Slide 1: Orion Full Year 2021 results presentation
Orion Full Year 2021 results presentation
Slide 2: Disclaimer
Disclaimer This presentation contains forward-looking statements which involve risks and uncertainty factors. These statements are not based on historical facts but relate to the Company’s future activities and performance. They include statements about future strategies and anticipated benefits of
Slide 3: Highlights in January−December 2021
Highlights in January−December 2021
Slide 4: Orion performed again well amid the pandemic – many good news from the development programs
Orion performed again well amid the pandemic – many good news from the development programs R&D • The primary endpoint of ARASENS was met, ARANOTE trial was initiated • EMA granted MA for Animal Health’s Bonqat® and Tessie® • Of the CYP11A1 projects, ODM-208 selected for the next development stage •
Slide 5: Key figures 1−12/2021
Key figures 1−12/2021 Net sales Operating profit Operating profit Cash flow per share margin before financial items 1,041 243 23% 0.96 MEUR (1,078) MEUR (280) (26%) EUR (1.85) -3% -13% -48% Full Year 2021 results presentation © Orion Corporation 10 February 2022 5
Slide 6: Development of net sales in 1−12/2021 vs. 1−12/2020
Development of net sales in 1−12/2021 vs. 1−12/2020 23 -5 10 -28 1,078 -18 2 15 2 -38 1,041 * Nubeqa® product sales & royalty ** Proprietary Products and Specialty Products *** Animal Health, Fermion and Contract Manufacturing **** Without Nubeqa® royalties The figures in the chart are rounded, whic
Slide 7: Development of operating profit in 1−12/2021 vs. 1−12/2020
Development of operating profit in 1−12/2021 vs. 1−12/2020 280 0 -20 3 -33 1 12 243 * Product & service sales without sales margin and product mix change and exchange rate effect *** Exchange rate effect on gross margin ** Product sales margin and product mix change but without exchange rate effect
Slide 8: Geographical breakdown and development of net sales
Geographical breakdown and development of net sales 1−12/2021 1−12/2020 1−12/2021 13% 400 30% 350 368 9% 354 300 316 316 250 -20% -4% MEUR 200 +4% 150 177 +9% 14% 141 135 141 34% 100 50 83 90 Finland Scandinavia 0 Other Europe North America RoW RoW = Rest of the World Full Year 2021 results presenta
Slide 9: Milestones, generic competition and the ending of Animal Health distribution agreement headwinds for revenue
Milestones, generic competition and the ending of Animal Health distribution agreement headwinds for revenue 1−12/2020 1−12/2021 1−12/2021 600 +1% 7% -8% 7% 500 498 503 400 37% 420 388 MEUR 300 200 -18% 49% 100 89 73 75 75 Proprietary Products 0 Specialty Products Specialty Proprietary Animal Health
Slide 10: TOP 10 products in 1−12/2021
TOP 10 products in 1−12/2021 EUR million vs. 1−12/2020 1. Easyhaler® product portfolio 117 +2% 2. Stalevo®, Comtess®, Comtan® 95 -3% 3. Simdax® 57 -9% 4. Nubeqa® 39 +137% 5. Dexdomitor®, Domitor®, Domosedan®, Antisedan® 39 +12% 6. dexdor® 37 -33% 7. Burana® 24 +1% 8. Divina® series 23 +12% 9. Solome
Slide 11: Proprietary Products
Proprietary Products GRION Building well-being
Slide 12: Nubeqa® continues strong growth as expected
Nubeqa® continues strong growth as expected Proprietary Products +2% sales split 1−12/2021 120 -3% 11% 115 117 100 25% -42% 10% 99 95 80 -9% -33% MEUR 60 73 +137% 62 57 55 40 15% 39 42 37 20 17 30% 0 9% Easyhaler® Parkinson's Simdax® Nubeqa® Dexdor® Others* portfolio franchise Parkinson's Easyhaler®
Slide 13: Nubeqa® sales booked by Orion showing strong growth
Nubeqa® sales* booked by Orion showing strong growth +137% 15 39 10 MEUR MEUR 5 17 0 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2019 2020 2021 2020 2021 * Orion’s sales to Bayer for commercial use + royalties from Bayer Full Year 2021 results presentation © Orion Corporation 10 February 2022 13
Slide 14: Easyhaler® returned to growth path
Easyhaler® returned to growth path 40 35 30 72 74 25 MEUR 20 MEUR +3% 15 10 5 43 43 -1% 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2019 2020 2021 2020 2021 Other Budesonide-formoterol Easyhaler® Full Year 2021 results presentation © Orion Corporation 10 February 2022 14
Slide 15: Sales of Parkinson's franchise
Sales of Parkinson's franchise -3% 40 35 30 25 99 95 MEUR -3% 20 MEUR 15 10 5 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2020 2021 2019 2020 2021 Full Year 2021 results presentation © Orion Corporation 10 February 2022 15
Slide 16: Dexdor® and Simdax® - decline slower than expected
Dexdor® and Simdax® - decline slower than expected Dexdor® Simdax® -33% -9% 20 20 15 55 15 62 57 MEUR MEUR 10 10 MEUR MEUR 37 5 5 0 0 2020 2021 2020 2021 2019 2020 2021 2019 2020 2021 Full Year 2021 results presentation © Orion Corporation 10 February 2022 16
Slide 17: Specialty Products
Specialty Products GRION Building well-being
Slide 18: Good development in Eastern Europe and Russia
Good development in Eastern Europe and Russia Sales split 1−12/2021 300 280 278 14% 250 200 16% MEUR 150 -2% +16% -5% 55% 100 50 78 76 81 71 70 67 15% 0 Finland Scandinavia Eastern RoW Finland Europe & Scandinavia Russia Eastern Europe & Russia 1−12/2020 1−12/2021 Rest of the World (RoW) Full Year 2
Slide 19: Small growth in both product categories
