RECIPHARM INVESTOR PRESENTATION SEPTEMBER 2016 · 2019-08-12 · This presentation has been...
Transcript of RECIPHARM INVESTOR PRESENTATION SEPTEMBER 2016 · 2019-08-12 · This presentation has been...
RECIPHARM INVESTOR PRESENTATION SEPTEMBER 2016
Important Information
2
This presentation has been prepared by, and the information contained herein (unless other-wise indicated) has been provided by, Recipharm AB (publ) (“Recipharm”) The presentation and its contents are confidential and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, by any medium or for any purpose.
This presentation does not constitute or form part of any offer or invitation to sell or issue, or any solicitation of any offer to purchase or subscribe for, or any offer to guarantee, underwrite or otherwise acquire any shares in Recipharm or any other securities nor shall the presentation or any part of it nor the fact of its distribution or communication form the basis of, or be relied on in connection with, any contract, commitment or investment decision in relation thereto.
This presentation contains ‘forward-looking’ statements. These forward-looking statements can be identified by the fact that they do not relate only to historical or current facts. In particular, forward-looking statements include all statements that express forecasts, expectations, plans, outlook and projections with respect to future matters, including trends in results of operations, margins, growth rates, overall market trends, the impact of interest or exchange rates, the availability or cost of financing, anticipated cost savings or synergies, the completion of strategic transactions and restructuring programmes, anticipated tax rates, expected cash payments, and general economic conditions. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause Recipharm’s future earnings and development to differ materially from those expressed or implied by these forward-looking statements, including factors that are outside Recipharm’s control. Any forward-looking statements made by or on behalf of Recipharm speak only as of the date they are made. Recipharm does not undertake to update forward-looking statements to reflect any changes in Recipharm’s expectations with regard thereto or any changes in events, conditions or circumstances on which any such statement is based.
The information included in this presentation may be subject to updating, completion, revision and amendment and such information may change materially. No person, including Recipharm and its advisors, is under any obligation to update or keep current the information contained in this presentation and any opinions expressed in relation thereto are subject to change without notice. Neither Recipharm nor any of their respective owners, affiliates, advisors or representatives (jointly the “Disclosers”) make any guarantee, representation or warranty, express or implied, as to the accuracy, completeness or fairness of the information and opinions contained in this presentation, and no reliance should be placed on such information. None of the Disclosers accept any responsibility or liability whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith.
By attending this presentation or by accepting any copy of this document, you agree to be bound by the foregoing limitations.
Company Snapshot
• A leading European CDMO serving pharma globally
‒ Strategic relationship with customers across the life cycle, from discovery to commercial manufacturing
‒ 400+ customers, 500+ products, 100+ markets
‒ Comprehensive network, 20+ facilities in Europe, North America and Asia
‒ 3500+ employees
• Attractive, unique value proposition
‒ Pharmaceutical expertise
‒ Manage complexity
‒ Full service offering
‒ Risk control
‒ Good value for money
• 20+ years of profitable growth
‒ SEK 4.7 bn pro forma1 net sales
o 27% CAGR2 since 2013
‒ SEK 730 m (~$90 m) pro forma1 EBITDA3
o 37% CAGR2 since 2013
‒ Exposure to high growth emerging markets
‒ Founded in 1995 by Lars Backsell (Chairman) and Thomas Eldered (CEO)
3
1/ Reported 2015 including pro forma 2015 for acquisitions completed in 2016 2/ As reported 3/ EBIT + depreciations + amortizations
Strategic Manufacturing Footprint
4
Becoming a Global CDMO
Manufacturing facilities
HQ
Development laboratories
Europe
• Wide service offering through manufacturing operations
• Leveraging strong and loyal customer base
• Operational excellence through efficiency, quality and delivery performance
US
• Establish Recipharm brand in the US
• Further presence with a manufacturing site
India
• Supplying products to domestic, European/US and other emerging markets
• Also strengthening Recipharm’s positioning to multinational Pharmaceutical Companies
Bangalore, India expected in Q4, 2016
20+ Years of Profitable Growth
5
Divestment of biologics business, closure of Basel and the sterile department in Ashton as well as transfer out of major OTC generic
1995-2007 Growth phase CDMO and product rights
2011-2013 Consolidation
phase
2013- Ideally positioned for further growth
Due to a combination of successful organic and acquisitive activities, Recipharm has historically displayed strong, double-digit growth
2007-2010 Growth phase CDMO
Divestment of own products division Recip
2,208
220 281 273 265 313 312 346 462 512 603 835 919 924
1,423
1,892 2,227 2,141 2,073 2,125
2,569
3,389
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
SEKm
H1
Strategic Framework
6
To be acknowledged as the best-in-class provider of contract
development and manufacturing solutions to the pharmaceutical industry by our customers, employees and other stakeholders
To offer expertise and facilities in the development, production and supply of pharmaceuticals to demanding customers for global use.
