Ironwood Pharmaceuticals, Inc. · NASDAQ:IRWD
Ironwood Pharmaceuticals — SVB Leerink Global Healthcare Conference 2021
24 slides from Ironwood Pharmaceuticals's conference presentation, Feb 26, 2021
Slide 1: SVB Leerink Global Healthcare Conference
SVB Leerink Global Healthcare Conference February 26, 2021
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements. Investors are cautioned not to place undue reliance on these forward-looking statements, including statements about our ability to execute on our vision and mission; the Company’s strategy, business, financial position and
Slide 3: Ironwood: Leading in GI through Growth and Innovation
Ironwood: Leading in GI through Growth and Innovation
Slide 4: To Become the Leading U.S. Gastrointestinal Healthcare Company
OUR VISION To Become the Leading U.S. Gastrointestinal Healthcare Company OUR MISSION To advance the treatment of GI diseases and redefine the standard of care for GI patients 4
Slide 5: Our Path Forward: Advancing Innovative Treatments for GI Diseases
We Aim to: Our Path Forward: Maximize LINZESS® Advancing Innovative Treatments for GI 1 (linaclotide) ▪ Drive LINZESS growth in demand and net sales ▪ Enhance linaclotide clinical utility through robust Diseases lifecycle management opportunities We have a refreshed focus in areas of high unmet need
Slide 6: Maximize LINZESS
Maximize LINZESS
Slide 7: LINZESS is the Prescription Market Leader in IBS-C / CIC Category
LINZESS is the Prescription Market Leader in IBS-C / CIC Category Sustained growth since launch in 2012 Prescribed in Rx Demand #1 Branded Treatment for IBS-C & CIC #1 IBS-C / CIC Market Share ~40% IQVIA NPA Nov 2020 IQVIA RAPID Weekly Market without PEG, Dec 2020 in Branded HCP / Patient #1 Payer A
Slide 8: LINZESS Maintained Strong Demand Growth and ~40% IBS-C / CIC Market Share in 2020
LINZESS Maintained Strong Demand Growth and ~40% IBS-C / CIC Market Share in 20201 LINZESS Y/Y Total Rx Demand1 2020 IBS-C/CIC Market Share1 3,300,000 LINZESS ALL-TIME HIGH (41%) 45 3,100,000 40 2,900,000 35 LACTULOSE (33%) Market Share % 2,700,000 30 2,500,000 25 20 2,300,000 15 OTHER (10%) 2,100,0
Slide 9: Strong LINZESS New-to-brand Volume and 90-Day Prescriptions Are Key Indicators
Strong LINZESS New-to-brand Volume and 90-Day Prescriptions Are Key Indicators of Future Growth Potential LINZESS NBRx Volume Growth2 LINZESS 90-Day Prescription Growth3 43.0 300,000 42.5 42.0 Average TRx Fill Size 250,000 41.5 41.0 200,000 40.5 Avg % of TRx that is 90 ct4 40.0 150,000 17% 19% 39.5
Slide 10: LINZESS Success is Generating Substantial Revenue for Ironwood
LINZESS Success is Generating Substantial Revenue for Ironwood 2020 Total Ironwood Revenue was $390 Million, Exceeding 2020 Guidance of High End of $370-385 Million In 2021, we expect: LINZESS brand profitability (incl. R&D) 50/50 $1000 $931 ~$931 profit share LINZESS U.S. net sales High-single digi
Slide 11: On Track to Exceed $1 Billion in LINZESS Net Sales
On Track to Exceed $1 Billion in LINZESS Net Sales Currently evaluating multiple opportunities to drive further growth Enhancing HCP / Communicating Strengthening Broadening Payer Patient Experience Overall Abdominal Clinical Utility via Access Symptom Data LCM We seek to: We seek to: We seek to: ✓
Slide 12: Build an Innovative Pipeline
Build an Innovative Pipeline
Slide 13: Advancing IW-3300, a GC-C Agonist, into Phase I Development
