Amneal Pharmaceuticals, Inc. · NASDAQ:AMRX
Amneal Pharmaceuticals — 2022 JPMorgan Healthcare Conference
25 slides from Amneal Pharmaceuticals's conference presentation, Jan 12, 2022
Slide 1: Amneal Pharmaceuticals
Amneal Pharmaceuticals Chirag Patel, Co-founder and Co-CEO 2022 JPMorgan Healthcare Conference January 12, 2022 g
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain statements contained in this presentation, regarding matters that are not historical facts, may be forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995). Such forward-looking statements include statements regarding manageme
Slide 3: Amneal has significant growth opportunities
Amneal has significant growth opportunities Amneal Then Amneal Now Retail Generics GROWING CONSISTENTLY Distribution Specialty EXPANDING SUBSTANTIALLY Institutional Injectables Biosimilars ENTERING NEW OPPORTUNITIES International 3
Slide 4: Current markets and compelling opportunity
Current markets and compelling opportunity Market dynamics Market size (1) Today $6.7B Specialty Improved patient outcomes, access and affordability Growth driven by innovation 2025 $8.5B Retail Portfolio complexity is key Today $19.9B New launches offset price pressure Generics Emergence of new Rx
Slide 5: Well-positioned for significant long-term growth in key markets
Well-positioned for significant long-term growth in key markets $2.1B (1) Amneal today (2) Strategy for growth Targeting at least one new launch per year focused in Expand business significantly by driving organic growth, Specialty $363M (1) Neurology (movement disorders) and Endocrinology advancing
Slide 6: Amneal's commitment to innovation
Amneal’s commitment to innovation Reflects the timing of when a new product in each category was initially launched or is expected to launch by Amneal 2024-2025 K-114 (Hypothyroidism, T4 sub-indication) 2022-2023 Biosimilars Illinois & Spain 2023-2024 2019 K-127 2002 2008 2015 2016 Transdermal (Myas
Slide 7: Expanding branded portfolio to drive growth and profitability
SPECIALTY Expanding branded portfolio to drive growth and profitability Organic growth of existing products + New branded launches in the pipeline + Business development $363M (1) 2022 2023 2024 2025 2026 DHE Autoinjector • Pursue strategic, accretive (Migraine & Cluster Headache) transactions focus
Slide 8: Branded pipeline will expand portfolio and create value
SPECIALTY Branded pipeline will expand portfolio and create value DHE Autoinjector IPX-203 K-127 K-114 K-128 Product Dihydroergotamine mesylate Carbidopa-levodopa Pyridostigmine QD, LT3 sustained release tablets THP hydrochloride capsules, oral extended release oral extended release Indication Migra
Slide 9: Proprietary drug delivery technologies that can improve release
SPECIALTY Proprietary drug delivery technologies that can improve release GRANDE: Advanced Gastric Retention System KRONOTEC: Modified Release Technology Enables sustained 12–24 hour delivery for drugs with site-specific Modifies drug kinetics to mimic physiological patterns and targets absorption i
Slide 10: Mix shift to complex Generics is driving more durable growth
GENERICS Mix shift to complex Generics is driving more durable growth Purposeful mix shift to more complex product portfolio drives durable top-line growth at higher levels of profitability Generics net revenues mix ($’s) Pipeline mix Generics net revenues Generics adjusted gross margins (# of produ
Slide 11: Our wheel of innovation in Generics keeps turning
GENERICS Our wheel of innovation in Generics keeps turning Actively developing additional candidates across increasingly complex dosage forms (particularly drug-device combinations ~133 pipeline and injectables) with 85%+ non-oral solids products with ~$41B TAM ~99 ANDA’s Pending ANDA’s across dosag
Slide 12: Expanding Injectables with new products and global capabilities
INJECTABLES Expanding Injectables with new products and global capabilities Our Injectables business today Puniska acquisition in 2021 enhances our global capabilities and capacity • ~$150M annual revenue today (including the • Expands infrastructure, manufacturing recently acquired ~$25M Liorseal®