OUR OVERALL OBJECTIVES OUR FINANCIAL TARGETS
STRATEGIC PATHWAYS
OUR VALUE PROPOSITION • Pharmaceutical expertise • Manage complexity • Full service offering • Risk control • Good value for money
MANUFACTURING SERVICES • Sterile Liquids • Solids & Others
DEVELOPMENT & TECHNOLOGY
OUR CORE VALUES • Tenacity • Professionalism • Reliability • Entrepreneurship
Vis
ion a
nd m
issio
n
Str
ate
gic
ta
rgets
Str
ate
gic
focus
are
as
Foundation
Strategy Providing Recipharm with Multiple Drivers of Potential Growth
7
Growth Drivers Cost of Growth
Impact on Future Margins
Impact on Growth
Growth in existing base and investments in growth areas
Increasing market share Medium Medium
Low/ Medium
Growth from strategically important D&T division High Low/
Medium Low/
Medium
New product contracts stemming from:
1) Established Products
2) Products new to the market
Low High Low/
Medium
Selective acquisition of other CDMOs Medium/
High High High
Note1. Note2.
Estimated value of Alcon outsourcing agreement for 2016; Pro forma 2015 sales for Mitim Srl, Nitin Lifesciences Ltd and Kemwell’s operations in Sweden and the US According to compilation and analysis carried out by an international strategy consulting firm, on Recipharm's behalf, based on market reports from Frost & Sullivan, BCC and Business Insight (2013) Contract Dose Manufacturing Industry by the Numbers: Composition, Size, Market Share, Profitability and Outlook – 2015 Edition (PharmSource, September 2015) – based on 219 companies
Note3.
SEKm
6,000
5,000
4,000
3,000
2,000
1,000
0
2007 2013 1
2014 2015 2015 Illustrative combined
Recipharm has a strong track record of successful acquisitions…
Acquisitions Acquisitions
Pessac Facility
Acquisitions
• Estimated >1,000 CMOs and CDMOs globally
— 300+ in Europe and US2
• Mostly small players specialized towards a certain service and with limited geographic reach
…in the fragmented CDMO market
3% 3%
8%
14%
21%
51%
>$500m
$250-499m
$100-249m
$50-99m
$25-49m
<$25m
Distribution of CDMOs per revenue level3
Recipharm Well Positioned to Drive Sector Consolidation
8
9
2015 Reported
Mitim1 Nitin2 Cirrus & Kemwell3
Dagny4 2020 Target
2014 Reported
3.4bn
2.6bn
+13% +12%
+14% +8%
8.0bn
Note 1. Mitim Srl, pro forma 2015, IFRS adjusted Note 2. Nitin Lifesciences Ltd, pro forma January-December 2015, IFRS adjusted Note 3. Cirrus Pharmaceuticals Inc and Kemwell AB, pro forma January-December 2015, IFRS adjusted Note 4. Dagny Pharma Pvt Ltd, Completion contingent upon Indian FIPB approval, closing expected Q4 2016, preliminary estimated January-December 2015, local GAAP
On track. 42% increase in sales
Financial targets
At least SEK 8bn in sales by 2020
EBITDA margin of at least 16%
Net debt to equity ratio of less than 0.8
Status
19.4% Q2
17.0% YTD
14.8% LTM
0.4 end of Q2
Past Transactions Strongly Aligned with Recipharm’s Financial Targets
New Customers
• Gaining a greater coverage of the top 20 Big Pharma
• Gaining new small/mid-size customers in the US
New Markets
• US
‒ Expand our Development and
Manufacturing service offering
• Europe
‒ Track acquisition and carve-out
opportunities
• Emerging Markets
‒ Local Manufacturing is now often
required to reach some major
markets such as Brazil, Turkey,
Russia, Algeria…
10
New Technologies Historically, Recipharm has been acquiring new capabilities (technologies, capabilities, know-how) though acquisitions
• New Technologies:
‒ Pre-filled syringes
‒ High potent API
‒ Soft gel capsules, gums, …
• New capabilities:
‒ Multi-purpose API facility (vertical integration)
Future Transactions Aligned with Relevant Consolidation Themes
Company Highlights
11
CDMO Industry Growth Drivers Remain Highly Favourable
Leading CDMO with Resilient Business Model and Built-In Synergies
Long-standing Customer Relationships
Successful Acquisition and Integration Track Record
Demonstrable Results From Streamlining Operations
Highly Experienced and Proven Management Team
1.