Advancing IW-3300, a GC-C Agonist, into Phase I Development for Potential Treatment of Visceral Pain Conditions Opportunity to test the “cross-talk” hypothesis in humans for the first time • Strong pre-clinical data: Stable peptide expected to provide flexibility in formulation – IW-3300 reversed en
Slide 14: There Remains High Unmet Need within GI
There Remains High Unmet Need within GI, as GI diseases Affect Approximately 1 in every 5 Americans1 60 to 70 million Americans are affected by GI diseases1 GI diseases are responsible for millions of office visits, ED visits, and hospitalizations each year2 GI cost to the U.S. healthcare system ~$1
Slide 15: Prioritizing Serious, Organic GI Diseases
Prioritizing Serious, Organic GI Diseases We Have Identified >100 GI Assets in >25 Prioritized Disease Areas, Including: Abdominal Liver Injury / Celiac Disease Pruritus Pain Failure Mucositis / Gut Rare GI Esophageal / Pancreatitis Inflammation Diseases Allergic Note: Organic GI diseases have measu
Slide 16: Corporate Development Strategy Guided by Clear Principles
Corporate Development Strategy Guided by Clear Principles Focused on Delivering Patient Benefit and Shareholder Value In assessing any new potential asset, we seek to: 1 Prioritize diseases that are primarily managed by 2 Focus on organic GI diseases, where mechanisms are well 3 Target innovation, v
Slide 17: Deliver Sustained Profits and Generate Cash Flow
Deliver Sustained Profits and Generate Cash Flow
Slide 18: Continued Strong Financial Performance in 2020
Continued Strong Financial Performance in 2020 2020 represents Ironwood’s 2nd full year of profitability $390M $931M Total Ironwood Revenues U.S. LINZESS Net Sales1 10% Y/Y growth Primarily driven by $369M in U.S. LINZESS collaboration Primarily driven by 9% Y/Y prescription demand revenue growth co
Slide 19: 2021 Financial Guidance
2021 Financial Guidance Ironwood expects: FY 2021 Guidance LINZESS U.S. net sales 3 to 5% growth Total Ironwood revenue $370 - $385 million Adjusted EBITDA1 >$190 million 1) Adjusted EBITDA is calculated by subtracting net interest expense, income taxes, depreciation, amortization, mark-to-market ad
Slide 20: We are Focused on Delivering Shareholder Value
We are Focused on Delivering Shareholder Value Seeking to Allocate Capital to Highest Return Opportunities Total Shareholder Maximize LINZESS Return Consider Return of Capital Seek to drive net sales growth via Explore deploying excess free cash commercial innovation and towards opportunistic share
Slide 21: Appendix
Appendix 21
Slide 22: 4Q and Full Year 2020 Financial Summary
4Q and Full Year 2020 Financial Summary Reconciliation of GAAP results to non-GAAP financial measures1 Three Months Ended Twelve Months Ended December 31, 2020 December 31, 2020 (000s, except per share (000s, except per share amounts) amounts) GAAP net income $ 43,204 $ 106,176 Adjustments: Mark-to-
Slide 23: 4Q and Full Year 2020 Financial Summary
4Q and Full Year 2020 Financial Summary Reconciliation of GAAP income from continuing operations to adjusted EBITDA Three Months Ended Twelve Months Ended December 31, 2020 December 31, 2020 (000s) (000s) GAAP income from continuing operations 1 $ 43,204 $ 106,176 Adjustments: Mark-to-market adjustm
Slide 24: 4Q and Full Year 2020 Financial Summary
4Q and Full Year 2020 Financial Summary LINZESS U.S. Brand Collaboration Commercial Profit & Collaboration Revenue1 Ironwood & AbbVie Total Net Profit Three Months Ended Twelve Months Ended Three Months Twelve Months Ended December 31, 2020 December 31, 2020 Ended December 31, 2020 December 31, 2020
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