Santhera Pharmaceuticals Holding Ag · SIX:SANN
Santhera Pharmaceuticals — H1 2026 Earnings Presentation
35 slides from Santhera Pharmaceuticals's earnings presentation, Sep 30, 2026
Slide 1: Santhera Half Year Results Presentation
Santhera Half Year Results Presentation Six months ended 30 June 2026 30 September 2026
Slide 2: Santhera speakers today
Santhera speakers today Orlando Oliveira Catherine Isted Dr. Shabir Hasham CEO CFO CMO 2
Slide 3: Disclaimer
Disclaimer This presentation is not and under no circumstances to be construed as a solicitation, offer, or recommendation, to buy or sell securities issued by Santhera Pharmaceuticals Holding AG. Santhera Pharmaceuticals Holding AG makes no representation (either express or implied) that the inform
Slide 4: HY 2026: Strong commercial momentum and expanding global access for AGAMREE
HY 2026, Strong commercial momentum and expanding global access position AGAMREE® for continued growth 1 Four of five major EU markets now commercially launched 5 Long-term data further reinforce AGAMREE®’s differentiated • Pricing and reimbursement agreements secured in Spain and Italy profile • Co
Slide 5: EU Market access expanding, direct and via distributors
EU Market access expanding Direct and via Distributors Commercialized in 4 of 5 major markets Germany, UK, Spain, Italy Plus, Austria and Luxembourg Also available in Europe, through Other mid-sized countries Genesis, in 13 Nordics, Belgium, Netherlands, Switzerland, countries: Portugal, Ireland Foc
Slide 6: Rapid adoption of AGAMREE by patients and payers across launched markets
Rapid adoption of AGAMREE® by patients and payers across launched markets Germany United Kingdom H1 2026 German volumes up >50% vs H1 2025 Orders increased by more than 40% in Q2 2026 compared with Q1 2026 In Germany over 40% of steroid using DMD patients now treated with AGAMREE Uptake continued to
Slide 7: Strong momentum across distributor markets
Strong momentum across distributor markets Commercial momentum continued to strengthen across Santhera’s distributor markets ‒ Genesis (Central and Eastern Europe) and Megapharm (Israel) delivering strong sales growth ‒ Increasing contributions from other distribution partners In September, Genesis
Slide 8: Significant geographic expansion in ROW since mid 2025
Significant geographic expansion in ROW since mid 2025 Recent international partnership Opportunity for additional mid- to long-term expansion across key markets: revenue and profitability with limited investment ⚫ Türkiye (Gen Ilac) Aug 25 ⚫ Kazakhstan (Biomedica) Jul ⚫ GCC (Uniphar) Aug 25 26 ⚫ In
Slide 9: USD 215 Mio APAC licensing deal with Nxera (Jan 2026)
USD 215 Mio APAC licensing deal with Nxera (Jan 2026) USD 40 Mio upfront Addressing unmet needs in Japan and beyond USD 30 Mio cash and USD 10 Mio equity at CHF 14.9 (20% premium Nxera is the exclusive strategic licensing partner for to 30-day VWAP) AGAMREE in Japan, South Korea, Australia and New Z
Slide 10: Nxera outlines broader ambitions for AGAMREE
Nxera outlines broader ambitions for AGAMREE® Nxera has indicated plans to expand AGAMREE®’s regulatory footprint and indication scope in Japan Targeted filing for regulatory Additional rare disease indications H2 2027 approval in Japan in DMD 3 under consideration in Japan Potential indication expa
Slide 11: Catalyst (now Angelini Pharma) continuing strong US momentum
Catalyst (now Angelini Pharma) Continuing Strong US momentum Continuing strong momentum with US partner Catalyst , now part of Angelini Pharma Catalyst reported AGAMREE® net product revenue of USD 36.7 million in Q1 2026, up from USD 22.0 Mio in Q1 2025 Angelini Pharma completed its acquisition of C
Slide 12: China progressing well following commercial launch
China progressing well following commercial launch 2023 2024 2025 2026 Q3 Q4 Q1 Q2 Q3 Q4 H1 H2 H1 H2 Filing Approval Soft Mar 27 Dec Launch Reaching patients in China Sperogenix continues non-reimbursed commercial rollout of AGAMREE®, following launch in September 2025 Patient numbers continue to gr
