Viatris Inc. · NASDAQ:VTRS
Viatris — Mylan — Merger or Acquisition (January 2020)
20 slides from Viatris's merger presentation, Jan 15, 2020
Slide 1: VIATRIS: A New Champion for Global Health
VIATRIS: A New Champion for Global Health January 2020 Investor Presentation
Slide 2: Forward-looking statements
2 This communication contains “forward-looking statements”. Such forward-looking statements may include, without limitation, statements about the proposed combination of Upjohn Inc. (“Newco”) and Mylan N.V. (“Mylan”), which will immediately follow the proposed separation of the Upjohn business (the
Slide 3: Additional Information and Where to Find It
3 Additional Information and Where to Find It This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sal
Slide 4: Speakers
4 Speakers Rajiv Malik President Michael Goettler Chief Executive Officer Robert Coury Executive Chairman As Chief Executive Officer, will lead VIATRIS and be responsible for the execution of the Company’s strategy Seasoned and talented pharma executive with strong leadership skills, international e
Slide 5: Empowering people worldwide to live healthier, at every stage of life
5 Empowering people worldwide to live healthier, at every stage of life. ACCESS LEADERSHIP PARTNERSHIP
Slide 6: The New Reality…
6 The New Reality… Greater portion of the World’s population with medical needs (i.e. aging population, growing middle class) Growing disease cost burden, increasing budget pressures and limited access to medicines Coupled with a need to better understand and access … Growing number of innovations a
Slide 7: …A New Kind of Global Player
7 …A New Kind of Global Player ACCESS LEADERSHIP PARTNERSHIP
Slide 8: …With a Powerful Foundation
8 …With a Powerful Foundation Diverse Portfolio Across all Key Therapeutic Areas Global Footprint in US, Europe and Asia Markets Best-in-Class Global Manufacturing and Supply Platform Strong Cash Flow Profile Plus Sustainable Pipeline Engine Sustainable, Diverse and Differentiated Portfolio and Pipe
Slide 9: Partner of Choice
9 Empowering people worldwide to live healthier, at every stage of life Partner of Choice Creating better value for all stakeholders Global Supply Network Expansive Technical Expertise Cost Efficient Operating Platform Broad Global Commercial Reach Across Channels &TAs VIATRIS Will Offer a Unique Gl
Slide 10: …and Unparalleled Global Reach
10 …and Unparalleled Global Reach Enables VIATRIS to Deliver Products Across Multiple Channels Global Commercial Platform 165+ Countries & Territories 60,000+ Customers 13,000+ Sales force 1,100+ Marketing professionals 1,400+ Molecules ~30,000 SKUs
Slide 11: …Delivered Through a Unique Global Platform
11 …Delivered Through a Unique Global Platform Strong Technical Resources R&D, Quality, Medical, PV, & Regulatory across the globe Truly Global Supply Network with local proximity Optimized Operating and Medical Capabilities 35,000+ Marketing Authorizations ~50 Manufacturing sites 60+ Distribution N
Slide 12: Fueling Our Future Growth
12 Fueling Our Future Growth Complex Products Biologics Respiratory Significant partnership track record of leveraging each other’s capabilities and strengths A Focus on Actively Expanding Innovative Partnerships
Slide 13: A Proven Track Record of Addressing Unmet Needs Through Complex Science
13 A Proven Track Record of Addressing Unmet Needs Through Complex Science 1x/Month MR-106A-01* MR-107A-01* Glatiramer Acetate Injection (Copaxone) Revefenacin (Yupelri) Fluticasone propionate / Salmeterol (Advair) Pegfilgrastim (Neulasta) Trastuzumab (Herceptin) Adalimumab (Humira) Glargine (Lantus
Slide 14: Sustainable, Diverse and Differentiated Portfolio
14 Sustainable, Diverse and Differentiated Portfolio Brand 56% Ex-U.S. Generic 19% U.S. Generic 15% Biologics 4% OTC 6% Expected Combined Revenue
Slide 15: Cost Synergies: Expected to Achieve Annually by Year Four
15 Cost Synergies: Expected to Achieve Annually by Year Four Synergies S&M G&A COGS Revenue Synergies Expected After Year One Key Areas Transition Services Agreements Elimination of Duplicate Infrastructure Cost Avoidance No Standalone / Corporate Build-up Costs Key Areas Optimization of Network Man
Slide 16: Stronger Business Model
16 Stronger Business Model 1 Reflects Mylan’s targeted long-term average debt to credit agreement Adjusted EBITDA leverage ratio. Transformational combination strengthens balance sheet, enhances financial flexibility and transitions to a shareholder return focused capital allocation model Financial
Slide 17: Clear Roadmap of Execution to Optimize Total Shareholder Return
17 Clear Roadmap of Execution to Optimize Total Shareholder Return (TSR) Years 0 1 2 3 4 5 6 7+ Business Execution Capital Allocation Operations Leverage New Pipeline Launches Capital Return Synergies Business Development New Pipeline Investment INTEGRATION PRODUCT LAUNCHES ~$3bn COST SYNERGIES REVE
Slide 18: Expected Attractive Financial Profile
18 Expected Attractive Financial Profile $227 $216 $143 $132 $119 ~$251 $15 $11 $10 $7 $6 $1 Selected Large Cap Pharma VIATRIS Selected Spec Pharma / Generics Avg. Est. Gross Debt / 2020E EBITDA3 Pays Dividend / Dividend Yield4 2020E EBITDA Margin2 ~2x ~4x 23% 30% 28% 20% 27% 24% Market Cap ($bn) 43
Slide 19: Potential Opportunity to Deliver Significant Shareholder Value
19 Potential Opportunity to Deliver Significant Shareholder Value 7.0 7.5 8.0 8.5 7.0x $20 $23 $26 $29 8.0x $26 $29 $32 $36 9.0x $31 $35 $39 $43 10.0x $37 $41 $45 $50 11.0x $43 $48 $52 $57 Illustrative VIATRIS EBITDA ($bn) Illustrative Total Enterprise Value / EBITDA Implied VIATRIS Share Price1 Not
Slide 20: On-Track for Mid-2020 Close
20 On-Track for Mid-2020 Close Ongoing Integration Planning Announce New Company Name Determined that VIATRIS will be Listed on Nasdaq Commenced VIATRIS Director Appointments Announce VIATRIS Chief Financial Officer Receive Mylan Shareholder Approval Receive Regulatory Approvals Across Jurisdictions