Biogen Inc. · NASDAQ:BIIB
Biogen — Biogen Idec — Cowen and Company 28th Annual Health Care Conference 2008
17 slides from Biogen's conference presentation, Mar 18, 2008
Slide 1: Cowen and Company 28th Annual Health Care Conference
Cowen and Company 28th Annual Health Care Conference Boston, MA Jim Mullen, CEO March 18, 2008
Slide 2: Forward-looking statements and proxy solicitation notice
This presentation includes forward-looking statements about: our expected revenues, earnings, and cash flows the size and growth of the markets for our products, estimates of sales for our products, our expected filings with regulatory agencies, the anticipated development and timing of programs in
Slide 3: Business Strategy: Driving Value Creation
Business Strategy.... Robust fundamentals + Rich pipeline + Strong financial results .. . . . . Driving Value Creation
Slide 4: Robust Fundamentals
Robust Fundamentals 2004 2005 2006 2007 AVONEX 1417.2 1543.1 1706.7 1867.842 RITUXAN 615.7 708.9 810.9 926.098 TYSABRI 3.1 4.7 35.8 229.844 Revenue to BIIB AVONEX(r) Expand into new regions Maintain competitive position in the "ABCR" market RITUXAN(r) Increase penetration in RA TNF IR Launch in RA D
Slide 5: 100,000 TYSABRI Patients by 2010
100,000 TYSABRI(r) Patients by 2010 Current AVONEX US 70000 Int'l 60000 Clinical 2008 2009 2010 US 10500 40000 Int'l 5500 60000 Clinical 1000 WW Patients on Therapy 100,000 130,000+ TYSABRI(r) Patients Oct '06 Feb Apr May July Sept Dec Total 3100 7500 10000 12500 14000 17000 21000 AVONEX(r) Patients
Slide 6: Robust Pipeline Near Term Data Readouts
Robust Pipeline Near Term Data Readouts Over the past 3 years, significantly strengthened pipeline Internal programs External programs >10 molecules accessed via BD strategy 4 products in registrational trials... with a 5th by year end >4x increase in number of patients in clinical trials in 2008 15
Slide 7: 2008 Pipeline Data Readouts
2008 Pipeline Data Readouts H1 2008 H2 2008 Ph. 3 Ph. 2/3 Ph. 2/3 Ph. 2a Ph. 1/2 Ph. 2b Ph. 3 Ph. 2 Ph. 1/2 BIIB14 Parkinson's Disease HSP90i GI Stromal Tumors Baminercept RA RITUXAN(r) CLL Volociximab Ovarian rFactor IX RITUXAN(r) RA DMARD IR RITUXAN(r) Lupus RITUXAN(r) PPMS
Slide 8: Select Programs with 2008 Readouts: RITUXAN Lupus
Select Programs with 2008 Readouts RITUXAN(r): Ph. 2/3 Lupus Commercial SOC: steroids, immunosuppressives, chemotherapy, and CellCept(r) ~1.5m active SLE patients WW Clinical B cell driven pathology and positive efficacy in other autoimmune diseases suggest role for anti-B cell therapy Well establis
Slide 9: Select Programs with 2008 Readouts: Baminercept RA
Select Programs with 2008 Readouts Baminercept: Ph. 2b RA Commercial Excitement in RA market for new biology WW RA market totals ~$6.5B and expected to growth to $10B by 2010 Potential in Lupus, Crohn's Disease, Ulcerative Colitis, MS, and Transplantation Clinical Meaningful improvements in ACR scor
Slide 10: Select Programs with 2008 Readouts: Long Acting rFactor IX
Select Programs with 2008 Readouts Long Acting rFactor IX: Ph.1/2 Hemophilia Commercial Unmet need for improvements in frequency of administration Potential to grow prophylaxis market Clinical Low risk to proof of efficacy Favorable trial timelines Less frequent administration Data Readout Ph. 1/2 r
Slide 11: Late Stage Programs in Registrational Trials
Late Stage Programs in Registrational Trials Program MS (oral) NHL Hyponatremia/CHF CLL CHF BG-12 Galiximab Lixivaptan Lumiliximab Adentri (expected H2 '08) Indication
Slide 12: Strong Financial Results
2003 2004 2005 2006 2007 Revenue 1.85 2.212 2.423 2.683 3.139 EPS 1.22 1.4 1.57 2.25 2.65 Strong Financial Results Stock Performance: Outperforming the BTK 1 Year 4 Years BIIB 0.37 0.81 BTK -0.04 0.53 Note: 1 year data compares stock performance from 3/15/07 to 3/14/08. 4 year data compares stock pe
Slide 13: Pioneering New Solutions to Industry Challenges
Pioneering New Solutions to Industry Challenges Develop and commercialize blockbuster brands Expand geographic reach Advance pipeline Accelerate innovation...internally and externally Advance world class biologics development Deliver strong financial performance Global Industry Challenges Pricing pr
Slide 14: Focused on Creating Value
Focused on Creating Value 2003 2004 2005 2006 2007 2008 Merger Restructuring (17% of workforce) Sale of non- core asset (NIMO) Sale of non-core asset & product (NICO & Amevive) Sale of non- core product (Zevalin) Leveraged share repurchase Sales process 2010 Pipeline Strategy 2015 Vision Removal Rel
Slide 15: 2008 Investment Thesis
2008 Investment Thesis Strong growth across products and regions Rich pipeline with many near term data readouts Proven strategy to deliver strong financial results 2008 guidance: 15-20% top line 17-22% bottom line 2010 Goals: 15% & 20% Note: The bottom line references in this slide refer to non-GAA
Slide 16: Jim Mullen, CEO
Jim Mullen, CEO March 18, 2008 Cowen and Company 28th Annual Health Care Conference Boston, MA
Slide 17: GAAP to non-GAAP Reconciliation 2003-2007
GAAP to non-GAAP Reconciliation 2003 -2007 Diluted EPS and Net Income Notes: The non-GAAP financial measures presented in this table are utilized by Biogen Idec management to gain an understanding of the comparative financial performance of the Company. Our non-GAAP financial measures are defined as
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