wyeth Wyeth at Credit Suisse Healthcare Conference


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wyeth Wyeth at Credit Suisse Healthcare Conference

  1. 1. CSFB Healthcare Conference Joe Mahady Senior Vice President, Wyeth and President Global Business, Wyeth Pharmaceuticals November 13, 2007
  2. 2. Forward-Looking Statement The statements in this presentation that are not historical facts are forward- looking statements based on current expectations of future events that involve risks and uncertainties including, without limitation, risks associated with the inherent uncertainty of pharmaceutical research, product development, manufacturing, commercialization, economic conditions including interest and currency exchange rate fluctuations, the impact of competitive or generic products, product liability and other types of lawsuits, the impact of legislative and regulatory compliance and obtaining approvals, and patent, and other risks and uncertainties, including those detailed from time to time in Wyeth’s periodic reports, including quarterly reports on Form 10-Q and the annual report on Form 10- K, filed with the Securities and Exchange Commission. Quarterly results, in particular, can vary due to issues which include, but are not limited to, changes in exchange rates, the timing of actions taken by the Company to ensure long-term improvements to our manufacturing processes, the timing of regulatory approval of new products and/or facilities and the timing of promotional programs. Actual results may vary materially from the forward-looking statements. The Company assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise. 2
  3. 3. Wyeth Performance: 3rd Quarter and Nine Months 2007 - Key Financial Elements* 3Q 2007 YTD 2007 Net Revenue +9% +10% Gross Margin 73.2% 73.3% SG&A Expense +8% +4% R&D Expense +5% +9% Operating Profit +14% +18% Tax Rate 29.6% 29.3% $0.90 $2.74 Diluted Earnings Per Share +7% +10% *Adjusted to Exclude Certain Significant Item. See Press Release Issued October 18, 2007 3
  4. 4. Marketed Products Strong Performance For Nine Months 2007 Enbrel +22% $2.4 B (Amgen) $1.5 B (Wyeth) $3.9 B Effexor +1% $2.8 B Prevnar +29% $1.9 B Protonix +5% $1.4 B YTD 2007 Pharma Nutritionals +18% $1.1 B Revenue +11% Alliance Rev.* 0% $973 M Zosyn +17% $845 M Biotech Premarin Biotech Now +0% $791 M Revenues +26% Represents 36% YTD 07 BeneFIX +16% $304 M of Total Pharma BMP-2 $284M +23% Revenues Rapamune +8% $265 M $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 $3,500 $4,000 $4,500 (in millions) * Includes Enbrel, Cordis, Altace 4
  5. 5. 2006 Wyeth’s Leadership Positions #1 Antidepressant #1 RA & Psoriasis Biologic #1 Vaccine #1 HT #1 I.V. Antibiotic #1 Hemophilia B #1 Infant Formula (In Markets Where We Compete) 5
  6. 6. Ranked #6 In The World Countries Where Enbrel is Ranked In the Top Ten In Terms of Sales (MAT 2Q07) Enbrel is Ranked #6 Globally and #4 In Europe Enbrel is Ranked #1 in Sweden and Norway Enbrel is Ranked in the Top 10 in: U.K. Germany Greece Belgium Luxembourg Spain U.S. Finland Ireland Denmark Netherlands Source: C&MI, IMS Midas Global Data MAT 2Q07 6
  7. 7. Growth Potential Reliable Safety and Efficacy Profile n 4 Over 470,000 Patients Treated Worldwide 4 Over One Million Patient Years Market Experience >500,000 Biologic-Eligible Patients Not Treated With Biologics in n EMEA (All Indications) >300,000 Biologic-Eligible RA Patients Not Treated With Biologics in n Japan 4 Japanese Post Marketing Surveillance Program Lifted 2Q07 Significant Growth Opportunities Exist n 4 Biologics Market Penetration: - Ra: U.S. = ~48%; EU = ~41% - Psoriasis: U.S. = ~16%; EU = ~12% $3 Billion Enbrel Sales in 2010 (Outside North America) 7
  8. 8. Growth Potential Registered in 89 Countries; Launched in 86 Countries n Current and Future Opportunities Birth Cohorts Current National Immunization Programs ~ 10 Million (17 Programs to Date) Announced National Immunization Programs ~ 1 Million (Ireland, Cyprus, New Zealand, Costa Rica, Peru) Potential National Immunization Programs (2008-2009) ~ 12 Million (e.g. Brazil, South Africa, Saudi Arabia ,Czech Republic, Turkey) Private Markets ~ 38 Million (India, Indonesia, Pakistan, Philippines, Romania) Future Markets ~ 20 Million (China, Japan, Russia) x $3 Billion Prevnar Sales in 2010 2009 (Infant Vaccination) 8
  9. 9. Prevnar 13v – Expanding the Coverage Infant Adult Provide Broadest Coverage Provide First and Only Conjugate Vaccine That Offers Adults, Age Available for the Global Protection 50 and Above, an Opportunity to of Children Against Pneumococcal Opportunity Prevent Pneumococcal Disease Pneumonia for the Rest of Their Lives Phase 2 Proof of Concept Proof of Concept Achieved n n Achieved Licensing Criteria Agreed n Licensing Criteria Agreed Upon Upon n Status Worldwide Phase 3 Studies Worldwide Phase 3 Studies n n Ongoing Ongoing Submission Early 2009 Submission Late 2009 n n > $3 Billion > $1.5 Billion Peak Sales 9
