Roche Holding Ltd · SIX:RO
Roche — Berenberg European Conference 2024
24 slides from Roche's conference presentation, Dec 5, 2024
Slide 1: Roche
Slide 2: Forward-looking statements disclaimer
This presentation contains certain forward-looking statements. These forward-looking statements may be identified by words such as ‘believes’, ‘expects’, ‘anticipates’, ‘projects’, ‘intends’, ‘should’, ‘seeks’, ‘estimates’, ‘future’ or similar expressions or by discussion of, among other things, str
Slide 3: Opening remarks – Berenberg European Conference 2024
Opening remarks Bruno Eschli | Head IR Roche Berenberg European Conference 2024 5 December 2024
Slide 4: Group performance, Strategy & refocusing, Outlook
Group performance Strategy & refocusing Outlook
Slide 5: YTD Sep 2024: Strong growth in both divisions
YTD Sep 2024: Strong growth in both divisions Q3 without significant COVID-19 impact Pharma* Diagnostics* Quarterly sales evolution 2022-2024 Quarterly sales evolution 2022-2024 % CER % CER 30% 30% +24% 20% 20% +12% +9% +10% +10% +9% +9% +7% +7% +7% +7% +8% +8% +7% +8% +8% +9% +7% 10% +6% +4% 10% +4
Slide 6: Key growth drivers of the Roche portfolio
Key growth drivers of the Roche portfolio Significant milestones achieved in Q3 to enable future growth +5% YTD Sep 2024 sales Diagnostics: +8% base business growth (CHFbn, YoY CER growth) (+8%)* Significant launches upcoming Itovebi: US approval in 1L PIK3CA-mut HR+ BC 10.7 Tecentriq Hybreza: US ap
Slide 7: Young portfolio to drive growth in the near- to mid-term
Young portfolio to drive growth in the near- to mid-term 2024 NME update: US approval for Itovebi (inavolisib) in HR+ breast cancer and PiaSky in PNH achieved CHFm % of Pharma Sales2 20.0 56% 18.0 50% 16.0 42% 14.0 12.0 34% 10.0 8.0 1 6.0 4.0 2.0 0.0 YTD Sep 2021 YTD Sep 2022 YTD Sep 2023 YTD Sep 20
Slide 8: A solid base to deliver future growth
A solid base to deliver future growth Pipeline and business development to add significant upside potential illustrative Business development • BD to accelerate pipeline portfolio • In-house pipeline with upside Pharma pipeline potential • On-market Pharma portfolio to deliver growth until 2028 Sale
Slide 9: Accelerated momentum driven by key launches
Accelerated momentum driven by key launches Diagnostics to deliver mid to high single digit growth in coming years Continuous glucose Next generation Mass spectrometry LumiraDx monitoring (CGM) sequencing (NGS) • 14 day real-time glucose sensor • First fully integrated and • Unique sequencing by exp
Slide 10: Positive Core Operating Profit momentum
Positive Core Operating Profit momentum Higher sales and effective cost management resulting in strong performance HY 2024 HY 2024 vs. HY 2023 CHFm abs. CER CER growth Sales 29,848 +1,515 5% Other revenue 908 +94 11% Cost of sales -7,300 -168 2% R&D -6,268 -21 0% SG&A -6,376 -96 2% OOI&E 481 -212 -3
Slide 11: 2024 guidance raised at HY
2024 guidance raised at HY Core EPS guidance raised from “broadly in line with sales” to “high single digit Core EPS growth” Group sales growth1 Mid single digit sales growth High single digit Core EPS growth Core EPS growth1 excl. impact from resolution of tax disputes in 2023 Dividend outlook Furt
Slide 12: Group performance, Strategy & refocusing, Outlook
Group performance Strategy & refocusing Outlook
Slide 13: R&D Excellence: Our solutions
R&D Excellence: Our solutions We identified six solutions to achieve top quartile performance - with implementation ongoing Adopt a unified portfolio Transform our portfolio Access the best external framework management & governance innovation Introduce the ‘Bar’ to recognize assets Reconfigure end-
Slide 14: Embracing bold objectives: Our 2030 R&D ambitions
Embracing bold objectives: Our 2030 R&D ambitions Toward top quartile industry performance Increase average peak year sales of Increase Ph 0 initiations/yr1: Increase Ph III success rate: pipeline assets: +50% +22%p +50% Success Volume Value rate Effectiveness R&D Excellence Costs Cycle time Efficie
Slide 15: Meaningful improvements achieved in 2024
Meaningful improvements achieved in 2024 R&D Excellence enables us to reallocate resources to new projects, new deals & accelerate priority assets Added 5 assets trough high-value CHF +0.24bn average peak year sales per Recent team-assessed PTS for partnerships and 8 assets from project trough termi
Slide 16: Pharma pipeline evolution since Pharma Day 2023
Pharma pipeline evolution since Pharma Day 2023 Since Pharma Day 2023 17 NMEs were added and 26 NMEs removed, resulting in a higher impact portfolio Pipeline changes since Q2’23 siRNA targeting AGT in hypertension 8 -8 17 Additions 81 4 -3 1 • 8 Ph I/Ph II NMEs acquired as -5 3 -4 2 part of high val
Slide 17: Pipeline acceleration through partnering and acquisitions
Pipeline acceleration through partnering and acquisitions Key deals completed to complement our pipeline across the Pharma focus therapeutic areas *pending deal closure; CVRM=cardiovascular, renal & metabolism; siRNA=small interfering RNA; AGT=angiotensinogen; TL1A=Tumor necrosis factor-like cytokin
Slide 18: 'Fast-track' of selected programs
‘Fast-track’ of selected programs Initial set of assets designated for acceleration based on exceptional potential Asset Acceleration Examples of potential acceleration levers: anti-TL1A Expediting enrollment with additional clinical trial Ph III Inflammatory Bowel Disease1 sites Trontinemab Ph III
Slide 19: Leveraging AI to increase overall Pharma productivity
Data & AI Leveraging AI to increase overall Pharma productivity Selected AI use cases along the value chain Regulatory & Manufacturing Drug development Commercialization reimbursement & distribution gRED’s ‘Lab-in-a-loop’ Document writing Digital twin Predictive alerts • AI/ML: Computational • Gen A
Slide 20: Group performance, Strategy & refocusing, Outlook
Group performance Strategy & refocusing Outlook
Slide 21: Peak sales potential of key pipeline assets (NMEs and LEs)
Peak sales potential of key pipeline assets (NMEs and LEs) New Molecular Entities (NME) giredestrant prasinezumab astegolimab HR+ BC Parkinson's disease COPD inavolisib fenebrutinib ASO Factor B • 7+ NMEs with CHF >3bn peak Pi3Km BC RMS, PPMS IgAN sales potential per asset divarasib Elevidys1 vamiki
Slide 22: Building blocks for future growth
Building blocks for future growth Pipeline and business development to add significant upside potential Business development Oncology/Hematology Emerging assets from early pipeline Neurology Immunology CT-388 / gamma-secretase Ophthalmology zilebesiran CT-996 / CT-868 NXT007 modulator CVRM vamikibar
Slide 23: 2025: Significant key newsflow ahead
2025: Significant key newsflow ahead* Compound Indication Milestone inavolisib + palbociclib + fulvestrant 1L PIK3CA-mut HR+ BC EU approval Columvi + GemOx 2L+ DLBCL US/EU approval Lunsumio SC 3L+ FL US/EU approval Elevidys DMD EU approval Regulatory Gazyva Lupus nephritis US/EU filing; US approval
Slide 24: Doing now what patients need next
Doing now what patients need next