Mayne Pharma Group Ltd. · ASX:MYX
Mayne Pharma — Jefferies Global Healthcare Conference 2023
31 slides from Mayne Pharma's conference presentation, Jun 9, 2023
Slide 1: ASX Announcement: Mayne Pharma to present at Jefferies Healthcare Conference
ASX Announcement MAYNE PHARMA TO PRESENT AT THE JEFFERIES HEALTHCARE CONFERENCE IN NEW YORK CITY 09 June 2023, Adelaide, Australia: Mayne Pharma Group Limited (ASX: MYX) today announced that Shawn Patrick O’Brien, Chief Executive Officer, and Aaron Gray, Chief Financial Officer of Mayne Pharma, will
Slide 2: Mayne Pharma Group Limited – Jefferies Global Healthcare Conference
For personal use only Mayne Pharma Group Limited ASX:MYX Jefferies Global Healthcare Conference June 9, 2023 Shawn Patrick O’Brien, CEO Aaron Gray, CFO
Slide 3: Disclaimer
Disclaimer The information provided is general in nature and is in summary form only. It is not complete and should be read in conjunction with the company’s audited Financial Statements and market disclosures. This material is not intended to be relied upon as advice to investors or potential inves
Slide 4: Mayne Pharma at a Glance
Mayne Pharma at a Glance Specialty Pharmaceutical Company Focused on U.S. Women’s Health & Dermatology For personal use only Putting the right people, products, and processes in place to address the needs of patients and drive long-term sustainable growth in each of our three segments. U.S. Women’s
Slide 5: Mayne Pharma Ecosystem
Mayne Pharma Ecosystem Unique mix of capabilities, including drug sourcing, pharmacy network, and sales access For personal use only DRUG SOURCING PHARMACY NETWORK CUSTOMER COVERAGE • Strong Rx portfolio covering 1/3 • Adelaide Apothecary for cash- • 130+ territory representatives of dermatology pre
Slide 6: How We Got Here
How We Got Here 7 months of significant structural change resetting Mayne Pharma for profitable growth For personal use only ● Organisational ● New U.S. focus on U.S. focused women’s health leadership and dermatology team Patients ● Strategies to maximise potential of PROFITABLE International GROWTH
Slide 7: How We Got Here: Shifting focus to U.S. Women's Health and Dermatology
How We Got Here Shifting focus to U.S. Women’s Health and Dermatology For personal use only Major Investment Sale of U.S. Sale of Metrics in U.S. Women’s Retail Generics Contract Services Health to Dr. Reddy’s Oct Nov Dec Jan Feb Mar Apr 2022 2022 2022 2023 2023 2023 2023 ➢US$475MM ➢Commercializatio
Slide 8: Focused, strategic transition to core product platforms
Focused, strategic transition to core product platforms Women’s Health Dermatology (Branded Products) (Portfolio Products) For personal use only ● Top 2 women’s health platform in U.S. ● Portfolio of 20 products covering range of conditions ● Flagship product NEXTSTELLIS® launched July ‘21, ● Nation
Slide 9: 1H23 Financial Highlights
1H23 Financial Highlights – do not reflect the go forward business A$million1 1H23 1H22 1H23 v 1H22 For personal use only Reported Revenue 101.2 150.4 (33%) Reported Gross Profit 7.9 64.6 (88%) Reported EBITDA (99.2) 66.1 (250%) Reported Net Loss After Tax (129.2) (208.4) (38%) Underlying EBITDA2 (5
Slide 10: Revenue Highlights (A$MM)
Revenue Highlights (A$MM) $28.6 $48.0 1HFY23* For personal use only Branded Products/Women’s Health $13.4 • Portfolio delivering steady revenue growth $11.2 and positive contribution in 2H23 $6.3 Portfolio Products/Dermatology $26.8 $75.5 • Delivering positive net revenue and 2HFY22 contribution mar
Slide 11: Capital Management Plan
Capital Management Plan For personal use only ➢ Divestitures of non-strategic business units put Mayne Pharma in strong cash position - MCS (US$475MM) - U.S. Retail Generics (US$90MM up front + up to US$15MM milestone payments) REPAID Announced PAID A$47MM WOUND DOWN Current CASH A$359MM in BUY BACK
Slide 12: Branded Products Division (BPD): Our Women's Health Franchise
For personal use only Branded Products Division (BPD): Our Women’s Health Franchise
Slide 13: Women's Health: Strategic Rationale
Women’s Health: Strategic Rationale A highly attractive market that offers attractive organic and inorganic growth opportunities For personal use only • Estimated US patient population: - 20mm women use short-acting and long-acting prescription contraceptives Attractive - 32mm menopausal women have
Slide 14: Women's Health Acquisition: Accelerating Our Vision to Become a Leader
Women’s Health Acquisition: Accelerating Our Vision to Become a Leader For personal use only Acquired Portfolio Reproductive Health Menopause Management 13
Slide 15: Building a Leading U.S. Women's Health Business