  10. 10. Growth Potential Expanded Broad Spectrum Antibiotic That Can Simplify n Management of Patients at Risk of Resistance 4Over 250,000 Patients Treated Since Launch Commercially Available in 46 Countries; 22 to Launch in 2008 n Unmet Need Expanding With Growing Problem of Resistance n 4MRSA Rates Now Exceed 50% in the U.S. 4Resistance to K.Pneumonia Exceed 23% in EU, AP and LA Community-Acquired Pneumonia Submission Made in 3Q07; n Plan to Begin New Studies for Hospital-acquired Pneumonia in 2008 $1B Peak Tygacil Sales (Global) 10 MSRA Methicillin-resistant Staphylococcus Aureus
  11. 11. Growth Potential Torisel Is the Only Renal Cell Carcinoma Agent Proven n to Extend Overall Survival 2nd Line Sutent Failures Currently Enrolling n 4Data Available 2009 2nd Line RCC Represents ~50% of 2010 Sales n Phase III in Mantle Cell Lymphoma Complete – EU n Filing Anticipated Shortly Torisel Peak Sales > $500M (Global) 11
  12. 12. Wyeth Nutritionals Business Unit Strong Revenue Growth in n International Markets $ Million 1,500 42006: Global Nutrition $1.2B 412% CAGR (’03-’06) $1.1B 1,000 Business Based on Science n and Innovation 4Gold with Lutein 500 Compelling Product Line / n 0 Markets 2003A 2004A 2005A 2006A 2007 9M 41st – 4th Age Segments Asia Pacific EMEA Latin America N America 4Specialty Products 4Growing Markets Source: Wyeth Finance 12
  13. 13. Wyeth Nutrition Global Presence (YTD Sept 2007) Europe / Middle East $275M + 16% Asia Pacific $609M + 19% Latin America $163M + 16% YTD Sept 2007 Net Revenue $1 Billion (+17%) > 60 Countries Notation: Region Net Sales (YTD Sept 2007A) Growth, ’07 vs ’06 13 N America Sales not included
  14. 14. New Products Update
  15. 15. TM Pristiq (desvenlafaxine): SNRI Refined Therapy DEPRESSION FDA Approvable Letter Received; Action Date: Feb 2008 n First Line Option for Treatment of Major Depressive Disorder n Excellent Results Achieved With Low Dose Studies n 4 Demonstrated Efficacy at 50 mg; Replicated Efficacy at 100mg 4 Reduction in Adverse Event Related Discontinuation Rates vs. Higher Doses 4 Substantial Improvement in Nausea Rates and Overall Tolerability vs Higher Doses VASOMOTOR SYMPTOMS FDA Approvable Letter Received n Safety Study Under Discussion with FDA; Study Initiation Planned n for Early 2008 15
  16. 16. Methylnaltrexone: Addressing a Significant Unmet Medical Need Opioid Induced Constipation (OIC) Estimated 5 Million Patients With OIC A Common Side Effect That Can Be a (U.S. Data) n Barrier to Effective Pain Management Laxative Therapies Not Always n Effective Arthritis/Joint No Medicines Approved to Treat OIC n Advanced Illness 15% Subcutaneous and Oral in Development 34% n PDUFA January 30, 2008 (SC) n All Neck/Back 37% All Other Post Operative Ileus (POI) 14% A Complication of Surgery That Delays n Recovery and Can Extend Hospital Stay No Medicines Approved to Treat POI n Potential for Significant Patient and n Economic Benefit ~ 1.8 Million Patients in Initial NDA to Be Filed Mid 2008 Indication of Advanced Illness n Development collaboration with Progenics 16
  17. 17. Viviant™ for Osteoporosis Prevention NDA Approvable Letter Issued April 23, 2007 n 4 FDA Requested Safety and Efficacy Data From the 3-Year Treatment Study Including an Analysis of the Incidence of VTEs and Stroke Complete Response Submitted June 2007 n 4 New FDA Action Date December 2007 Wyeth Evaluating Submission of Data From Two Additional n Clinical Studies to Be Completed in Late 2007 to Further Support the Prevention Indication NDA for Treatment of Osteoporosis Filed July 2007 n Since Both NDAs Now Contain Virtually the Same Clinical Data It n Is Possible That the Timeline for the Review of These Two NDAs May Move Closer Together European Filing for Treatment and Prevention Completed in n September 2007 17
  18. 18. Aprela™ and Viviant™ Comprehensive Menopausal Therapy TSEC SERM Aprela Viviant (Bazedoxifene/CE ) (Bazedoxifene) Vasomotor Symptoms Osteoporosis Prevention Vulvovaginal Atrophy Osteoporosis Treatment Osteoporosis Prevention 18
  19. 19. ™ Aprela : First Tissue Selective Estrogen Complex (TSEC) for Menopausal Women Three Potential Indications: 4Treatment of Moderate to Severe Vasomotor Symptoms 4Treatment of Moderate to Severe Vulvar/Vaginal Atrophy Target Filing Date: 4Prevention of Postmenopausal U.S. 2Q 2008 Osteoporosis Two Strengths: 420 mg/0.45mg Assumes Successful Completion of Formulation and Bioequivalence 420mg/0.625mg Work As Well As Clinical Studies and Other Work Necessary for NDA 19
  20. 20. Positioning Wyeth To Be A Stronger Company Build Breadth and Diversity Into Every Aspect of the n Company So Wyeth Will Never Be Dependent on One Product or Any One Research Program Continue to Improve Profitability by Enhancing Productivity n Achieve Solid Top Line Growth, Effectively Manage Costs, n and Grow the Bottom Line at a Meaningfully Faster Rate Than the Growth in Revenues Position Wyeth to Be a Stronger Company at the End of Position Wyeth to Be a Stronger Company at the End of the Decade Then We Are Today and Enter the the Decade Then We Are Today and Enter the Next Decade With Great Momentum Next Decade With Great Momentum 20