Recordati S.p.a. · MIL:REC
Recordati — Investor Presentation (December 2003)
14 slides from Recordati's investor presentation, Dec 11, 2003
Slide 1: Focus on pharma
Focus on pharma Milan, December 11, 2003
Slide 2: Key events in 2003
Key events in 2003 • 20mg strength of lercanidipine approved in Europe and other countries. Launched in Germany, France and Australia • Entact ® (escitalopram) launched in Italy • A new product (rupatadine) licensed in Spain • Successful re-launch of Octegra® (moxifloxacine) in Italy • All rights to
Slide 3: Operational highlights: First nine months 2003
Operational highlights First nine months 2003 • Pharmaceutical sales up 4.6%, excluding non- recurring 2002 revenue from U.S. lercanidipine • Significant growth of lercanidipine sales • Italian pharmaceutical sales increase by 9.7% • Third quarter EBIT and net income margins improve over first two q
Slide 4: Main products
Main products Breakdown of 12 months pharmaceutical sales at September 2003 Zanidip (lercanidipine) 21% 10% Elopram (citalopram) 8% Peptazol/Ulcotenal (pantoprazole) 5% Tora-Dol (ketorolac) Other Products 4% Hexa line (biclotimol) Main 22% 4% Isocef (ceftibuten) Products 3% Exomuc (acetylcysteine) O
Slide 5: Lercanidipine – Roll out status and plan
Lercanidipine – Roll out status and plan 55 launches 16 additional approvals USA ROW modified release formulation 27 filings in development EUROPE 1998 Italy, Spain, UK 2000 Germany 2001 France (Pie slices represent relative JAPAN market value of calcium channel local phase III studies blockers) lau
Slide 6: Lercanidipine as a % of all calcium channel blockers
Lercanidipine as a % of all calcium channel blockers Bubble size represents $ market value of CCB’s 12 Italy % share of CCB market France S.Korea 10 8 Austria Australia Germany 6 Spain Belgium 4 U.K. 2 Holland 0 0 2 4 6 8 10 12 14 16 18 20 22 24 26 Quarters from launch Source: IMS data - 3Q 2003 5
Slide 7: Lercanidipine market share growth
Lercanidipine market share growth 11.0% 9.5% Source: IMS data 8.5% Italy 10.0% France 7.5% 6.5% 9.0% 5.5% 8.0% 4.5% 1Q 02 2Q 02 3Q 02 4Q 02 1Q 03 2Q 03 3Q 03 1Q 02 2Q 02 3Q 02 4Q 02 1Q 03 2Q 03 3Q 03 9.0% 7.0% 6.0% 8.0% Germany Australia 5.0% 7.0% 4.0% 6.0% 3.0% 5.0% 2.0% 4.0% 1.0% 1Q 02 2Q 02 3Q 02
Slide 8: Product pipeline
Product pipeline LERCANIDIPINE modified release formulation for the U.S. market REC 0545 LERCANIDIPINE 20 mg LERCANIDIPINE /ENALAPRIL (overactive bladder/ COMBINATION (hypertension) 2 NEW urinary incontinence) EU and PROJECTS LERCANIDIPINE others Germany (overactive (hypertension) France bladder) RE
Slide 9: Filling the pipeline: Ongoing R&D
Filling the pipeline: Ongoing R&D • Lercanidipine: • 20mg strength approved in Europe and other countries. Launched in Germany, France and Australia • Modified release formulation under development with Forest Labs for the U.S. market • Further recognition of superior clinical profile • Patent life
Slide 10: Filling the pipeline: Ongoing R&D
Filling the pipeline: Ongoing R&D • Lercanidipine-enalapril fixed combination: • New aggressive targets for blood pressure control • Combination of drugs needed for most patients • Patient compliance • Fixed combinations will play a significant role in the future hypertension market • Phase III near
Slide 11: Filling the pipeline: Ongoing R&D
Filling the pipeline: Ongoing R&D • Urology: • REC 0545, a 5HT1A receptor antagonist for the treatment of unstable bladder. Proof of concept clinical program in preparation • REC 2615, in development for the treatment of female sexual dysfunction, approaching clinical phases • Two new discovery proj
Slide 12: Outlook for 2003
Outlook for 2003 • Favorable outlook for pharmaceuticals: sales growth in Europe in spite of price reductions, other cost containment measures • Lercanidipine market share increase in markets where launched • Pharmaceuticals grow on a comparable basis • Pharmachem performance below that of last year
Slide 13: Outlook for 2004
Outlook for 2004 • Focus will be on the pharmaceutical business • Pharmaceutical chemicals business to be disposed of within the first quarter • Sophartex to be sold within the next few months • On a comparable basis: • Pharmaceutical sales to increase by 5 to 10% • R&D expenditure to increase signi
Slide 14: Forward-looking statements
Statements contained in this presentation, other than historical facts, are “forward- “forward- looking statements” (as such term is defined in the Private Securities Litigation Reform Act of 1995). 1995) . These statements are based on currently available information, on current best estimates, and