Kyowa Kirin Co., Ltd. · TSE:4151
Kyowa Kirin — Q1 2021 Earnings Presentation
22 slides from Kyowa Kirin's earnings presentation, 2021
Slide 1: Results Presentation Fiscal 2021 First Quarter
Results Presentation Fiscal 2021 First Quarter
Slide 2: Agenda
Agenda Financial Review Executive Officer, Head of Finance Motohiko Kawaguchi Commercial Update Managing Executive Officer, Corporate Strategy & Planning Takeyoshi Yamashita, Ph.D. R&D Update Executive Officer, Vice President, Head of R&D Yoshifumi Torii, Ph.D. Q&A Executive Officer, Head of Finance
Slide 3: Forward-looking statements
This document contains certain forward‐looking statements relating to such items as the company’s (including its domestic and overseas subsidiaries) forecasts, targets and plans. These forward‐looking statements are based upon information available to the company at the present time and upon reasona
Slide 4: Financial Review
Financial Review © Kyowa Kirin Co., Ltd. 4
Slide 5: Summary of Q1 Results
Summary of Q1 Results ( Billion Yen / Rounded ) 2020Q1 2021Q1 Changes 2021 Progresses Results Results Plans Revenue 77.3 81.1 +3.8 (+5%) 351.0 23% [Overseas Ratio] [44%] [50%] [54%] Gross Profit 57.9 58.7 +0.8 (+1%) 270.0 22% [Gross Profit Margin] [75%] [72%] [77%] SG&A 29.7 31.7 +1.9 (+7%) 141.0 22
Slide 6: YoY Analysis - Revenue
YoY Analysis ‐Revenue‐ Japan ‐1.8 Crysvita, Haruropi, Duvroq (New products), Patanol (Higher pollen) and G‐Lasta (Market’s +3.8 billion yen expansion & recovery) increased. However, Nesp‐AG (Competitors) and Romiplate (Supply constraints) were down. In addition, there were negative impacts by NHI
Slide 7: Revenue of Major Items (Japan)
Revenue of Major Items (Japan) ( Billion Yen / Rounded ) 2020Q1 2021Q1 Changes 2021 Progresses Item Results Results Reasons Plans Nesp + Nesp‐AG*1 7.4 6.5 ‐1.0 (‐13%) 23.2 28% Nesp 1.2 1.0 ‐0.2 (‐19%) Biosimilars’ penetration 3.8 25% Nesp‐AG 6.3 5.5 ‐0.7 (‐12%) 19.4 28% Duvroq ー 0.2 +0.2 (ー) Launche
Slide 8: Revenue of Major Items (ex-Japan)
Revenue of Major Items (ex‐Japan) ( Billion Yen / Rounded ) 2020Q1 2021Q1 Changes 2021 Progresses Item Reasons Results Results Plans Crysvita 12.0 16.3 +4.3 (+36%) [North America] Market penetration 77.2 21% & Expanded indication (TIO) North America 9.2 11.7 +2.5 (+28%) [EMEA] Farther launches & Exp
Slide 9: YoY Analysis - Core OP
YoY Analysis ‐Core OP‐ ‐1.2 billion yen (incl. forex effect ‐0.4) Gross Profit +0.8 (incl. forex effect ‐0.9) • Despite the revenue was up by 3.8B yen, it resulted in 0.8B increase due to the elimination of intercompany profits on inventories, etc. SG&A ‐1.9 (incl. forex effect +0.3) • Increased
Slide 10: YoY Analysis - Profit
YoY Analysis ‐Profit‐ Profit (Jan‐Mar) ‐0.9 billion yen • UK subsidiary boosted differed tax assets in Q1 2020 • Business restructuring expenses (1.6→0.1) +1.5 Core Operating Profit ‐1.2 Profit Before Tax +0.6 © Kyowa Kirin Co., Ltd. 10
Slide 11: Commercial Update
Commercial Update © Kyowa Kirin Co., Ltd. 11
Slide 12: Crysvita Topics and Quarterly Sales