2.
3.
4.
5.
6.
12
CDMO Industry Growth Drivers Remain Highly Favourable
• Innovation and new drug development
• Ageing populations
• Higher incidence of lifestyle and chronic ailments
• Emerging market demand increase
• Increasing health awareness
Pharma industry growth
• Pharma company manufacturing footprint rationalisation
• Increasing prevalence of outsourcing particularly by Big Pharma
• Asset-backed manufacturing agreements
• Greater focus on core business
Increasing outsourcing trend – mature product
• Greater dependence on CDMOs as they lack development and manufacturing resources
• Innovative virtual models with limited infrastructure
Increasing outsourcing trend - Small & Mid-sized specialty pharma
Market Growth in the CDMO Industry
1
Leading CDMO with Resilient Business Model
13
Note1. Interim report 1H 2016
Full service offering across the life cycle, from discovery to commercial manufacturing, provided through following business segments:
• Manufacturing
− Sterile Liquids manufactures sterile technologies including liquid vials, lyophilisates and blow fill seal products
− Solids & Others is focused on manufacturing tablets, capsules and semi-solids. Also includes other dosage forms such as patches, aerosols and others
• Development & Technology offers pharmaceutical development services based on a range of technologies as well as a large number of proprietary products and an attractive IP portfolio
− API development capabilities
− GMP pilot facilities
− Drug delivery methods
− Regulatory support
• Synergies between manufacturing and development
− D&T initiatives drives growth in the manufacturing segments
− Simplifies process for “tech transfer”
− Manufacturing can generate new development activities
Contribution to Sales1
Contribution to EBITDA1
D&T 17%
Sterile Liquids 40%
Solids & Others 43%
D&T 18%
Sterile Liquids 45%
Solids & Others 37%
Broad Coverage and Built-in Synergies
2
Manufacturing
Manufacturing
Business Segments
Key Services and Capabilities
Financials (LTM 1H 2016)
As % of Group (1H 2016)
Solids and Other Sterile Liquids
• Broad capabilities across solids, semi-solids, liquids, inhalation and other dosage forms
• Significant experience in handling highly potent formulations (hormones) and controlled substances
• Excellent capabilities for modified and controlled release dosage forms
• Revenue: SEK 1,928m
• EBITDA margin: 10.1%
• Broad capacities in ampules, vials, sterile powders, lyophilisates and ophthalmics
• Large existing lyophilisation capacity with ongoing further expansion at Wasserburg and Masate facilities
• Broadening biologics/injectable-related service capabilities
• Increased scale through the 2016 acquisitions
• Revenue: SEK 1,349m
• EBITDA margin: 21.0%
37%
45%
EBITDA
14
43% 40%
Revenue Revenue EBITDA
Leading CDMO with Resilient Business Model 2
Manufacturing Division Delivering Sustainable Profitability
15
Products: Sterile Liquids, Solids and Others
Solids Semi-solids Liquids Injectables APIs Ophthalmics
Organic Growth Drivers Key Competencies Leveraging Strategic Opportunities
- India
1. Focused sales organisation and processes
2. Serialisation – a business opportunity
3. Invest for growth
‒ Lyophilization capacity
‒ Blow Fill Seal (BFS) capacity
• Strong domestic market growth
Strong volume demand
• Indian Market Access to
European/US customers
• Access to low-cost development
capabilities
• Cost effective export from India to
Asia/CIS/Africa
• Combined capabilities Europe/India
leverage new opportunities and
improved ways of working
Wide service offering
Leveraging existing customer base
Operational efficiency, quality focus and delivery performance
Broad global reach – Europe, US and Asia
