Innoviva, Inc. · NASDAQ:INVA
Innoviva — Investor Presentation (September 2022)
21 slides from Innoviva's investor presentation, Sep 14, 2022
Slide 1: Corporate Presentation September 2022
CorporatePresentation September 2022
Slide 2: Forward-looking statements
Forward-looking statements The information in this presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (“Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward-looking statements invo
Slide 3: Innoviva overview: company highlights
Innoviva overview Company highlights Diversified biopharmaceutical company with a portfolio of royalties and a growing portfolio of innovative healthcare assetsRoyalty portfolio consists of respiratory products that were jointly developed with, and are licensed to, GSK and collectively make up a lar
Slide 4: Royalty cashflows and operating platform with long-term capital deployment strategy
Innoviva combines sustainable royalty cashflows and valuable operating platform with a long-term capital deployment strategy to maximize shareholder value Robust, valuable royalty portfolio Thoughtful, accretive capital deployment Long-term shareholder value creation + = Significant royalties from a
Slide 5: Valuable royalty portfolio of respiratory therapies commercialized by GSK
Innoviva has a valuable royalty portfolio comprised of robust, durable revenues stemming from widely used respiratory therapies commercialized by GSK 2021 Global net sales ($M) Key royalty terms 2021 Innoviva royalties ($M) Totals 15% on first $3B in annual sales; 5% on sales over $3B Tiered 6.5-10.
Slide 6: Royalty product portfolio resilience and growth
Our royalty product portfolio has demonstrated resilience and growth, contributing to our excitement about its long-term potential Sizeable and differentiated Resilient anddurable Diversifiedand established Differentiated respiratory portfolio with over $2B 2021 sales (for Breo and Anoro)Consensus p
Slide 7: Active capital deployment to maximize shareholder value
Innoviva has actively deployed its capital to maximize shareholder value Since the beginning of 2021 we strategically repurchased GSK’s equity stake for ~$400M, monetized our share of Trelegy royalties for over $275M, and deployed approximately $400M into acquiring high-potential assets Continued ac
Slide 8: Thoughtful and disciplined approach to strategic acquisitions
We approach strategic acquisitions in a thoughtful and disciplined manner We target fundamentally attractive, yet often overlooked or contrarian, healthcare areas where our capital and capabilities can make a difference We look for differentiated assets with meaningful value creation potential We st
Slide 9: Non-royalty healthcare asset portfolio for growth and resilience
Our non-royalty healthcare asset portfolio provides for both growth and resilience 9 Robust, differentiated infectious disease / hospital business Minority investments in high growth areas ISP Fund providing further exposure to healthcare Entasis / La Jolla combination creates an integrated therapeu
Slide 10: Hospital / infectious disease business: a case study
Differentiated hospital / infectious disease business: a case study Infectious disease therapeutics have focused primarily on common bacteria diseases; however, there is a clear need for improved therapeutics for bacterial, viral and fungal diseasesThis area has recently fallen out of favor due to i
Slide 11: Entasis / La Jolla combination and operating platform
Entasis / La Jolla combination transforms Innoviva by giving us a robust, organically growing platform with significant operating leverage and clear path to profitability 11 Fully integrated, complementary hospital / ID operating platform World-class infectious disease R&D engine anchored by SUL-DUR
Slide 12: Management team and board of directors
Relevant experience Management Team Pavel Raifeld,Chief Executive Officer Experienced finance and life sciences professional; formerly with Sarissa Capital, Credit Suisse, McKinsey and BCG Marianne Zhen, CPA,Chief Accounting Officer Experienced finance professional with over 20 years in accounting a
Slide 13: Strong financial growth and advancement of core strategy
The past 18 months have seen strong financial growth and advancement of our core strategy $406M revenues$375M income from operations$364M net cash provided by operating activities 13 Value creation Strategically repurchased GSK’s 32% equity stake for $392M (at $12.25 per share)Invested ~$65M into in
Slide 14: Why Innoviva
Why Innoviva 5 Strong track record of growth and value creation focus 4 Deep and proven healthcare expertise across governance, strategy, medicine / science, R&D, finance, and operations 3 Thoughtful, robust, long-term approach to capital deployment 2 High-potential, robust operating platform in hos
Slide 15: Appendix
Appendix 15
Slide 16: Relvar / Breo detail
Relvar / Breo detail: First once-daily inhaled corticosteroid / long-acting beta-agonist for asthma and chronic obstructive pulmonary disease RELVAR® / BREO®ELLIPTA® Launched in 2013 as first and only once-daily ICS / LABA in the U.S.Relvar / Breo delivers superior, lasting proactive asthma control,
Slide 17: Anoro detail
Anoro detail: Best-in-class long-acting beta-agonist / long-acting muscarinic antagonist for COPD ANORO®ELLIPTA® (umeclidinium 62.5 mcg and vilanterol 25 mcg inhalation powder) Indications (US)Long-term, once-daily, maintenance treatment of airflow obstruction and reducing exacerbations in patients
Slide 18: Net global sales and royalty revenues from respiratory portfolio
GSK Net Global Sales1 ($B) Meaningful net global sales and royalty revenues from respiratory portfolio Innoviva Royalty Revenue2 ($M) Note: May not sum due to rounding1 – Reflects sales from Breo / Relvar, Anoro2 – Excludes the impacts of amortization of capitalized fees and the MABA strategic allia
Slide 19: Robust IP estate with meaningful remaining exclusivity
Innoviva’s portfolio products are protected by a robust IP estate with meaningful remaining exclusivity Manufacturing complexity provides further protection Primary US patent ANORO®ELLIPTA® RELVAR®/ BREO®ELLIPTA® Potential expiration Key secondary US patent Potential expiration Vilanterol drug subst
Slide 20: Additional minority portfolio investments
Additional minority portfolio investments InCarda focuses on cardiovascular diseases; its lead drug is in late-stage development for large, attractive PAF1 market ImaginAb is a leader in radio-pharmaceutical imaging with a differentiated solution for IO2 patient care and other areas of unmet medical
Slide 21: Lean, focused platform leveraging superior capabilities
Innoviva’s platform optimizes for lean, focused value creation leveraging superior capabilities Low-cost, efficient operating platform Best-in-class internal capabilities Superior external resources access Our key operations principles are cost discipline, flexibility, and value orientation, while e