wyeth UBS Global Life Sciences Conference

1,107 views

Published on

0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
1,107
On SlideShare
0
From Embeds
0
Number of Embeds
9
Actions
Shares
0
Downloads
21
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

wyeth UBS Global Life Sciences Conference

  1. 1. UBS Global Life Sciences Conference Greg Norden Senior Vice President and Chief Financial Officer September 25, 2007 Wyeth
  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 and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include risks associated with the inherent uncertainty of the timing and success of product research, development and commercialization (including with respect to the NDA filings for Wyeth’s pipeline products referenced in this presentation), drug pricing and payment for Wyeth’s products by government and third-party payers, manufacturing, data generated on the safety and efficacy of Wyeth’s products, the impact of competitive or generic products, trade buying patterns, global business operations, product liability and other types of litigation, the impact of legislation and regulatory compliance, intellectual property rights, strategic relationships with third parties, environmental liabilities, and other risks and uncertainties, including those detailed from time to time in Wyeth’s periodic reports filed with the Securities and Exchange Commission, including Wyeth’s current reports on Form 8-K, quarterly reports on Form 10-Q and annual reports on Form 10-K, particularly the discussion in Wyeth’s 2005 annual report on Form 10-K under the caption quot;Item 1A, Risk Factors.quot; Wyeth assumes no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise. 2
  3. 3. Wyeth Performance: 2nd Quarter and Six Months 2007 - Key Financial Elements* 2Q 2007 YTD 2007 Net Revenue +10% +10% Gross Margin 73.7% 73.4% SG&A Expense +2% +2% R&D Expense +11% +10% Operating Profit +18% +20% Tax Rate 30% 29% $0.90 $1.84 Diluted Earnings Per Share +13% +12% *Adjusted to Exclude Certain Significant Items. See Press Release Issued July 19, 2007 3
  4. 4. Marketed Products Strong Performance In 2Q07 Enbrel +22% $823 M (Amgen) $508 M (Wyeth) $1.3B Effexor $977 M +7% Prevnar +22% $633 M Protonix +25% $550 M 1st Half 2007 Pharma Nutritionals +19% $358 M Revenue +11% Alliance Rev. -1% $355 M Zosyn +17% $280 M Biotech Premarin Biotech Now +3% $267 M Revenues +28% Represents 37% in 1H07 BeneFIX -10% $81 M of Total Pharma BMP-2 $95 M +4% Revenues Rapamune +3% $89 M $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 (in millions) 4
  5. 5. Efforts Continue to Contain Cost Structure While Allowing Support of Key Brands and R&D 2007 Guidance* Raised Pro Forma EPS Guidance on 7/19/07 to $3.48 to $3.56 • Pro Forma EPS +11% to +13% • Revenue Growth Mid to High Single Digit • Gross Margin 72% to 74% • SG&A Increase at a Significantly Lower Rate than Revenue • R&D Growth Mid Single Digit • Tax Rate 27% to 29% • Continue to Grow the Bottom Line at a Meaningfully Faster Rate Than Revenue Growth * Excludes Certain Significant Items 5
  6. 6. 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) 6
  7. 7. Enbrel is One of the Ten Best-Selling Pharmaceutical Products in 13 Countries 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, Norway and Germany Enbrel is Ranked in the Top 10 in: U.K. Denmark Greece Belgium Luxembourg Spain U.S. Finland Ireland Netherlands Source: C&MI, IMS Midas Global Data MAT 2Q07 7
  8. 8. Enbrel Japan Product Launch in March 2005 Under PMS Program n PMS Enrollment Lifted April 2007 n 4Cumulative 14,000 Patients Enrolled Strong Revenue Growth in Japan in 2007 n 41H07 $56M (+75%) 42Q’07 $34M (+140%) Expect Enbrel to Exceed $500 Million in Annual Sales in the Asia-Pacific Region 8