Slide 13: Positive Long-Term Data (inc. GUARDIAN data) Presented March 2026
Positive Long-Term Data (inc. GUARDIAN data) Presented March 2026 Durable efficacy, markedly improved safety vs. standard corticosteroids in DMD Study Overview Efficacy Open-label, multicenter study evaluating Comparable long-term effectiveness to classic corticosteroids, both AGAMREE® (vamorolone)
Slide 14: Vamorolone improves long-term bone health vs standard glucocorticoids in DMD
Vamorolone improves long-term bone health vs standard glucocorticoids in DMD Substantially Lower Vertebral Fracture Risk Prevalence of boys with ≥1 vertebral fracture (A) and vertebral fracture Significantly lower severity (B) vertebral fracture prevalence with vamorolone vs classic CS 8.1% (3/37) o
Slide 15: Vamorolone maintains efficacy with improved growth vs standard glucocorticoids
Vamorolone maintains efficacy with improved growth vs standard glucocorticoids in DMD Comparable long-term effectiveness Maintained growth without compromising motor function Time to loss of ambulation comparable vs classic CS Height trajectories/growth maintained with vamorolone Efficacy maintained
Slide 16: Independent Real-World Vamorolone Use in Adult DMD
Independent Real-World Vamorolone Use in Adult DMD Investigator-Led Chart Review — ICNMD 2026 First independent description of vamorolone use in adult DMD patients in Germany and Austria Evaluable patients with 25 Adult DMD patients (Munich & Vienna) 19/25 Previously treated with a corticosteroid 8
Slide 17: Financial Highlights – Half year ending 30 June 2026
Financial Highlights – Half year ending 30 June 2026 1 5 Total revenue grew 101% to CHF 48.3 Mio (H1 2025: Global AGAMREE sales exceeded USD 175 Mio (on a CHF 24.0 Mio) four-consecutive-quarter basis in Q2 2026) • Strong growth in AGAMREE sales • Triggering a USD 20 Mio (CHF 16.3 Mio) milestone paym
Slide 18: 2026 financial guidance and longer-term outlook
2026 financial guidance and longer-term outlook 2026 revenue guidance maintained: FY revenues of CHF 80-90 Mio • Product sales are anticipated to grow by more than 50% • Royalty income is expected to increase year-on-year. However, royalty income from Catalyst will lag underlying US sales • Mileston
Slide 19: Expected News Flow Through Q4 2026 and 2027
Expected News Flow Through Q4 2026 and 2027 Pricing agreement and commercial launch in other mid-sized EU countries Distribution agreement in South America Further long-term data from the GUARDIAN study Indication expansion updates from licensing partners In-licensing of additional product(s) enhanc
Slide 20: Clear strategy with four pillars of revenue generation
Clear strategy with four pillars of revenue generation Self commercialization Acquire rights to additional in core European synergistic late-stage countries rare/orphan assets Geographical Additional expansion indications Go direct in Acquire rights Europe to assets Grow AGAMREE® Leverage in synergy
Slide 21: Thank you
Thank you For your time Any Questions ? 21
Slide 22: Appendix
APPENDIX santhera
Slide 23: Santhera Pharmaceuticals: A Fully Integrated Commercial Stage Specialty Pharma Company
SIX Swiss Exchange listed company (SANN) Santhera • Global headquarters near Basel (Switzerland) • About 110 employees; will remain <150 employees Pharmaceuticals AGAMREE® is a differentiated product in Duchenne muscular dystrophy (DMD) A Fully Integrated • A unique dissociative corticosteroid which
Slide 24: DMD is one of the largest rare disease markets with a clearly defined patient group
DMD is one of the largest rare disease markets with a clearly defined patient group Around 300’000 individuals affected globally Western Europe 90% of patients are diagnosed in NA/Europe 13’000 50-75% of patients are on steroid treatment Central Patients are treated in Europe 4’000 specialized cente