2 Leading CDMO with Resilient Business Model Manufacturing Driving Organic Growth and Efficiencies
16
D&T Strategy
Europe Bring more products, new to the market and with higher
margins to Recipharm manufacturing
Develop new Gx products, controlled by Recipharm, for
out-licensing
Make strategic investments
Expand on Erdosteine and ThyroSafe®
Role of D&T Division Global Reach of D&T
North America
Asia
Development Services
• Generate business for manufacturing
• High technical expertise supports problem solving capabilities and creates a deeper partnership
Technology Services
• Developing new products and IP
• Access to IP of drug delivery technologies
• Sweden – Solna, Uppsala • France – Pessac (Bordeaux) • Israel – Ness Ziona • Italy – Paderno Dugnano
(Milan)
• USA – Research Triangle Park, NC
• India – Bangalore (from Q4-16)
2 Leading CDMO with Resilient Business Model D&T Division Driving Margin Expansion and Growth
Big Pharma
39%
Small- and Mid-
Sized Specialty
Pharma 35%
Generic
15%
Emerging
Pharma
1% Other
10%
17
1/ Based on 2015 Annual report 2/ Based on 2015 figures 3/ Now acquired by Mylan, which was a material customer of Recipharm even prior to the acquisition
Customer 1
14% Customer 2
11%
Customer 3
6% Other
69%
Long-standing Customer Relationships 400+ Customers
Wide and Diversified Customer Base1
(since 2009) (since 2002)
(since 1993) (since 1990)
Three Largest Customers 31% of Sales 2015
No Single Product More Than 3%2
15% of 2015 Sales Backed with Recipharm IP2
High Barriers to Switch/Exit
Centralized Key Account Management
(since 1998)
(since 2007)
Long-Standing Customer Relationships 3
3
Successful Acquisition and Integration Track Record
18
4
Recipharm Screening Model – A Recipe for Synergies
TECHNOLOGIES
Freeze dried ampoules
Injectable hormones
Effervescent tablets
Opthalmics
Niche API’s
Pre-clinical chemistry
Coated pellets
Blow-fill-seal
Niche dosage forms
MARKETS
Europe
India
Israel
North America
RELATIONSHIPS
~ 160 new customers gained since IPO
RELATIONSHIP
MARKET
TECHNOLOGY
Corvette Group Lusomedicamenta
OnTarget Chemistry
Nitin Lifesciences
Kemwell SE
Mitim Cirrus (Kemwell USA)
RELATIONSHIP
MARKET TECHNOLOGY
Corvette GroupLusomedicamenta
OnTarget Chemistry
Nitin Lifesciences
Kemwell SE
MitimCirrus (Kemwell USA)
Integration Process Status
Achieved in 2016: Acquisition & Integration of Brescia Acquisition of Uppsala Acquisition of Research Triangle Park site Acquisition of 2 Indian CDMOs (Kemwell expected to close in 4th Quarter)
On-going activities
• Grow volumes with existing customers
• Capture synergies is Uppsala
• Set up Recipharm brand in the US
• Integration
Further initiatives
• Bring new customers
• Extend relationships with Pfizer
• Extend our presence in the US
• Explore further growth in the Indian market
Lean manufacturing:
• Swedish Operations (Savings: 60 MSEK/year)
• Ex-Kemwell Uppsala site synergies (Savings: 25 MSEK/year)
• Lean Initiative at each of our manufacturing sites
Streamlining Operations
Procurement:
• Reduce complexity in our current procurement chain
• E-Procurement (reverse auctions)
• Leverage our presence in India
Supply Chain:
• One-Stop-Shop Solutions
• Involve India as service provider
• Purchasing
Adjust Capacity to the Demand:
• Increase capacity
• Optimize product mix
(Lyophilisation, BFS)
Administration:
• Finance
• Payroll
• IS/IT
Some shared services already implemented
Demonstrable Results from Streamlining Efforts
19
5
Lean Manufacturing
• Swedish Operations
(Savings: 60 MSEK/year)
• Ex-Kemwell Uppsala site
synergies (Savings: 25
MSEK/year)
• Lean Initiative at each of
our manufacturing sites
Procurement
• Reduce complexity in our
current procurement chain
• E-Procurement (reverse
auctions)