（Billion Yen） 20 Topics 1.5 Steady sales in Japan, North America, and EMEA even under the 1.4 influence of COVID‐19. 15 In EMEA, indications for adult were expanded in Luxembourg, 1.1 Oman, Kuwait, and Qatar during the Q1 period. 0.8 0.5 Sales in Germany are steadily increasing due to the expa
Slide 13: Product Topics and Quarterly Sales
（Billion Yen） 5 4 Topics 0.5 0.6 0.5 3 0.5 Approved in Australia (Jan) 0.5 Application for marketing authorization in Kuwait (Feb) 2 Japan 2.8 2.6 2.6 Application for marketing authorization in Canada (March) 2.9 North America 1 2.4 0.6 EMEA Launched Countries as of March 31, 2021 0 0.2 0.4 20
Slide 14: R&D Update
R&D Update © Kyowa Kirin Co., Ltd. 14
Slide 15: Upcoming events: our Next-generation Strategic Products
Upcoming events: our Next‐generation Strategic Products : Completed events from Jan 1 to May 6, 2021 Code Target disease H1 2021 Mid‐2021*1 H2 2021 generic name KHK4083 Atopic dermatitis P2b topline data P2b detailed data KW‐6356 Parkinson’s disease P2b detailed data ME‐401 FL (3L, mono) P2 LPI P2 t
Slide 16: Appendix
Appendix © Kyowa Kirin Co., Ltd. 16
Slide 17: FOREX Information
FOREX Information Average FOREX Rate (Yen) Currency 2020Q1 2021Q1 Change 2021 Results Results Plans USD/JPY 110 105 ‐5 105 GBP/JPY 143 143 － 140 2021Q1 FOREX Impacts (YoY) (Billion yen) Currency Revenue Core OP USD/JPY ‐1.0 ‐0.5 GBP/JPY － － FY2021 FOREX Sensitivity (Billion yen) Currency Changes Rev
Slide 18: Crysvita - Collaboration with Ultragenyx
Crysvita ‐ Collaboration with Ultragenyx ‐ Territories Economic terms • Kyowa Kirin books sales • 50/50 profit share for 5 years from the U.S. launch U.S. & Canada • After 5 years, Kyowa Kirin pays tiered sales royalties in mid‐high 20% range to Ultragenyx • Supply price: 35% of net sales through 20
Slide 19: Development Plan of Next-generation Strategic Products
Development Plan of Next‐generation Strategic Products T : Topline data D : Detailed data As of May 6th, 2021 Code ＋ generic name Target disease 2021 2022 2023 P2b T D KHK4083 Atopic dermatitis P3 P2b D KW‐6356 Parkinson’s disease P3 FL (mono, 3L) P2 T ME‐401 MZL (mono, 3L) P2 Zandelisib FL/MZL (com
Slide 20: Estimated Patient Numbers
Estimated Patient Numbers Country/ Disease Incidence Prevalence* Reference Region ATL JP 1,150 / y Survey and countermeasures to HTLV‐1 infection and related diseases in Japan. 2009 summary research report (Yamaguchi, 2010 PTCL JP 2,000 Ministry of Health, Labour and Welfare: 2017 Patient survey (il
Slide 21: List of Acronyms
List of Acronyms AA Aplastic Anemia AD Atopic Dermatitis AG Authorized Generic ATL Adult T‐Cell Leukemia/Lymphoma BS Biosimilar CKD Chronic Kidney Disease CKD‐MBD Chronic Kidney Disease‐Mineral and Bone Disorder DKD Diabetic Kidney Disease ENS Epidermal Nevus Syndrome FL Follicular Lymphoma FSGS Foc
Slide 22: Kyowa Kirin Co., Ltd. Corporate Communications Dept., IR Group
Kyowa Kirin Co., Ltd. Corporate Communications Dept., IR Group +81‐3‐5205‐7206 / ir@kyowakirin.com