Innoviva, Inc. · NASDAQ:INVA
Innoviva — Investor Presentation (December 2021)
17 slides from Innoviva's investor presentation, Dec 13, 2021
Slide 1: Corporate Presentation December 2021
Corporate Presentation December 2021
Slide 2: Forward-looking statements
Forward - looking statements The information in this presentation contains forward - looking statements within the meaning of Section 27 A of the Securities Act of 1933 , as amended (“Securities Act”), and Section 21 E of the Securities Exchange Act of 1934 , as amended . Such forward - looking stat
Slide 3: Sustainable royalty cashflows combined with long-term capital deployment strategy
Innoviva combines sustainable royalty cashflows with a long - term capital deployment strategy to drive innovation and maximize shareholder value Robust, valuable royalty portfolio Thoughtful, accretive capital deployment Long - term shareholder value creation + = Significant royalties from a durabl
Slide 4: Valuable royalty portfolio from widely used respiratory therapies commercialized by GSK
Innoviva has a valuable royalty portfolio comprised of robust, durable revenues stemming from widely used respiratory therapies commercialized by GlaxoSmithKline 2020 global net sales ($B) Key royalty terms 2020 Innoviva royalties 1 ($M) Totals 15% on first $3B in annual sales; 5% on sales over $3B
Slide 5: Royalty product portfolio has demonstrated resilience and growth
Our royalty product portfolio has demonstrated resilience and growth; we remain excited about its long - term potential while we build out the next generation of high impact products Sizeable and differentiated Resilient and durable Diversified and growing • Differentiated respiratory therapies port
Slide 6: Innoviva actively deploys its capital to maximize shareholder value
Innoviva actively deploys its capital to maximize shareholder value Over the past twelve months we strategically repurchased GSK’s equity stake for ~$400M and deployed $300M+ into high - potential assets – with $500M+ equity and investments currently on the balance sheet Continued active search for
Slide 7: Strategic transactions detail: thoughtful and disciplined approach to deals
Strategic transactions detail: we approach deals in a thoughtful and disciplined manner We target fundamentally attractive , yet often overlooked or contrarian , healthcare areas where our capital and capabilities can make a difference We look for differentiated assets with meaningful value creation
Slide 8: Strategic investment case study: infectious disease
Strategic investment case study: infectious disease Infectious disease therapeutics have focused primarily on common bacteria diseases; however, there is a clear need for improved therapeutics for specific bacterial diseases, along with viral and fungal diseases Infectious disease has recently falle
Slide 9: Innoviva is the sole manager of all Trelegy royalties via TRC
Innoviva is the sole manager of all Trelegy royalties via TRC, seeking to maximize long - term equity holder value 9 1 – Ending 3Q2021; Projections per analyst consensus on GSK forecast website accessed Nov 26, 2021; GBP converted to USD using N ov 26 exchange rate of $1.33; projections shown for 20
Slide 10: Management and board expertise in healthcare and value creation
Innoviva’s management and board have world - class expertise in healthcare and single - minded focus on value creation – brought to bear for the benefit of shareholders Board of directors George Bickerstaff, Chairperson Mark DiPaolo, Esq. Odysseas Kostas, M.D. Deborah L. Birx, M.D. Jules Haimovitz S
Slide 11: Why Innoviva
Why Innoviva 5 Efficient and flexible platform enabling meaningful, sustainable value generation 4 Strong track record of growth and unrelenting value creation focus 3 Thoughtful, robust approach to capital deployment with long - term horizon 2 Deep and proven healthcare expertise – across governanc
Slide 12: Appendix
Appendix 12
Slide 13: Relvar / Breo detail
Relvar / Breo detail: First once - daily inhaled corticosteroid / long - acting beta - agonist for asthma and chronic obstructive pulmonary disease RELVAR ® / BREO ® ELLIPTA ® • Launched in 2013 as first and only once - daily ICS / LABA in the US • Relvar / Breo delivers superior, lasting proactive
Slide 14: Anoro detail
18 29 41 43 46 0 20 40 60 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.3 0.4 0.6 0.7 0.7 0.7 0.7 0.8 0.8 0.8 0.0 0.2 0.4 0.6 0.8 1.0 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Anoro detail: Best - in - class long - acting beta - agonist / long - acting muscarinic antagonist for COPD AN
Slide 15: Trelegy detail
0 13 43 73 0 50 100 150 200 250 2017 2018 2019 2020 2021 2022 2023 2024 2025 0.0 0.2 0.7 1.1 1.6 2.0 2.3 2.5 2.7 0.0 0.5 1.0 1.5 2.0 2.5 3.0 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trelegy detail: First 3 - in - 1 inhaled corticosteroid / long - acting beta - agonist / long - acting muscarinic
Slide 16: Portfolio products protected by robust IP estate
Innoviva’s portfolio products are protected by a robust IP estate with meaningful remaining exclusivity Manufacturing complexity provides further protection Primary US patent ANORO ® ELLIPTA ® RELVAR ® / BREO ® ELLIPTA ® TRELEGY ® ELLIPTA ® Potential expiration Key secondary US patent Potential expi
Slide 17: TRC additional information
TRC additional information • While TRC actively manages its royalty - producing relationship with GSK, under the LLC Agreement TRC is permitted to “engage in any lawful business”; additionally, Innoviva was granted broad “decision - making authority as to the LLC” • There have been two separate arbi