• Leverage our presence in
India
Adjust Capacity to the Demand
• Increase capacity
• Optimize product mix
(Lyophilisation, BFS)
Administration
• Finance
• Payroll
• IS/IT
Some shared services already
implemented
Supply Chain
• One-Stop-Shop Solutions
• Involve India as service
provider
• Purchasing
Highly Experienced and Proven Management Team
20
CEO Thomas Eldered
Executive Vice President, Financial, Control & Investor Relations
Björn Westberg
President, Manufacturing Services Europe Kjell Johansson
Executive Vice President, Global Technologies Carl-Johan Spak
Executive Vice President, Corporate Development Mark Quick
Vice President, Business Management Kenth Berg
Vice President, Operations Development Magnus Renck
Vice President, Human Resources Jonas Lejontand
Executive Vice President Strategy & Global Integration Jean-Franςois Hilaire
Vice President Manufacturing Services & Head of CSR Erik Haeffler
Vice President, Quality Management Thomas Beck
6
21
Financial Overview
Sales Development
22
2014 Corvette Lusomedicamenta
2015 OT Chemistry
2016 Mitim Nitin Kemwell (US+SE)
2014 - disc. Distribution SE + Pessac operations + Thyrosafe 2015 - disc. FR pack. Contract
- less sales product in FR + UK IP sales
2016 + Alcon contract
Acquisitions “Existing” Business
16%
14%
12%
10%
8%
6%
4%
2%
0%
Organic growth
0
500
1 000
1 500
2 000
2 500
3 000
3 500
4 000
2013 2014 2015 2016-Q2 (LTM)
Organic sales Acquired sales
Note: All financial figures in SEKm
23
Layout TBU for Q2 To Company – may you please share with advisors the
PPT file of this slide
Sales Development – By Segment
Sterile Liquids Solids & Others Development & Technology
FY
• Sales from new products increased together with contributions from acquisitions
H1
• Positive contributions from Nitin and Mitim acquisitions and new contract in Kaysersberg
• EBITDA negatively impacted by discontinued packaging-only contract from a Big Pharma customer
713
957
22.1% 23.1%
FY2014 FY2015
FY
492
883 26.2%
21.6%
H12015 H12016
H1
1,578
1,833
12.6%
6.4%
FY2014 FY2015
FY FY H1
FY
• Increased sales from acquisitions offset the negative impact of discontinued distribution business in Sweden
H1
• Positive contribution from acquisitions, price increases and more production of Thyrosafe (internal sales to D&T)
FY
• Increased sales mainly due to acquisitions and good performance for some of the own products
H1
• Positive revenue contributions from acquisitions (OT Chemistry and Cirrus) and higher sales of Thyrosafe
• Lower EBITDA margin due to negative EBITDA from acquisitions and lower sales of few high-margin products
929 1,024
8.4%
15.1%
H12015 H12016
H1
Note: All financial figures in SEKm
409 404
31.3%
18.3%
H12015 H12016
399
767
25.2% 28.9%
FY2014 FY2015
24
EBITDA Development
2013 2014 2015 2016
EBITDA Margin
• 13.3% (LTM Q113) → 14.8% (LTM Q216)
Target > 16.0%
• Q216 best ever at 19.4% (17.9% in Q215)
EBITDA (LTM)
• 275 (LTM Q113) → 572 (LTM Q216)
• Accretive acquisitions
• Large portfolio contracts
• D&T development
8%
10%
12%
14%
16%
18%
20%
22%
200
250
300
350
400
450
500
550
600
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2
LTM EBITDA LTM EBITDA Margin Quarterly EBITDA Margin
Note: All financial figures in SEKm
Leverage Development
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80Net Debt to Equity
2013 2014 2015 2016
-1.5
-1.0
-0.5
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5Net Debt to EBITDA (LTM)
2013 2014 2015 2016
2014 IPO - Equity Q4 – Corvette (IT) Q4 – Lusomedicamenta (PT) 2016 Q1 – Mitim (IT) Q2 – Nitin 74% (IN) Q2 – Rights issue
Net Debt to EBITDA
• Focus 2.0-3.0 (adjusted for acquisitions)
• Currently (Q2) 3.2 Adjusted ~2.6 1/
