Recordati S.p.a. · MIL:REC
Recordati — Lehman Brothers 2007 Global Healthcare Conference
12 slides from Recordati's conference presentation, Mar 21, 2007
Slide 1: Growing internationally
Lehman Brothers 2007 Global Healthcare Conference, Miami, 21 March 2007 Growing internationally
Slide 2: Company profile
Company profile ¾ A fully integrated pharmaceutical company listed on the Italian Stock Exchange since 1984 ¾ Original research focused on cardiovascular and urological fields ¾ A European company - marketing operations in all the main countries (France, Germany, Italy, Spain, UK) and more recently,
Slide 3: Pharmaceutical revenue by geographical area
Pharmaceutical revenue by geographical area UK International licensees Spain 2% 6% 21% Germany 9% % of pharmaceutical 25% 37% revenue Zanidip® (lercanidipine) 32% France Italy Elopram® /Entact® 8% (citalopram/escitalopram) Peptazol® /Ulcotenal® 6% (pantoprazole) Licensed Tora-Dol® (ketorolac) 3% 31%
Slide 4: Zanidip (lercanidipine)
ZANIDIP® (lercanidipine) ¾ Latest generation calcium-channel blocker. Lercanidipine as a % of all Lipophilic dihydropyridine. calcium channel blockers ¾ Natural once a day. Potent, long-lasting Bubble size represents $ market value of CCB’s vasodilatory activity. Highly vasoselective with gradual on
Slide 5: R&D pipeline
R&D pipeline NAME ORIGINATOR INDICATION PHASE Zanipress®/Zanitek® Recordati Hypertension (lercanidipine+enalapril) Approved in the RMS (Germany) cyclosporin Dexcel Immuno-suppressant Filed MRP fentanyl patch Lavipharm Moderate to severe chronic pain Filed in the RMS (UK) rupatadine Uriach Rhinitis,
Slide 6: Zanitek/Zanipress (lercanidipine+enalapril) approved in Germany (RMS)
Zanitek®/Zanipress® (lercanidipine+enalapril) approved in Germany (RMS) ¾ Fixed combinations will play a significant role in the future hypertension market ¾ New aggressive targets for blood pressure control. Combination of drugs needed for most patients ¾ Increased patient compliance ¾ Recent large
Slide 7: Full year 2006 operational highlights
Full year 2006 operational highlights ¾ Revenue € 576.2 million, in line with preceding year ¾ Further increase in profitability, gross margin 66.7%, EBIT margin 20.9%, net income at 12.8% of sales ¾ Lercanidipine sales up 21.2% ¾ Rights to Corifeo® (lercanidipine) in Germany repurchased from licens
Slide 8: Full year 2006 results
Full year 2006 results (million euro) 2006 2005 Change Revenue 576.2 576.1 0.0 % Gross Profit 384.2 375.5 2.3 % as % of revenue 66.7% 65.2% SG&A Expenses 218.3 217.6 0.3 % as % of revenue 37.9% 37.8% R&D Expenses 45.4 45.0 as % of revenue 7.9% 7.8% 1.0 % Operating Income 120.3 111.1 8.3% as % of rev
Slide 9: Lercanidipine sales
Lercanidipine sales (million euro) 2006 2005 Change Italy 40.5 43.6 (7.3) % France 37.1 28.9 28.1 % United Kingdom 10.6 5.1 n.a. Spain 8.5 6.0 42.9 % Germany 3.8 n.a. n.a. DIRECT SALES 100.5 83.6 20.2 % 58.6% 59.1% SALES TO LICENSEES 71.1 58.0 22.7 % 41.4% 40.9% TOTAL LERCANIDIPINE 171.6 141.6 21.2
Slide 10: Net financial position
Net financial position (million euro) 31 Dec 2006 31 Dec 2005 Change Cash and short term financial 145.0 162.8 17.7 investments Bank overdrafts (14.6) (6.0) (8.6) Loans – due within one year (20.4) (22.7) 2.3 Loans – due after one year (87.6) (107.9) 20.2 NET FINANCIAL POSITION 22.4 26.2 (3.8) 9
Slide 11: Targets, strategy and assumptions
Targets, strategy and assumptions (million euro) 2007 2006 Change (million euro) 2010 REVENUE 650 576.2 13% 1,000 REVENUE OPERATING INCOME 132 120.3 10% OPERATING INCOME >200 NET INCOME 83 74.0 12% NET INCOME >120 • Reinforce current geographic coverage in Germany • Profitability of existing busines
Slide 12: Safe harbour and company profile
Safe harbour and company profile Statements contained in this presentation, other than historical facts, are “forward-looking statements” (as such term is defined in the Private Securities Litigation Reform Act of 1995). These statements are based on currently available information, on current best
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