Mayne Pharma Group Ltd. · ASX:MYX
Mayne Pharma — Jefferies London Healthcare Conference 2023
28 slides from Mayne Pharma's conference presentation, Nov 14, 2023
Slide 1: ASX Announcement: Mayne Pharma to present at Jefferies London Healthcare Conference
ASX Announcement MAYNE PHARMA TO PRESENT AT THE JEFFERIES LONDON HEALTHCARE CONFERENCE 14 November 2023, Adelaide, Australia: Mayne Pharma Group Limited (ASX: MYX) today announced that Shawn Patrick O’Brien, Chief Executive Officer of Mayne Pharma, will present at the Jefferies London Healthcare Con
Slide 2: Mayne Pharma Group Limited – Jefferies London Healthcare Conference
For personal use only Mayne Pharma Group Limited Jefferies London Healthcare Conference November 14, 2023 Shawn Patrick O’Brien, CEO 1
Slide 3: Disclaimer
Disclaimer The information provided is general in nature and is in summary form only. It is not complete and should be read in conjunction with the company’s audited Financial Statements and other market disclosures. This material is not intended to be relied upon as advice to investors or potential
Slide 4: Mayne Pharma at a Glance
Mayne Pharma at a Glance Capitalising on commercial opportunities across three attractive business units Putting the right people, products, and processes in place to address the needs of patients and For personal use only drive long-term sustainable growth in each of our three segments Branded Prod
Slide 5: FY23 Performance Highlights
FY23 Performance Highlights REFOCUSED ON CORE BUSINESS For personal use only • Completed sale of Metrics Contract Services and US Retail Generics for a combined sale price of US$565m GREW ALL THREE SEGMENTS • Expanded US Women’s Health portfolio • BPD/Women’s Health – strong revenue via license of e
Slide 6: First Quarter FY2024 Update
First Quarter FY2024 Update1 Pivoting to growth A$million Q1 FY23 Q4 FY23 Q1 FY24 Chg YoY Chg QoQ For personal use only Total Net Sales 30.0 68.2 92.3 +207% +35% Total Gross Margin 16.4 29.5 53.4 +226% +81% Gross Profit % 55% 43% 58% 300bp 1500bp Underlying EBITDA (31.5) (18.6) (0.2) +94% +9
Slide 7: Branded Products Division (BPD) / Women's Health
For personal use only Branded Products Division (BPD) / Women’s Health
Slide 8: Leader in U.S. Women's Health
Women’s Health / Branded Products Division (BPD) Leader in U.S. Women’s Health For personal use only ● A leading position in strong and growing market with four novel women’s healthcare products ● Licensing rights acquisition added a complementary portfolio of stable products with long patent live
Slide 9: Women's Health / BPD Q1 FY24 results
Women’s Health / Branded Products Division (BPD) Q1 FY24 results1 ● Quarter on quarter segment net sales +72% for BPD For personal use only FY24 Women’s Health ● Segment performance reflects growth in expansion portfolio as well Outlook as improved performance of NEXTSTELLIS® following access improv
Slide 10: Weekly NEXTSTELLIS cycles seeing steady growth
Weekly NEXTSTELLIS® cycles1 seeing steady growth For personal use only ● 1Q24 vs 4Q23 unit growth of 9.7%, net revenue +69%, NSP restored to above 1HFY23 level ● Refreshed marketing strategy and Medical Affairs support ● Additional US patent protection to NEXTSTELLIS® granted – expiry 2036 1 - Cycle
Slide 11: Expanded Women's Health branded portfolio adding significant value
Expanded Women’s Health branded portfolio adding significant value ● Cash return of US$24.3 million during nine months of ownership1 or ~24% annualised ● Transaction to date (9 months) assets performing at ~4.2 years simple payback2 For personal use only ● Intellectual property protection 2032 throu
Slide 12: Portfolio Products Division (PPD) - Dermatology
For personal use only Portfolio Products Division (PPD) - Dermatology
Slide 13: Building market leadership and scale
Dermatology / Portfolio Products Division (PPD) Building market leadership and scale ● Five proprietary brands and 20 generic dermatologics For personal use only ● Recent acquisition of RHOFADE®, an FDA-approved topical cream used to treat rosacea (launched 10/2/2023) ● Mayne Pharma portfolio can fi
Slide 14: Dermatology / PPD Q1 FY24 results