• Assuming Kemwell India in Q4-16 ~ 3.2 2/ 1/ adjusted for full year effect for completed acquisitions
Debt Structure June 30 – 2016
• Term loan, used SEK1,473m (of 1,500)
• Revolving credit fac. Used SEK937m (of 1,500)
• Other interest bearing debt SEK223m Total SEK 2,633m interest bearing debt
25 2/ adding full effect on Kemwell India, including acquisition price effect and full year EBITDA effect
Note: All financial figures in SEKm
0%
2%
4%
6%
8%
10%
12%
14%
16%
18%
20%
1900
2200
2500
2800
3100
3400
3700
4000
Financial Development vs Targets
26
2013 2014 2015 2016
Net Sales (LTM) 3,856
2,066
+87%
-0.40
-0.20
0.00
0.20
0.40
0.60
0.80Net debt to Equity
2013 2014 2015 2016
Net Sales
• 2,066 (LTM Q113) → 3,856 (LTM Q216)
• CAGR 21.6%
• Target > SEK 8bn 2020 Net sales (LTM)
EBITDA (LTM) margin
EBITDA
• 13.3% (LTM Q113) → 14.8% (LTM Q216)
• Target > 16.0%
Net Debt to Equity
• Q2-16 0.4 (0.4)
• Target < 0.8
Note: All financial figures in SEKm
> SEK 8bn 2020
= double sales 4+ years
ORGANIC GROWTH
Key areas 17 18 19+ Lyo expansion + + + BFS expansion + + Emerging markets + + + Existing pipeline + + +
+ New contracts (large & small)
Already > 5bn
(incl. FY effect acquisitions) Acquisitions
27
On Track To Achieve Targeted Growth
28
Appendix
Shareholding and Dividend Policy
29
Shareholder Capital Votes
(30 June 2016) (%) (%)
Flerie Participation 19.4 40.3
Lannebo fonder 12.3 3.9
Cajelo invest 12.1 38.0
First SE-pension fund 6.1 1.9
Kemfin holdings 6.0 1.9
Fourth SE-pension fund 5.5 1.7
4 733 shareholders;
15% of capital outside SE
Dividend policy 30-50% of profit after tax
• Higher multiples in growing markets
• Multiple decrease at time of closing as well
• EPS accretive acquisitions
Acquiring Competitors
1/ Financial data taken from related press releases and rights issue prospectus 2/ Adjusted SEK 25 identified synergies and 14 as non-recurring costs 2015
30
Acquisition 1/ Sales EV EBITDA EV/EBITDA Comment
Corvette (IT) 499 998 130 7.7
Lusomedicamenta (PT) 456 1,039 114 9.1
OT Chemistry (SE) 29 15 not disclosed
Mitim (IT) 453 640 80 8.0
Kemwell (US+SE) 463 706 81 (43) 8.7 (16.5)2/
Nitin (IN) 391 1,114 94 11.9 High market growth in
India Kemwell (IN) 284 982 47 20.9
Kemwell (all) 746 1,688 128 (90) 13.2 (18.8)
Note: All financial figures in SEKm
31
1
91
39 45
0
20
40
60
80
100
2013 2014 2015 2016YTD
MSEK
• Thyroid blocking in radiation emergency
• Unique international product extremely well suited for a specialist in manufacturing
• FDA approved with 10 years shelf life
• Volatile sales, mainly based on tender orders
Erdosteine
• Unique mucolytic product originating from Edmond Pharma
(Corvette acquisition)
• International sales
‒ Europe, Korea, China, Indonesia, Turkey …….
• Sales growth
• API and finished dose forms
• Capsules, dry suspension, dispersible tablets and sachets
• Orphan Drug Designation in the US (partner Alitair)
• Modern Clinical Documentation
32
Focused Sales Efforts are Delivering Results
33
Customer Focused Sales Process
Responsibilities Clearly Defined on a Central and Local Level
Website Fairs/exhibitions Business network From D&T
Lead generation
Simplified Sales Process Illustration
Evaluation Negotiation
New
Current
BM
KAM/CM
CM
BM
KAM/CM
CM/GM
Finalisation
Revenue generation
Customers Find opportunities
* Highly dependent on development work, investments and regulatory tasks
Winning Complex Contracts
Company: Redhill Biopharma Ltd Tillotts Pharma AG
Products:
Technologies:
Investments:
Key success Factors:
• Entocort, Asacol • RHB-105 (antibiotic)
• Spray coating, Capsules, Tablets, Liquids, Packaging
• Spraycoating, Mini-tablets, Capsules, packaging
• 3.5 m€ • 1.5 m€
• Customized approach (BM, KAM) • Full service offering, managing complexity • Pharmaceutical expertise