Slide 1: A New Champion for Global Health
+ A New Champion for Global Health September 2019
Slide 2: Safe Harbor Provision
Safe Harbor Provision + This communication contains “forward-looking statements”. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements may include, without limitation, statements about the proposed c
Slide 3: Safe Harbor Provision - Additional Information
Safe Harbor Provision + ADDITIONAL INFORMATION This communication shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sa
Slide 4: Mylan Undertook an Extensive Strategic Review to Create and Unlock Value
Mylan Undertook an Extensive + Strategic Review to Create and Unlock Value As part of the year-long review, we considered multiple, diverse ways to create and unlock shareholder value 1 â–ª Enhance global scale, including building a meaningful presence in China, to further serve the world’s populati
Slide 5: Combination With Upjohn Expected to Achieve All of These Goals and More
Combination With Upjohn Expected to Achieve All of These Goals and More 1 Even More Balanced Geographic Exposure Strategic Further Differentiated Product Portfolio Enhanced Scale in China + (Standalone) (New Company) 2020E Pro Forma Revenue 2020E Pro Forma Revenue Other Emerging Other Emerging Marke
Slide 6: Combination With Upjohn Expected to Achieve All of These Goals and More
Combination With Upjohn Expected to Achieve All of These Goals and More + (Standalone) (New Company) 2 Existing standalone opportunities Cost Significant portfolio + expected incremental $1bn Rationalization rationalization opportunities annual cost synergies by 2023 Adjusted EBITDA ~30%(1) ~40%(2)
Slide 7: The Proposed Transaction Will Also Include the Following Important Structural Changes
The Proposed Transaction Will Also Include the Following Important Structural Changes + (Standalone) (New Company) Netherlands Delaware Domicile Stakeholder-centric model Shareholder-centric model Structural Best-in-class commercial excellence with deeper bench Strong and cohesive current Management
Slide 8: Expected Upjohn Global Revenue (2019-2020)
Expected Upjohn Global Revenue + (2019-2020) ($B) ~$10 ~($1.6) ~($0.7-$1.1) ~$0.1 ~$7.5-$8 2019 US Lyrica LOE China VBP/Others EM Growth 2020 Source: Pfizer and Mylan Management. Note: VBP = Volume-based Procurement; EM = Emerging Markets. 7
Slide 9: NewCo's Anticipated Business Model
NewCo’s Anticipated Business Model + Transformed Years Transaction Close 0 1 2 3 4 5 6 7+ Integration Operations Execution Product Business Launches ~$3B Execution Cost Synergies Synergies Revenue Synergies New Pipeline Launches Rapid Leverage Deleveraging Share Capital Repurchases Capital Return Di
Slide 10: NewCo Differentiated from Landscape
NewCo Differentiated from Landscape + NewCo Selected Spec Pharma / Generics $19—$20bn $17 2020E $12 $9 Worldwide $5 8 $5 Sales ($bn) $2 $2 NewCo1 Market Cap ~$24bn3 $7.6 $10.1 NA $15.7 $6.4 $6.1 $0.8 ($bn)2 2018 US ~25%4 49%5 34% 28% 34% 65% 62% NA Exposure 2020E EBITDA ~40%7 28% 30% NA 23% 19% 27%
Slide 11: A New Champion for Global Health
A New Champion for Global Health