Building a Leading U.S. Women’s Health Business NEW SALES & MARKETING INFRASTRUCTURE For personal use only ● Increased sales team from 86 → 100 to better reach target customers ● Refreshed team training initiative to improve sales productivity and impact ● Implemented full marketing mix to drive awa
Slide 16: Branded Products Division (BPD) Financial Results
Branded Products Division (BPD) Financial Results For personal use only NEXTSTELLIS® A$million 1H23 2H22 1H22 ● 1HFY23 NEXTSTELLIS® revenues were Reported revenue 13.4 6.3 4.2 US$7.1MM - Up 123% on 2HFY22 (US$3.2m) Reported Gross 10.7 5.1 3.3 Profit - Up 567% on 1HFY22 (US$1.1m) TOLSURA® (SUBA®-itra
Slide 17: BPD/U.S. Women's Health Strategic Priorities
Branded Products Division (BPD)/U.S. Women’s Health For personal use only STRATEGIC PRIORITIES ➢ Successfully implement new commercial strategy for NEXTSTELLIS® to accelerate growth in the US and Australia ➢ Deliver on the full Women’s Health franchise ➢ Improve margins and provide better patient ac
Slide 18: Portfolio Products Division (PPD): Dermatology & Retail Generics
For personal use only Portfolio Products Division (PPD): Dermatology & Retail Generics
Slide 19: Dermatology: Strategic Rationale
Dermatology: Strategic Rationale A highly attractive market that offers attractive organic and inorganic growth opportunities For personal use only • U.S. Dermatology is estimated to be ~ US$10B with a forecasted annual growth rate of 7%-9% over the coming decade Attractive - Ageing population, risi
Slide 20: Building Leadership in the U.S. Dermatology Market
Building Leadership in the the U.S. Dermatology Market For personal use only Specialty Partners Proprietary Brands 19
Slide 21: PPD/Dermatology: Building on strength of market position
Portfolio Products Division (PPD)/Dermatology Building on strength of market position For personal use only CONTINUED MOMENTUM ● Improving momentum following 1H-FY23 channel inventory issues which resulted in recalibration of pricing, GTN and lower volumes in some products ● Seeing positive impact o
Slide 22: Portfolio Products Division (PPD) Financial Results
Portfolio Products Division (PPD) Financial Results For personal use only Dermatology A$million 1H23 2H22 1H22 ● Revenue and contribution materially impacted by inventory work through Reported revenue 59.1 125.6 118.6 following 2HFY22 sales activities - New market entrants affected key Reported Gros
Slide 23: PPD/Dermatology Strategic Priorities
Portfolio Products Division (PPD)/Dermatology For personal use only STRATEGIC PRIORITIES ➢ Build on strength of market position with strong, profitable pipeline of new products to meet broader patient needs ➢ Strengthen contribution margin through channel discipline and effective management of new l
Slide 24: International
For personal use only International
Slide 25: International: Continue profitable growth of International and CDMO business
International Continue profitable growth of International and CDMO business For personal use only ACT ON ORGANISATIONAL DESIGN REVIEW ● Manufacturing improvements/implementation of lean practices underway to enable capacity increase, supply reliability, and cost efficiency ● Ongoing reduction of was
Slide 26: Accelerating International Growth and Profitability
Accelerating International Growth and Profitability NEXTSTELLIS® launch in Australia Federal Government grant to modernise Salisbury For personal use only ● High Speed Encapsulator ● High Speed Blister Packing Line with Serialisation capabilities Continue growth of Australian based CDMO business ● D
Slide 27: International
International A$million 1H23 2H22 1H22 ● KAPANOL® /KADIAN® (morphine) market expansion to treat Reported revenue 27.6 26.8 27.6 For personal use only Opioid Substitution Therapy (OST); Reported Gross - OST approved in Switzerland 8.9 8.8 8.8 Profit - Submitted in Austria Gross Profit % 33% 33% 32% ●
Slide 28: Outlook
For personal use only Outlook
Slide 29: Strategic Priorities for FY23 & FY24
Strategic Priorities for FY23 & FY24 Driving shareholder value # 1 Priority: Deliver full profit Acquire Improve Margins Accelerate For personal use only Accelerate NEXTSTELLIS® potential of Accretive Assets & Access AU Growth growth to profitability Women’s Health Successfully Successfully Deliver
Slide 30: Outlook
Outlook ➢ Significant business transition in FY23 with the completion of the sale of MCS and Retail Generics and the acquisition of the TXMD portfolio For personal use only ➢ Momentum continues to build across BPD/Women’s Health portfolio following acquisition and investment in new products as well
Slide 31: Q&A
Q&A For personal use only Mayne Pharma Group Limited ASX:MYX You deserve tomorrow. 30
Mayne Pharma Group — Jefferies Global Healthcare Conference 2023 on 6ix