Quidelortho Corporation · NASDAQ:QDEL
Quidelortho — Quidel — Barclays Global Healthcare Conference 2015
17 slides from Quidelortho's conference presentation, Mar 12, 2015
Slide 1: Investor Presentation
Investor Presentation Doug Bryant, President & CEO
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation contains forward-looking statements within the meaning of the federal securities laws that involve material risks, assumptions and uncertainties. Many possible events or factors could affect our future financial results and performance, such that our actu
Slide 3: Company history (1979 – 2009)
Company history (1979 – 2009) 1979 1985 Quidel 1999 FDA-cleared test for Strep A Flu A/B product founded receives FDA clearance 1970 1980 1990 2000 2009 First company to receive CLIA waiver for Strep A, Helicobacter pylori, 1984 First commercial and Influenza A+B product introduced: 1989 pregnancy A
Slide 4: Recent History of Innovation (2009 – present)
Recent History of Innovation (2009 – present) 2014 2011 2013 FDA clearance FDA clearance for FDA clearance for for Lyra Adenovirus Sofia Analyzer and Lyra C. difficile and Lyra Parainfluenza Influenza A+B FIA and Lyra 2013 123 PCR assays RSV+hMPV 3 FDA PCR assays clearances 2014 2014 for Sofia 2010
Slide 5: Our strategic intent
Our strategic intent Build a broader-based diagnostic company that delivers revenue and margin more consistently. Develop technologies and products that give us access to market segments that are significantly larger. Solidify price and volume in core business while expanding into molecular. C
Slide 6: Quidel molecular platforms address different segments -- uniquely
Quidel molecular platforms address different segments -- uniquely Next Gen. Immunoassay Quidel Molecular Quidel Molecular Quidel Molecular Quidel Molecular SOFIA AMPLIVUE SOLANA LYRA REAL-TIME PCR SAVANNA FDA CLEARED SYSTEM & ASSAYS FDA CLEARED ASSAYS FDA CLEARED ASSAYS Objective read eliminates Dis
Slide 7: Sofia is a compelling next-generation rapid immunoassay system
From a customer perspective, Sofia is a compelling next- generation rapid immunoassay system Improved performance relative to traditional rapid point of care devices Objectively read result, with many fail-safe and data management features Cellular wireless capability Currently marketed Sofi
Slide 8: AmpliVue fits the market and fits Quidel’s competencies
AmpliVue fits the market and fits Quidel’s competencies Performance rivals that of high cost systems in terms of speed and accuracy, in a disposable format. Minimal start up cost allows deep reach into the 25-200 bed hospital market in an economical way without sacrificing performance. FDA cle
Slide 9: Quidel’s Lyra Real-time PCR assays offer several advantages
Quidel’s Lyra® Real-time PCR assays offer several advantages to the higher throughput labs Lyra features and benefits… ● Simplified workflow as compared to LDT and other on-market assays. ● Direct assays that allow for the elimination of the extraction step for certain analytes. Decreases assay TAT
Slide 10: Solana's low COGS solves molecular adoption barriers
The lower end of the IVD market’s move to molecular methods has been greatly hampered by the lack of access to capital and the cost of molecular reagents. Solana’s low COGS solves this. New Solana Strep A + C/G Assay The typical U.S. Solana customer Would move to a molecular method for targets tha
Slide 11: Lower end of U.S. hospital lab market is under-penetrated by MDx platforms
The lower end of the U.S. hospital lab market is significantly under-penetrated by fully integrated MDx platforms 790 4110 U.S. Hospitals < 400 Beds The typical U.S. Savanna customer Is one of 4110 hospitals < 400 beds without a sample-to-answer MDx platform Concern with cost has delayed move to
Slide 12: Savanna and Solana initial menu designed for profitable reagent agreement plan
Savanna and Solana initial menu is designed to deliver the test volume needed for a profitable reagent agreement plan Desired Assay Requirements Solana Savanna (Assays and systems are currently in development) HDA PCR HDA Sample extraction X X Quantitation X Fast Time-to-Results X X Random Access X
Slide 13: We are on a path to our longer term financial objectives
We are on a path to our longer term financial objectives 1. Achieve incremental revenue growth of at least $100 million through new product introductions. 2. Invest in the development and commercialization of new products driving gross margins to exceed 65%. 3. Leverage operational efficiency drivin
Slide 14: Quidel financial overview
Quidel financial overview Revenue Adjusted EBITDA (1) (in $ million, percent gross margin in white) (adjusted, in $ million) $200.0 $182.6 120% $175.4 $45.0 $40.9 $40.6 $180.0 $38.9 $158.6 $155.7 100% $40.0 $160.0 $35.0 $140.0 80% $30.0 $27.9 $120.0 $113.3 $25.0 $100.0 60% $80.0 61% 62% 59% $20.0 54
Slide 15: 2015 expected operating cost structure
2015 expected operating cost structure Annual Investment: R&D Annual Investment: S&M (in $ million; percentage of sales in white) (in $ million; percentage of sales in white) $45.0 Range 65% $50.0 Range 65% $40-$42 $45-$47 $40.0 $45.0 $37.9 55% $41.5 55% $35.0 $34.2 $40.0 45% 45% $35.0 $33.8 $30.0 $
Slide 16: Quidel’s milestones for 2014
Quidel’s milestones for 2014 • 10,000 instrument placements generating revenue* Sofia • Receive CLIA waiver for Strep A and hCG assays • Quantitative assay development: hCG, Vitamin D • Commercialization of C. difficile, GBS, HSV1+2 and GAS products AmpliVue • FDA submission of Bordetella and Tricho
Slide 17: Growth drivers and milestones for 2015
Growth drivers and milestones for 2015 Sofia Expand Sofia installed base through commercialization of CLIA-waived Sofia Strep A Receive CLIA waiver for Sofia hCG Continue Sofia conversions from visually-read lateral flow products Submit 510(k) package to the FDA for Quantitative Vitamin D Am