Chugai Pharmaceutical Co., Ltd. · TSE:4519
Chugai Pharmaceutical — FY2013 Earnings Presentation
42 slides from Chugai Pharmaceutical's earnings presentation, Jan 30, 2014
Slide 1: Aiming to Become a Top Pharmaceutical Company - 2013 Results and 2014 Outlook
Aiming to Become a Top Pharmaceutical Company - 2013 Res Results lts and 2014 Outlook O tlook - CHUGAI PHARMACEUTICAL CO., LTD. President & COO Tatsuro Kosaka January 30/31, 30/31 2014
Slide 2: Forward Looking Statements
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Aiming to Become a Top Pharmaceutical Company - 2013 Results and 2014 Outlook- Forward Looking Statements Forward-Looking This presentation may include forward-looking statements pertaining to the business and p
Slide 3: Mid-term Business Plan ACCEL 15
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Aiming to Become a Top Pharmaceutical Company - 2013 Results and 2014 Outlook- Mid term Business Plan “ACCEL Mid-term ACCEL 15” 15 <Strategic Policies> 1. Increase of marketing productivity 2. Acceleration of Gl
Slide 4: Progress of ACCEL 15 (1)
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Aiming to Become a Top Pharmaceutical Company - 2013 Results and 2014 Outlook- Progress of ACCEL 15 (1) Launched L h d 3 new products: d PERJETA, BONVIVA, ACTEMRA SC Achieved 3 major line extensions: AVASTIN
Slide 5: Progress of ACCEL 15 (2)
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Aiming to Become a Top Pharmaceutical Company - 2013 Results and 2014 Outlook- Progress of ACCEL 15 (2) strategy achievements Increase of Consulting promotion, e-promotion marketing Enhanced implementation o
Slide 6: 2013 Results
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Aiming to Become a Top Pharmaceutical Company - 2013 Results and 2014 Outlook- 2013 Results Both top- and bottom- line growth delivered Stronggggrowth in revenues more than offset FX impacts on cost of sales/ope
Slide 7: 2014 Outlook
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Aiming to Become a Top Pharmaceutical Company - 2013 Results and 2014 Outlook- 2014 Outlook Top-line p growth driven by g y mainstay ypproducts and royalties y Negative bottom-line growth affected by increased c
Slide 8: Sales Excluding Tamiflu
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Aiming to Become a Top Pharmaceutical Company - 2013 Results and 2014 Outlook- Sales Excluding Tamiflu Entering into new growth phase supported by Billion JPY new products and line extensions 418.2 390.2 324.9 3
Slide 9: Focus for 2014
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Aiming to Become a Top Pharmaceutical Company - 2013 Results and 2014 Outlook- Focus for 2014 Top Pharmaceutical Company ACCEL 15 Targets Strong Sales Growth • Position Perjeta and Bonviva on a solid growth trac
Slide 10: 2014 Goals: Oncology
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Aiming to Become a Top Pharmaceutical Company - 2013 Results and 2014 Outlook- 2014 Goals: Oncology Contribute to cancer care as a leading company in Oncology Advance consulting promotion activity based on a hig
Slide 11: 2014 Goals: Bone and Joint
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Aiming to Become a Top Pharmaceutical Company - 2013 Results and 2014 Outlook- 2014 Goals: Bone and Joint Aim for a double digit growth with newly launched Bonviva and f t fast-growing i mainstay i t products d
Slide 12: ACTEMRA – a Birth of Blockbuster
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Aiming to Become a Top Pharmaceutical Company - 2013 Results and 2014 Outlook- ACTEMRA – a Birth of “Blockbuster” Blockbuster Global Sales >1 billion CHF ＜future growth driver＞ SC launch SC launch in EU SC Billi
Slide 13: 2014 Goals: Renal and Others
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Aiming to Become a Top Pharmaceutical Company - 2013 Results and 2014 Outlook- 2014 Goals: Renal and Others Putting top priority on Mircera, maintain market presence of other products A Accelerate l t d developm
Slide 14: For the Generation of Innovative Drugs
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Aiming to Become a Top Pharmaceutical Company - 2013 Results and 2014 Outlook- For the Generation of Innovative Drugs Continuous creation of innovative drugs utilizing ili i unique i technologies h l i ffor both
Slide 15: FY2013 Consolidated Financial Overview
FY2013 Consolidated C lid t d Financial Fi i l Overview O i (IFRS based) CHUGAI PHARMACEUTICAL CO., LTD. E Executive ti Vice Vi P President id t CFO Yoshio Itaya January 30/31, 2014