Small growth in both product categories +1% Sales split 1−12/2021 400 350 376 380 25% 300 250 MEUR 200 +1% 150 100 122 123 50 0 75% Generic Self Care prescription drugs products Generic drugs Self-care products 1−12/2020 1−12/2021 Full Year 2021 results presentation © Orion Corporation 10 February 2
Slide 20: In Finland, Orion’s reference priced prescription drugs developed clearly better than the market
In Finland, Orion’s reference priced prescription drugs developed clearly better than the market The market for reference priced The sales of Orion's reference prescription drugs in Finland* priced prescription drugs in (1−12/2021) Finland MEUR 433 (451) MEUR 116 (111) Market development Orion’s dev
Slide 21: Orion is strong in home market Finland
Orion is strong in home market Finland Human pharma market in Finland 1−12/2021 Reference Self-care Medicinal and non-medicinal products priced products in hospital and pharmacy channels: EUR 2,984 million prescription Orion market share in drugs pharmacy 350 324 Orion market share in 300 102 pharma
Slide 22: Research and development
Research and development
Slide 23: Key clinical development pipeline
Key clinical development pipeline Project/compound Indication Phase I Phase II Phase III Registration ARASENS / darolutamide 1 Prostate cancer (mHSPC) Phase I Phase II Phase III ARANOTE / darolutamide 1 Prostate cancer (mHSPC) Phase I Phase II Phase III ODM-208 Prostate cancer (CRPC) Phase I Phase I
Slide 24: Orion and responsibility
Orion and responsibility Building well-being
Slide 25: Orion’s Sustainability Agenda and indicators 2021
Orion’s Sustainability Agenda and indicators 2021 Active work for a Patient safety as a top priority better environment Care for well-being professionals Ethics at the core of our business Customer Greenhouse gas Energy savings Injury rate Code of Conduct complaints GxP* audits emissions target set
Slide 26: Business targets and outlook
Business targets and outlook
Slide 27: Key business targets in 2021
Key business targets in 2021 STATUS on TARGET 31 Dec 2021 Supporting sales growth and co-promotion in Europe with Bayer Positive outcome from Phase III ARASENS trial Taking phase III ARANOTE trial forward together with Bayer Sales growth ODM-208 Taking the development program forward according to pl
Slide 28: Focus areas in 2022
Focus areas in 2022 TARGET KPIs 2022 Increasing the sales of the Significant increase in sales of Nubeqa® booked by Orion current product portfolio Easyhaler® product portfolio sales increase by more than 5% In-licensing of new products Portfolio enhancement through product acquisitions and M&A Buil
Slide 29: Outlook for 2022
Outlook for 2022 (published on 10 February 2022) Orion estimates that in 2022 net sales will be Net sales at a similar level as in 2021 (in 2021 net sales were EUR 1,041 million). Operating profit is estimated to be at a Operating similar level as in 2021 profit (in 2021 operating profit was EUR 243
Slide 30: Key assumptions impacting the outlook
Key assumptions impacting the outlook Operating Net sales profit + Nubeqa® + Nubeqa® - Simdax® - Simdax® - dexdor® - dexdor® - Cost inflation - Price competition in generics - Sales & marketing expenses Full Year 2021 results presentation © Orion Corporation 10 February 2022 30
Slide 31: Orion’s strategic growth target 2025
Orion’s strategic growth target 2025 31
Slide 32: Orion’s financial objectives and outcome in 2021
Orion’s financial objectives and outcome in 2021 Growing net sales more rapidly than growth of the pharmaceuticals Keeping the equity ratio at market. Achievement of this objective least 50%. requires continuous investment in development of the product portfolio. Maintaining profitability at a good
Slide 33: 2025 Growth target – key positives and negatives so far
2025 Growth target – key positives and negatives so far Net sales (continued operations) 2018-2021 Geographical 1 200 expansion Positives 1 000 Repatriation of Parkinson product 800 EUR million New in-licensed products rights in Europe 600 400 Generics pricing ODM-109 pressure 200 Negatives Loss of
Slide 34: Path to the 2025 target from 2022 onwards – main drivers
Path to the 2025 target from 2022 onwards – main drivers Organic growth in all units Estimated growth will not be linear* – including new in-licensed Building blocks products for growth Geographical expansion In-licensing & M&As are options in all units Darolutamide ARANOTE* Net sales Unknowns Easyh
Slide 35: Upcoming events
Upcoming events AGM planned to be held 23/3/2022 Interim Report 1-3/2022 28/4/2022 Half-Year Financial Report 15/7/2022 Interim Report 1-9/2022 20/10/2022
Slide 36: Building well-being
Building well-being GRIoN Building well-being
Slide 37: Appendix
Appendix GRIoN Building well-being
Slide 38: Net sales and operating profit by quarter (MEUR)
Net sales and operating profit by quarter (MEUR) Net sales Operating profit 350 120 300 100 250 80 200 60 150 40 100 50 20 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 Full Year 2021 results presentation © Orion Corporation 10 February 2022 38
Slide 39: Quarterly net sales by unit (MEUR)
Quarterly net sales by unit (MEUR) Proprietary Products Specialty Products 150 150 100 100 50 50 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2017 2018 2019 2020 2021 2017 2018 2019 2020 2021 Animal Health Fermion & Contract Manufacturing 30 30 20 20 10 10 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2017 2018 2019 2020 2021 2017 20