Slide 13: Highlighting our long-term opportunity in Biosimilars
BIOSIMILARS Highlighting our long-term opportunity in Biosimilars Entering Biosimilars market near-term and building the business for the long-term as the opportunity expands (1) MARKET SIZE FOR OVERALL • Focused near-term on • Pursuing additional partnership opportunities BIOSIMILAR CATEGORY buildi
Slide 14: Baclofen franchise acquisition advances strategy in 3 key areas
INJECTABLES | BIOSIMILARS | SPECIALTY Baclofen franchise acquisition advances strategy in 3 key areas Adding assets and building capabilities in three key growth areas Transaction overview • Lioresal® is an intrathecal baclofen product Institutional delivered through an implantable pump for • Strate
Slide 15: Entering select international markets with impactful products
INTERNATIONAL Entering select international markets with impactful products (1) MARKET SIZE Scaling up in China $197B 2025 registering 10 products near-term and plan to expand to 20-30 with our $168B partner Fosun TODAY Building a presence in India $36B Focusing on the hospital and 2025 specialty pr
Slide 16: Strong performance driven by innovation and execution
Strong performance driven by innovation and execution Net revenue growth Adjusted gross margin expansion Adjusted EBITDA growth $ millions % of net revenue $ millions +14% CAGR 47% +23% CAGR ~$2,100 ~$540 $1,993 $456 44% $355 $1,626 42% (1) (1,2) 2019 Actuals 2020 Actuals 2021 Guidance 2019 Actuals
Slide 17: Strengthening balance sheet and disciplined capital allocation
Strengthening balance sheet and disciplined capital allocation Strengthening the balance sheet Capital allocation priorities are disciplined with a clear net leverage goal in view and focused on long-term returns $ millions Sept 2021 7.0x Current portion and • Consistent investments in organic growt
Slide 18: Focused on affordable, essential medicines for patients in need
Focused on affordable, essential medicines for patients in need Purpose-driven company with the core tenets of good ESG practices instilled throughout the organization (our strategy, operations and people) Amneal is focused on providing affordability and accessibility for patients. ~$10B In 2020, Am
Slide 19: Key takeaways
Key takeaways • Amneal is a diversified, innovative and growing essential medicines company focused on generating sustainable, long-term value for all our stakeholders • In Retail Generics, we expect durable growth driven by innovation resulting in an increasingly complex and differentiated product
Slide 20: We make healthy possible
2 Yamneal We make healthy possible®
Slide 21: Appendix: Non-GAAP Reconciliations
Appendix: Non-GAAP Reconciliations
Slide 22: Reconciliation of net (loss) income to EBITDA and adjusted EBITDA
Reconciliation of net (loss) income to EBITDA and adjusted EBITDA ($) in millions Three months ended Twelve months ended Sept 30, 2021 June 30, 2021 March 31, 2021 Dec 31, 2020 Sept 30, 2020 June 30, 2020 March 31, 2020 Dec 31, 2020 Dec 31, 2019 Net (loss) income $ (6.1) $ 32.2 $ 14.5 $ (7.0) $ (22.
Slide 23: Reconciliation of Generics cost of goods sold to adjusted cost of goods sold
Reconciliation of Generics cost of goods sold to adjusted cost of goods sold and gross margin to adjusted gross margin ($) in millions Nine months ended Twelve months ended September 30, 2021 September 30, 2020 December 31, 2020 December 31, 2019 Net Revenue $ 1,020.0 $ 1,001.0 $ 1,343.2 $ 1,308.8 C
Slide 24: Reconciliation of Specialty cost of goods sold to adjusted cost of goods sold
Reconciliation of Specialty cost of goods sold to adjusted cost of goods sold and gross margin to adjusted gross margin ($) in millions Nine months ended Twelve months ended September 30, 2021 September 30, 2020 December 31, 2020 December 31, 2019 Net Revenue $ 277.3 $ 270.1 $ 355.6 $ 317.5 Cost of
Slide 25: Balance sheet and liquidity summary
Balance sheet and liquidity summary $ millions Sept 2021 Dec 2020 Dec 2019 Current portion and (1) $2,718 $2,779 $2,631 long-term debt Cash and cash (2) $311 $347 $153 equivalents (3) Net Debt $2,408 $2,432 $2,478 Gross Debt to LTM (4) (5) 5.2x 6.0x 7.4x Adjusted EBITDA Net Debt to LTM (3) (5) 4.6x
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