Slide 16: Summary
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ FY2013 Consolidated Financial Overview Summary Revenues: 423.7 billion JPY (+9.6% YoY) • Domestic sales excl excl. TAM (+2.6%) (+2 6%) : continued strong growth in oncology and new products outweighed the impa
Slide 17: IFRS and Core Results Jan – Dec
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ FY2013 Consolidated Financial Overview IFRS and Core Results Jan – Dec Non-Core items IFRS results Non-core items Core results 1. Intangible/Business (Billion JPY) 2013 IIntangible t ibl assets t 2013 combinatio
Slide 18: Financial Overview Jan – Dec
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ FY2013 Consolidated Financial Overview Year on Year (Core) Financial Overview Jan – Dec 2012 2013 (Billion JPY) ((Billion JPY)) Jan - Dec Jan - Dec Growth vs. Rev*. vs. Rev*. Royalties and other operating Revenu
Slide 19: Sales (excl. Tamiflu) Jan – Dec
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ FY2013 Consolidated Financial Overview Year on Year Sales (excl (excl. Tamiflu) Jan – Dec Sales excl. excl Tamiflu (Billion JPY) 390.2 (+27.0, +7.4%) Overseas O -4.0 Epogin Actemra +17.6 363.2 +18.8, +44.4% (10.
Slide 20: Tamiflu Sales Performance
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ FY2013 Consolidated Financial Overview Tamiflu Sales Performance Fiscal Term Sales Forecast ((Billion JPY)) FY2009.12 FY2010.12 FY2011.12 FY2012.12 FY2013.12 FY2014.12 Cases per Seasonal sentinel* Jan-Jun Jul-De
Slide 21: Operating Profit Jan – Dec
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ FY2013 Consolidated Financial Overview Year on Year (Core) Operating Profit Jan – Dec 2012 2013 (Billion JPY) Growth (Billion JPY) Jan - Dec Jan - Dec Revenues 386.6 423.7 +37.1 Royalties and other M&D Cost of s
Slide 22: Financial Overview Oct - Dec
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ FY2013 Consolidated Financial Overview Year on Year (Core) Financial Overview Oct - Dec 2012 2013 (Billion JPY) (Billion JPY) Oct - Dec Oct - Dec Growth vs. Rev*. vs. Rev*. Royalties and other operating Revenues
Slide 23: Financial Overview Jan – Dec vs. Forecast
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ FY2013 Consolidated Financial Overview vs. Forecast (Core) Financial Overview Jan – Dec Actual Forecast on Jan 30 (Billion JPY) 2013 2013 Achiev. Jan - Dec Jan - Dec +/- Revenues 423.7 416.0 +7.7 101.9% Sales 40
Slide 24: Domestic Sales (excl. Tamiflu) Jan – Dec
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ FY2013 Consolidated Financial Overview vs. Forecast (Core) Domestic Sales (excl (excl. Tamiflu) Jan – Dec Domestic Sales excl. Tamiflu (Billion JPY) 329.2 (-0.1, 100.0%) 329.3 Others Mircera Edirol 27.7 27 7 +0
Slide 25: Impact from Foreign Exchange
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ FY2013 Consolidated Financial Overview vs. Forecast (Core) Impact from Foreign Exchange FX rate to the JPY 1CHF 1EUR Assumption Jan – Dec 95.00 115.00 (as of Jan. 30) Actual Jan –Dec avg. 105.24 129.51 FX impact
Slide 26: Balance Sheet Items
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ FY2013 Consolidated Financial Overview vs. 2012 Year End Balance Sheet Items 2012 2013 (Billion JPY) Change (Billion JPY) Dec Dec Trade accounts receivable 115.7 111.1 - 4.6 Inventories 108.4 128.5 + 20.1 Net wo
Slide 27: Net Cash
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ FY2013 Consolidated Financial Overview vs. 2012 Year End Net Cash Total increase in net working (Billion JPY) capital (Billion JPY) -19.7 Total investment Operating cash flow after adjustments +97.3 -14.7 Others
Slide 28: Free Cash Flow Jan - Dec
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ FY2013 Consolidated Financial Overview Year on Year Free Cash Flow Jan - Dec (Billion JPY) 2012 2013 ((Billion JPY)) Jan Dec Jan Jan-Dec Jan-Dec Dec Change Operating p gpprofit,, net of operating p g cash adjust
Slide 29: 2014 Forecast Jan - Dec
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ FY2013 Consolidated Financial Overview 2014 Forecast (Core) 2014 Forecast Jan - Dec Actual Forecast Growth (Billion JPY) 2013 Jan-Dec 2014 Jan-Dec vs. Rev*. vs. Rev*. (%) Revenues 423.7 451.0 +27.3 +6.4% S l Sal
Slide 30: Sales (excl. Tamiflu) vs. 2013 Actual
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ FY2013 Consolidated Financial Overview 2014 Forecast (Core) Sales (excl. (excl Tamiflu) vs vs. 2013 Actual Sales (excl. Tamiflu) Oncology ((Billion JPY)) 418 2 （+28.0, 418.2 （+28 0 +7 +7.2%） 2%） A Avastin ti +5.
