Abbvie Inc. · NYSE:ABBV
Abbvie — J.P. Morgan Healthcare Conference 2022
21 slides from Abbvie's conference presentation, Jan 11, 2022
Slide 1: J.P. Morgan Healthcare Conference
J.P. Morgan Healthcare Conference Rob Michael Vice Chairman, Finance and Commercial Operations Chief Financial Officer January 11, 2022 J.P. Morgan Healthcare Conference | January 11, 2022 1
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 is a Diversified Biopharmaceutical Company with Multiple Sources of Growth
AbbVie is a Diversified Biopharmaceutical Company with Multiple Sources of Growth and Strong Long-term Outlook Hematologic Immunology Neuroscience Aesthetics Eye Care Oncology Best-in-Class medicines Strong leadership position; Positioned for significant Leadership positions across Large franchise w
Slide 4: A Unique Investment Opportunity Well Positioned For Continued Strong Shareholder Returns
A Unique Investment Opportunity Well Positioned For Continued Strong Shareholder Returns • Strong operating cash flow to support investments for growth, return of cash to shareholders and rapid debt Compelling capital repayment allocation philosophy, • Continued R&D investment in promising, innovati
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 $56.2 * ($ in billions) $12.65 * $45.8 $10.56 $8.94 $32.7 $33.3 $7.91 $28.2 $25.6 $22.8 $5.60 $19.9 $4.82 $18.8 $4.29 $3.14 $3.32 2013 2014 2015 2016 2017 2018 2019 2020 2021 2013 2014 2015 2016 2
Slide 6: On Track To Meet or Exceed Allergan Transaction Financial Commitments
On Track To Meet or Exceed Allergan Transaction Financial Commitments Generate >$2B in • Expect $1.8B in expense synergies in 2021 Synergies and Cost Savings in Year 3 • On track to achieve >$2B in 2022 ✓ On-Track 10% Accretion Over the • Accretion meaningfully exceeded 10% in the first year First F
Slide 7: Immunology
Immunology Transformed Immunology From a Single Product with Humira to a Portfolio Of Differentiated Therapies with the Addition of Skyrizi and Rinvoq >$15B Skyrizi Rinvoq $3.5B RA International markets $1.7B AD expected to contribute >$7.5B $1.0B SpA sales of ~$4.5B for $1.3B IBD Skyrizi and Rinvoq
Slide 8: Immunology
Immunology Pipeline of Novel Therapies to Improve Clinical Performance Across Rheumatology, Dermatology and Gastroenterology ABBV-154 ABBV-157 ABBV-668 Anti-TNF Steroid Antibody Small Molecule RoRgT Small Molecule Drug Conjugate Inverse Agonist RIPK1 Inhibitor • Novel approach to target • Potential
Slide 9: Oncology
Oncology Established a Strong Leadership Position in Hematologic Oncology with Imbruvica and Venclexta • Gold standard in CLL and preferred treatment for • 6 FDA Breakthrough Therapy designations and MCL and WM 4 approved indications across CLL and AML populations • Most comprehensive efficacy and s
Slide 10: Oncology
Oncology Building a Broader, Deeper Pipeline to Address Significant Unmet Need in Oncology and Position Franchise for Sustainable Long-Term Growth Navitoclax Epcoritamab ABBV-383 Teliso-V BCL-2 / BCL-xL Inhibitor CD3-CD20 Bispecific BCMA-CD3 Bispecific c-Met ADC • Current myelofibrosis therapies • E
Slide 11: Neuroscience
Neuroscience Building a Leading Portfolio with Options for Every Patient Across the Migraine Spectrum Acute Migraine Treatment Episodic Migraine Prevention Chronic Migraine Prevention • #1 prescribed branded acute treatment • Only oral CGRP receptor antagonist • Unique foundational treatment for for
Slide 12: Neuroscience
Neuroscience Significant Growth Opportunities in Psychiatry and Neuro-Degeneration • A versatile atypical antipsychotic that provides strong efficacy across multiple symptoms, with minimal impact on weight, lipids and fasting blood glucose • Expect Vraylar peak sales to approach $4B with current app
Slide 13: Aesthetics
Aesthetics Market Leader in Global Aesthetics with Significant Growth Opportunities from New Product Introduction, Global Expansion and Increasing Market Penetration Accelerating R&D Programs & Aesthetics Franchise Increased Investments Strengthening Pipeline with Positioned for Sustainable Driving
Slide 14: Eye Care
Eye Care $3.5 billion Franchise with Investment Opportunities to Sustain Eye Care Leadership and Drive Growth with Internal and External Innovation Maximize Current Portfolio in Develop Novel Products to Support Glaucoma and Dry Eye Long-Term Growth • Multiple leading brands to help preserve and pro
Slide 15: Innovation-Driven R&D Organization
Innovation-Driven R&D Organization Proven Track Record of Developing New Medicines That Consistently Elevate the Standard of Care 185+ 5 11K+ $6.7B $2.0B Clinical Core Therapeutic R&D Annual R&D Annual Business Trials Areas Employees Investment* Development Allocation 80+ ~50 40+ 21 65+ Clinical New
Slide 16: AbbVie Pipeline
AbbVie Pipeline Phase 1 Phase 2 Registrational / Phase 3 Submitted ■ ABBV-668 (RIPK1) Multiple Immunology Diseases ■ ABBV-154 (TNF-Steroid ADC) RA ■ Rinvoq (JAK 1) CD ■ Rinvoq (JAK 1) AD (US) ■ ABBV-151 (GARP+TGFb1) Solid Tumors ■ ABBV-154 (TNF-Steroid ADC) PMR ■ Rinvoq (JAK 1) GCA ■ Rinvoq (JAK 1)
Slide 17: Anticipated Key Pipeline Events
Anticipated Key Pipeline Events 2022 2023 Regulatory Rinvoq AD (US) Skyrizi PsA (US) Rinvoq CD Navitoclax 1L and R/R MF Rinvoq AS (US) Imbruvica + Venclexta 1L CLL Imbruvica + Venclexta R/R MCL Epcoritamab 3L R/R DLBCL (AA) Approvals Rinvoq UC Venclexta Higher Risk MDS (AA) Imbruvica R/R FL/MZL ABBV
Slide 18: AbbVie: A Unique Investment Opportunity Poised for Continued Strong Shareholder Returns
AbbVie: A Unique Investment Opportunity Poised for Continued Strong Shareholder Returns Portfolio of leading brands in attractive and sustainable markets Pipeline of innovative, highly differentiated assets to address significant unmet needs, with potential to drive significant growth Compelling cap
Slide 19: Appendix
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Slide 20: GAAP to Non-GAAP Reconciliations
GAAP to Non-GAAP Reconciliations Diluted earnings per share 2013 2014 2015 2016 2017 2018 2019 2020 2021E As reported (GAAP) $2.56 $1.10 $3.13 $3.63 $3.30 $3.66 $5.28 $2.72 $6.31 Adjusted for specified items: Acquisition related costs 0.23 0.18 0.45 0.68 0.93 1.00 3.23 8.11 5.22 Separation costs 0.1
Slide 21: AbbVie's Partnered Assets
AbbVie’s Partnered Assets • Imbruvica jointly developed with Janssen Biotech • Venclexta jointly developed with Roche • Skyrizi developed in cooperation with Boehringer Ingelheim • Vraylar developed in cooperation with Gedeon Richter • ABBV-0805 developed in cooperation with BioArctic • CCW702 devel