Amneal Pharmaceuticals, Inc. · NASDAQ:AMRX
Amneal Pharmaceuticals — Q1 2022 Earnings Presentation
20 slides from Amneal Pharmaceuticals's earnings presentation, May 4, 2022
Slide 1: Q1 2022 Earnings Call
Q1 2022 Earnings Call May 4, 2022 g
Slide 2: Cautionary Statement on Forward Looking Statements
Cautionary Statement on Forward Looking Statements Certain statements contained in this presentation, regarding matters that are not historical facts, may be forward-looking statements (as defined in the U.S. Private Securities Litigation Reform Act of 1995). Such forward-looking statements include
Slide 3: Agenda and Today's Participants
Q1 2022 Earnings Call Agenda Today’s participants 1 Business Update Chirag and Chintu Patel, Co-CEOs 2 Financial Results Tasos Konidaris, EVP & CFO Chirag Patel, Chintu Patel, Tasos Konidaris, Co-CEO Co-CEO EVP & CFO 3 Closing Remarks Chirag Patel, Co-CEO 4 Q&A Andy Boyer, Joe Todisco, Jason Daly, S
Slide 4: Key Takeaways for Q1 2022
Key Takeaways for Q1 2022 • Q1 net revenue of $498M, adjusted gross margin Solid execution of 43.5% and adjusted EBITDA of $100M(1), driven in Q1’22 by continued strong operational performance and in-line with our expectations • First U.S. biosimilars approved with Releuko® Cadence of new (filgrasti
Slide 5: Our strategy for growth as a global essential medicines company
Our strategy for growth as a global essential medicines company $ millions Strategy for growth Focused on impact Retail Grow our top 5 U.S. Generics portfolio of 225+ products with 20-30 new product launches each year and increasingly focused on complex areas Top 5 U.S. Generics Expand portfolio of
Slide 6: Focused on affordable, essential medicines for patients in need
Focused on affordable, essential medicines for patients in need Recently, first two U.S. biosimilars were approved with Releuko® Innovation (filgrastim-ayow) and Alymsys® (bevacizumab-maly) as we believe biosimilars are the next wave of U.S. affordable medicines Amneal is a In March, we were one of
Slide 7: Diversified portfolio with low product concentration
GENERICS | SPECIALTY | AVKARE Diversified portfolio with low product concentration Purposeful mix shift to more complex Generics portfolio Diversified revenues with low product concentration Generics net revenues mix ($’s) Pipeline mix Revenue contribution by product and segment (# of products) 2021
Slide 8: Our wheel of innovation in Generics keeps turning
GENERICS Our wheel of innovation in Generics keeps turning Developing pipeline across increasingly complex dosage forms with 86% non-oral solids ~101 pipeline products with Oral Solids: 47 Injections: 28 Ophthal/Otic: 8 ~$38B TAM $17,887 $2,482 $2,612 $2,624 Pending $8,164 $952 ANDA’s $1,454 $4,944
Slide 9: Entering the U.S. biosimilar market with key oncology products
BIOSIMILARS Entering the U.S. biosimilar market with key oncology products Our biosimilars strategy: • First biosimilars, Releuko® and Alymsys®, were approved; pegfilgrastim biosimilar next Approved U.S. Alymsys® Releuko® • Expanding portfolio through in-licensing biosimilars where we can be early t
Slide 10: Expanding branded portfolio expected to drive growth
SPECIALTY Expanding branded portfolio expected to drive growth Organic growth of existing products + New branded launches in the pipeline (1) + Business development $85M 2022 2023 2024 2025 2026 (1) LYVISPAH TM • Pursue strategic, accretive • Rytary revenue (6%) (2) DHE transactions focused on with
Slide 11: Branded pipeline expected to expand portfolio and create value
SPECIALTY Branded pipeline expected to expand portfolio and create value LYVISPAHTM DHE Autoinjector IPX-203 K-127 K-114 K-128 Product Baclofen oral granules Dihydroergotamine Carbidopa-levodopa Pyridostigmine QD, LT3 sustained release THP hydrochloride (FDA approved Nov. 2021) mesylate oral extende
Slide 12: Entering select international markets with impactful products
INTERNATIONAL Entering select international markets with impactful products (1) MARKET SIZE Expect to be commercial in $197B 2025 China late 2022 or early 2023 with 5 products filed and 10-15 planned for year-end, and more $168B over time with our partner Fosun TODAY Building a presence in India $36
Slide 13: Q1 2022 Results – In line with expectations
Q1 2022 Results – In line with expectations Results (1) Q1 2022 Q1 2021 Change Key Drivers / Commentary $ millions except for EPS • Single digit Generics and double digit AvKARE growth offset declines of Net Revenue $498 $493 +0.9% non-promoted Specialty brands • Timing of manufacturing overhead abs
Slide 14: Q1 2022 Performance by Segment
Q1 2022 Performance by Segment Results (1) First Quarter Key Drivers / Commentary $ millions 2022 2021 $318 $313 Net Revenue • New products launched in 2021 and 2022 contributed $14M in growth +1.7% Generics Adjusted 42.1% 44.6% • Timing of manufacturing overhead absorption and phasing of new Gross
Slide 15: Maintaining full year 2022 guidance
Maintaining full year 2022 guidance $ millions except for 2022 Guidance 2021 Actual (1) Adjusted Diluted EPS Net Revenue $2,150 - $2,250 $2,094 (2) Adjusted EBITDA $540 - $560 $512 (2) (3) Adjusted Diluted EPS $0.80 - $0.85 $0.78 Weighted Average Diluted (4) ~307 million 304 million Shares Outstandi
Slide 16: Balance sheet and liquidity update
Balance sheet and liquidity update $ millions March 31, 2022 December 31, 2021 (1) Current portion and long-term debt $2,703 $2,711 (2) Cash and cash equivalents $217 $257 (3) Net Debt $2,487 $2,454 (4) LTM Adjusted EBITDA $497 $512 Gross Debt to LTM Adjusted EBITDA 5.4x 5.3x Net Debt to LTM Adjuste
Slide 17: We make healthy possible
We make healthy possible TM 17
Slide 18: Reconciliation of net (loss) income to EBITDA and adjusted results
Reconciliation of net (loss) income to EBITDA and adjusted results ($) in millions Three months ended Twelve Months Ended ($) in millions Three months ended Twelve Months Ended March 31, 2022 March 31, 2021 December 31, 2021 March 31, 2022 March 31, 2021 December 31, 2021 Net (loss) income $ (6.5) $
Slide 19: Reconciliation of cost of goods sold and gross profit to adjusted results
Reconciliation of cost of goods sold and gross profit to adjusted results ($) in millions Three months ended Reconciliation of Generics Gross Profit to Adjusted Gross Profit March 31, 2022 March 31, 2021 ($) in millions Three Months Ended March 31, 2022 Three Months Ended March 31, 2021 As Reported
Slide 20: Additional Reconciliations
Additional Reconciliations Reconciliation of selling, general & administrative to adjusted selling, general & administrative expense: Reconciliation of research and development to adjusted research and development: ($) in millions Three Months Ended ($) in millions Three Months Ended March 31, 2022
Amneal Pharmaceuticals — Q1 2022 Earnings Presentation on 6ix