Slide 31: Dividend Policy
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ FY2013 Consolidated Financial Overview Dividend Policy Policy Aiming to ensure stable profit for all shareholders and a consolidated dividend payout ratio of 50% on average to Core EPS, taking account of strate
Slide 32: Reference: Allocation method of Purchase price variance
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ FY2013 Consolidated Financial Overview Reference: Allocation method of Purchase price variance Manufacturing Standalone Sales Standalone Consolidated Case 1 Purchase price Allocation of Purchase price Allocation
Slide 33: Overview of Development Pipeline
Aiming to become “Top Pharmaceutical Company” O Overview i off Development D l t Pipeline Pi li CHUGAI PHARMACEUTICAL CO., LTD. Senior Vice President Head of Project & Lifecycle Management Unit Yutaka Tanaka January 30/31, 2014
Slide 34: Oncology Field Projects under Development
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Overview of Development Pipeline Oncology Field Projects under Development (as of 30 January, 2014) Phase I Phase II Phase III Filed CIF / RG7167 GC33 / RG7686 RG1273 / Perjeta AF802 (RG7853) / alectinib (Japan
Slide 35: Primary Field Projects under Development
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Overview of Development Pipeline Primary Field Projects under Development (as of 30 January, 2014) Phase I Phase II Phase III Filed Bone RG484 / Bonviva (oral) - osteoporosis & NRD101 / Suvenyl Joint - enthesopa
Slide 36: Development Status - Oncology Field
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Overview of Development Pipeline D Development l t St Status t - Oncology O l Field Fi ld In- In RG435 / Avastin® : licensed Indication: Ovarian Cancer Approved in November 2013 In- RG7446 / MPDL3280A (Engineere
Slide 37: Development Status - Primary Field
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Overview of Development Pipeline D Development l t St Status t - Primary Pi Fi Field ld In- In MRA / Actemra® : house Subcutaneous Injection Formulation Expected Indication: Rheumatoid Arthritis Filed in No Nove
Slide 38: Development Status - Primary Field
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Overview of Development Pipeline D Development l t St Status t - Primary Pi Fi Field ld In- In ACE910 (anti-factor IX × anti-factor X humanized house bispecific antibody) : Expected Indication: Hemophilia A D i
Slide 39: Projected Submissions
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Overview of Development Pipeline P j t dS Projected Submissions b i i (Post PoC NMEs and products) Seamless filings every year NME line extension in-house in-licensed AVASTIN ((RG435)) Breast Cancer Adj. onart
Slide 40: SA237 - NMO, a Promising Target Disease
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Overview of Development Pipeline SA237 - NMO, NMO a Promising P i i Target T t Disease Di Neuromyelitis optica (NMO) Severe demyelinating inflammatory autoimmune disease of CNS Orphan disease with high unm
Slide 41: Update on the Development Requests for Unapproved Drugs/Indications
ACCEL 15 Aiming to become “Top Pharmaceutical Company” ~Innovation all for the patients~ Overview of Development Pipeline Update on the Development Requests for Unapproved Drugs/Indications Review Committee of Development Request for Unapproved Drugs/Indication T Ten indications i di ti (i (incl
Slide 42: Contacts: Corporate Communications Dept.
Contacts: Corporate Communications Dept. Media Relations Group Tel: +81 (0)3-3273-0881 Fax: +81 (0)3-3281-6607 e-mail: pr@chugai-pharm.co.jp K ki Harada, Kouki H d Koichi K i hi K Kawahara, h Hi hi A Hiroshi Araki, ki Sachiyo S hi Yoshimura Y hi Investor Relations Group p Tel: +81 (0)3-3273-0554 Fax