Abbvie Inc. · NYSE:ABBV
Abbvie — J.P. Morgan Healthcare Conference 2018
20 slides from Abbvie's conference presentation, Jan 10, 2018
Slide 1: J.P. Morgan Healthcare Conference
J.P. Morgan Healthcare Conference Richard Gonzalez Chief Executive Officer January 10, 2018
Slide 2: Forward-Looking Statements and Non-GAAP Financial Information
Forward-Looking Statements and Non-GAAP Financial Information Some statements in this presentation are, or may be considered, forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995. The words "believe," "expect," "anticipate," "project" and similar expression
Slide 3: AbbVie Represents a Unique Investment Opportunity
AbbVie’s Represents a Unique Investment Opportunity Track record of strong execution, consistently meeting or exceeding financial commitments Industry-leading growth, Impressive pipeline of Compelling capital supported by a portfolio late-stage, de-risked allocation philosophy, of leading brands in
Slide 4: Outstanding Track Record of Execution
Outstanding Track Record of Execution % Revenue Growth % Adjusted EPS Growth Total Shareholder Return ABBV Rank vs. Peer Group* ABBV Rank vs. Peer Group* ABBV Rank vs. Peer Group* Period Rank Period Rank Period Rank 2017E #1 of 11 2017E #2 of 11 2017 #1 of 11 3 Years 3 Years 3 Years #1 of 11 #1 of 1
Slide 5: Strong Financial Execution Since Inception as an Independent Company
Strong Financial Execution Since Inception as an Independent Company Adjusted Net Revenues Adjusted EPS Operating Cash Flows ($BN) Approaching ($BN) 10% YOY Growth $6.47** $25.6 $5.54* >$8.5 $22.8 $7.5 $4.82 $7.0 $18.8 $19.9 $4.29 $6.3 $3.14 $3.32 $5.2 2013 2014 2015 2016 2017E 2013 2014 2015 2016 2
Slide 6: AbbVie: An Innovation-Driven, Patient-Focused, Specialty Biopharmaceutical Company
AbbVie: An Innovation-Driven, Patient-Focused, Specialty Biopharmaceutical Company • Strong leadership position with Humira Immunology • Late-stage assets, upadacitinib and risankizumab, will sustain leadership • AbbVie Immunology will evolve from a single product to a portfolio of therapies • Build
Slide 7: AbbVie Immunology To Evolve From a Single Product to a Portfolio of Therapies
AbbVie Immunology To Evolve From a Single Product to a Portfolio of Therapies Development Programs Focus on Re-defining Standard of Care Across Immune-Mediated Diseases Rheumatology Dermatology Gastroenterology Other RA PsA AS AxSpA PsO AD HS CD UC Market On Humira Uveitis Upadacitin
Slide 8: AbbVie Immunology Pipeline
AbbVie Immunology Pipeline Differentiated Late-Stage Assets and Promising Early-Stage Programs Risankizumab Upadacitinib Early-Stage Programs Anti-IL-23 Antibody Oral JAK1-Selective Inhibitor Innovative Biologics & Small- Molecules, Novel Targets Recently reported Phase 3 psoriasis Strong result
Slide 9: Opportunity to Impact Patient Care Across a Broad Range of Hematologic Malignancies
Opportunity to Impact Patient Care Across a Broad Range of Hematologic Malignancies Transform the therapeutic Enable BTK and Bcl-2 inhibitors approach, allowing patients to Drive better long-term control to become foundation achieve more durable, deeper of hematological malignancies, therapies in CL
Slide 10: Imbruvica Strategy
Imbruvica Strategy Establish Imbruvica as the Standard of Care across many B-cell malignancies, making Imbruvica the most successful hematologic oncology brand CLL NHL Other • Achieve broad use of Imbruvica in • Expand Imbruvica use into multiple • Explore Imbruvica’s potential in CLL; +80 % should
Slide 11: Venclexta Strategy
Venclexta Strategy Establish Venclexta use as an agent demonstrating strong disease control across hematologic malignancies CLL Other Heme Malignancies • Establish Venclexta as a foundational treatment in CLL based • Expand as a foundational therapy across multiple on PFS, response rates and depth o
Slide 12: AbbVie Solid Tumor Efforts
AbbVie Solid Tumor Efforts Biology and Technology Focus to Transform Treatment Approaches in Solid Tumors Making significant investments – both internal and external – in groundbreaking technologies and platforms Biology Other Emerging Science: Focus Cancer Stem Cells Immuno-oncology Apoptosis, B-Ce
Slide 13: Stemcentrx Provides Highly Attractive Discovery Platform for Solid Tumors
Stemcentrx Provides Highly Attractive Discovery Platform for Solid Tumors, Utilizing Cancer Stem Cell Biology Unique approach of Productive, biology- Stemcentrx Lead asset, Rova-T, targeting tumor driven discovery pipeline includes 8 represents a initiating cells via engine; selecting novel novel cl
Slide 14: AbbVie: Two High Value Components
AbbVie: Two High Value Components Humira plus attractive pipeline of new medicines represents significant growth potential AbbVie Growth Platform Humira Currently >$9Bn of on-market sales with Humira to remain a cornerstone of leading strong growth trajectory Immunology franchise Potential for >$35B
Slide 15: Embedded Within AbbVie Is a Platform with Market Leading Growth Prospects
Embedded Within AbbVie Is a Platform with Market Leading Growth Prospects AbbVie Sales Key Assets Excluding Humira Indication Launch Expansion $47B Imbruvica 2017 - 2021 Nominal Venclexta 2018 - 2022 >$35B Mavyret N/A Risk- adjusted Zinbryta N/A Late 2018/Early 2019 Rova-T 2019 - 2023+ (3L+
Slide 16: Humira Growth Dynamics to Continue into the 2020s
Humira Growth Dynamics to Continue into the 2020s Global Sales Approaching $21 Billion in 2020 Humira Growth Dynamics Global Humira Sales Low penetration rates offer potential for Approaching continued market growth for biologics $21Bn >$18Bn Humira expected to remain most widely prescribed front-li
Slide 17: Strategic Partnerships Accelerate Development
Strategic Partnerships Accelerate Development Co-Development/ R & D / Venture In-License/Other Co-Promotion Acquisition Calico Note: Slide represents select examples only J.P. Morgan Healthcare Conference | January 10, 2018 | © 2018 17
Slide 18: AbbVie: A Unique Investment Opportunity with Potential for Continued Strong Shareholder Returns
AbbVie: A Unique Investment Opportunity with Potential for Continued Strong Shareholder Returns AbbVie Growth Embedded within AbbVie is an underappreciated growth Platform platform with potential to grow to >$35Bn by 2025 Humira expected to drive robust growth and generate Humira significant cash fl
Slide 19: Appendix
Qobvie
Slide 20: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Diluted earnings per share 2013 2014 2015 2016 2017E As reported (GAAP) $2.56 $1.10 $3.13 $3.63 $4.28 Adjusted for specified items: Acquisition related expenses 0.23 0.18 0.45 0.68 0.91 Separation costs 0.10 0.24 0.13 -- -- Acquired in-process R&D, milestones and oth