Slide 25: Large global DMD market with significant growth runway
Large global DMD market with significant growth runway Europe 17 markets Own commercialization 13’000 patients (100% of net sales) North America 3 markets > € 150 Mio* 15’000 patients > $ 350 Mio* China/SE Asia 15 markets Upfront payment 90’000 patients Milestone payments (70’000 + 20’000) Royalty i
Slide 26: Targeting 5,000 patients on AGAMREE in Santhera European territory by 2030
Targeting 5’000 patients on AGAMREE® in Santhera European territory by 2030 13’000 13’000 DMD prevalence prevalent patients and Current corticosteroid (CS) use 8’000 estimated 50-75% (~8'000) of European patients patients age on standard distribution corticosteroids 8’000 Age (y) 10 20 30 2030 Intro
Slide 27: Targeting sales of EUR 150 Mio in Santhera territory by 2030
Targeting sales of EUR 150 Mio in Santhera territory by 2030, with growth expected to continue until 2035 TYPICAL PATIENT Annual cost (EUR) Weight 33 kg 60’000 45’000 Dose 5.2 mg/kg/d 30’000 150m EUR 15’000 4’000 5’000 6’000 8’000 13’000 Bottles 1.3 per month 15 bottles per year Estimated pati
Slide 28: Expanding manufacturing capacity
Expanding manufacturing capacity Santhera’s additional manufacturing site now online Q4 2025: First supply ready from second CMO Ensures supply for geographical expansion Strengthens supply chain resilience and security of supply Streamlines supply chain & reduces lead times Significant cost efficie
Slide 29: Summary of revenue/royalty streams
Summary of revenue/royalty streams Direct markets Distributors Licensed (Western Europe) (Eastern Europe & other) Catalyst / Sperogenix Revenues booked Low-high teens Booked revenue guidance 100% >60% 2028: EUR 150 Mio to SANN % gross royalty* Royalty payment (less mid-high (less mid-high (less mid-
Slide 30: Summary royalty stream
Summary royalty stream Total gross royalty (low-high teens %*) Royalty payments to originator (mid-high single digit %*) $’s Net royalty payments (mid single digits up to 11%) Royalty payments to Royalty payments CBC and Partners Group retained by SANN TIME 30 * For sales <$500 Mio, for sales >$500
Slide 31: Share Capital and Major Shareholders
Share Capital and Major Shareholders Share Capital – as of 31 August 2026 Number ‘000 Comments Listed shares outstanding 15,896 Less Treasury (638) Basic shares outstanding 15,258 Dilution CHF 8,900k, Remaining to convert at a strike of CHF 13.5446 Convertible bonds 657 Matures Sept 2028 Warrants 23
Slide 32: Protection of vamorolone through patents and orphan exclusivity
Protection of vamorolone through patents and orphan exclusivity • Patent portfolio under exclusive license from ReveraGen • Granted use patents in DMD until 2029 with expected patent term extension by up to 5 years, i.e., 2034* • Granted US patent to protect vamorolone crystal form (polymorph) and s
Slide 33: Nimble commercial setup supports markets
Nimble commercial setup supports markets Headquarters functions support own country teams, licensing and commercialization partners License Partners Catalyst (North America) Sperogenix (Greater China/SEA) Nxera (Japan, S. Korea, Australia, New Zealand) Quality Medical & PV Affairs Santhera Germany,
Slide 34: Executive Management Team
Executive Management Team Orlando Oliveira Catherine Isted Dr. Oliver P. Chief Executive Officer Chief Financial Officer Kronenberg Chief Legal Officer and Secretary to the Board Dr. Shabir Hasham Marc Schrader Marc Clausse Chief Medical Officer Chief Technology Officer Chief Commercial Officer 34
Slide 35: We have everything in place to successfully serve the DMD market
We have everything in place to successfully serve the DMD market A differentiated A clear A strong & A nimble No additional product with growth growing partner organization funding required worldwide rights strategy network with expertise 35
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