Dermatology / Portfolio Products Division (PPD) Q1 FY24 results1 ● Q1 FY24 Net Sales +285% vs PCP, +53% vs prior quarter For personal use only FY24 Dermatology ● Q1 FY24 Gross Margin +224% vs PCP, +302% vs prior quarter Outlook ● Net revenues growing steadily, benefitting from improved GTN and NPLs
Slide 15: Acquisition of global rights to RHOFADE
Acquisition of global rights to RHOFADE® Adds to portfolio of products expected to generate positive EBITDA and cash flow in FY24 For personal use only FDA-approved In 29-day trials, Acquired for US$8 Complementary Expands portfolio Reported topical cream patients saw million and to authorised with
Slide 16: Dermatology Growth
Dermatology Growth For personal use only ● Net revenues growing steadily, benefitting from improved GTN and NPLs (DORYX® MPC 60 mg, AG ORACEA®) ● Co-pay monitoring expected to deliver improvements beginning Q2 and continuing throughout the FY ● Unique prescriber patient fulfilment process (disinterm
Slide 17: Using Unique Fulfilment Process to Disintermediate the Pharmaceutical Value Chain
Using Unique Fulfilment Process to Disintermediate the Pharmaceutical Value Chain Pharmaceutical Value Chain For personal use only The pharmaceutical value chain is filled with Plan Sponsor inefficiencies and pain points • Multiple stakeholders with opposing financial interests cause inefficiencies,
Slide 18: Disintermediation Strategy
Disintermediation Strategy Mayne Pharma’s unique platform spans the entire value chain, allowing for the ability to create a comprehensive, frictionless, transparent, and cost-effective experience For personal use only Why Dermatology? Why Mayne Pharma? 130 territory representatives ✓ There is great
Slide 19: International
For personal use only International
Slide 20: International
International For personal use only ● Q1 FY24 net sales and margin down FY24 International quarter on quarter, due to production Outlook timing ● Costs continue to be managed and our Mayne International ongoing productivity initiatives are Pharma Product CDMO Australia Sales • Pursue targeted design
Slide 21: Pivoting to Growth
For personal use only Pivoting to Growth
Slide 22: Strategy for 2024 Growth
Strategy for 2024 Growth Continuing positive momentum into FY24 For personal use only Women’s Health Dermatology International ✓ Deliver positive contribution margins in all three segments ✓ Return Company to positive • Complete integration of • Positive profit and • Pursue targeted EBITDA and cash
Slide 23: Capital Management
Capital Management Q1 Capital update FY24 Capital Management Priorities For personal use only Current company cash balance A$163m Sept 30, 2023 ● Maintain conservative balance sheet and solid liquidity Q1 cash usage (A$57m) position through transition phase with planned capital structure review ongo
Slide 24: Q&A
Q&A For personal use only Mayne Pharma Group Limited ASX:MYX You deserve tomorrow. 23
Slide 25: Appendix – extract from FY23 results presentation
For personal use only Appendix – extract from FY23 results presentation
Slide 26: FY23 Group Financial Overview
FY23 Group Financial Overview • Results are presented from continuing operations to exclude Metrics Contract Services (MCS) which was divested on 4 October 2022 and to exclude the US Retail Generics business (previously included in the Portfolio Products (PPD) segment) which was divested on 7 April
Slide 27: FY23 Segmental Performance
FY23 Segmental Performance Refocused business delivering improved momentum and positive contribution in 2H For personal use only Reported results (A$m) 1HFY23 2HFY23 FY23 FY22 1HFY23 2HFY23 FY23 FY22 Revenue Gross profit Portfolio Products 11.1 45.9 57.0 92.2 Portfolio Products -2.6 13.3 10.7 45.4 B
Slide 28: FY23 Group Financial Overview: Consolidated balance sheet
FY23 Group Financial Overview Consolidated balance sheet A$ million FY23 FY22 Change ● Working capital reductions reflective of For personal use only Cash and equivalents 92.6 96.7 (4.1) MCS and RGx divestments and Inventory 82.7 108.9 (26.2) transformation journey of the company. Receivables 194.9
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