  9. 9. Prevnar – Strong Global Growth First Half 2007 Growth Current Status Registered Countries 89 United States $578 +13% Launched Countries 84 EMEA 508 +50% Current National Latin America 94 +118% 16 Programs Asia Pacific 69 +24% National Programs 6 Announced* TOTAL $1,249 +31% * Includes Ireland, Denmark, Cyprus, New Zealand, Costa Rica and Peru 9
  10. 10. Prevnar – Growth Potential x Double Sales by 2010 2009 • New Launches $4 • NIPs • Compliance/Catch-up $3 B + • Emerging Markets $3 Sales ($ Billions) $2 $1.5 B $1 $0 2005A 2009E Source: Wyeth internal sales data, 2007 10
  11. 11. Prevnar – Redefining The Possible Total Market Potential $6.0 B Emerging Markets Total Emerging/Developing Potential $3.5 B Total Developed Market Potential $2.5 B Prevnar 2006 $2.0 B Prevnar Prevnar Penetration: Penetration: Penetration: 33% 4% 73% (2006) (2006) 11
  12. 12. Prevnar 13v – Expanding the Coverage Infant Adult Provide broadest coverage Provide first and only conjugate vaccine that offers adults, age 50 available for the global protection 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 upon n Licensing criteria agreed upon n Worldwide phase 3 studies n Status Worldwide phase 3 studies ongoing n ongoing Submission late 2009 n Submission early 2009 n > $3 Billion > $1.5 Billion Peak Sales 12
  13. 13. Wyeth’s Current/Near Term Opportunities Recent FDA Pending FDA Pending Upcoming Further Trials Approvals Approval Submissions Viviant™ Aprela™ Pristiq™ Lybrel ™ Osteoporosis Prevention Menopausal Symptoms & Vasomotor Symptoms & Treatment Osteoporosis Torisel ™ Pristiq™ Bifeprunox Methylnaltrexone Depression (I.V.) Prevnar 13v Tygacil™ Methylnaltrexone Infant (Subcutaneous) (HAP) ReFacto® AF Prevnar 13v Adult Tygacil™ (CAP) 13
  14. 14. BMP-2: Revolutionary Product Meeting Significant Medical Needs Indications INFUSE Sales 2004: 2007: (As Reported by Medtronic) 2002: Open Tibia Oral Maxillofacial $700 Spinal Fusion Fracture Procedures + 30% % $600 50 :~ GR + 41% $500 CA $400 $ mil + 102% $300 Approved in 37 Countries n $200 Used in ~300,000 Patients n $100 Oral Maxillofacial Procedures n 4 Approved by FDA in March 2007 $0 AMPLIFY for Posterolateral Spinal Fusion 2003 2004 2005 2006 n 4 Submitted to and Accepted by FDA in Q1 2006 14
  15. 15. Wyeth Nutritionals Business Unit • Strong Revenue Growth in $ Million International Markets 1,500 • 2006: Global Nutrition $1.2B • 12% CAGR (’03-’06) 1,000 • Business Based on Science $705M and Innovation • Gold with Lutein 500 • Medical Messaging • Compelling Product Line / 0 Markets 2003A 2004A 2005A 2006A 2007 1H Asia Pacific EMEA • 1st – 4th Age Segments Latin America N America • Specialty Products • Growing Markets 15 Source: Wyeth Finance
  16. 16. Wyeth Nutrition Global Presence (2006 Revenue) Europe / Middle East $314M + 3% Asia Pacific $690M + 23% Latin America $193M + 15% 2006 Net Revenue $1.2 Billion (+15%) > 60 Countries Notation: Region Net Sales (2006A) Growth, ’06A vs ’05A 16 N America Sales not included
  17. 17. Wyeth Consumer Healthcare Centrum®, Preparation H®, Caltrate ® and Robitussin® All Hold Number One Positions in Their Markets Wyeth Consumer Health - Solid Contributor to n Revenue and Profit Growth at Wyeth 4Worldwide Revenue +7% for 1st Half 2007 4Strong Worldwide Growth From Key Brands 4Strong International Growth - +16% in 1st Half 2007 17
  18. 18. Driving Growth with Global Brands Model for Success Yielding Growth, Driven by International YTD Global % Int’l. % 6/30/07 Growth Growth ANALGESICS $370 M +8% +9% CENTRUM $327 M +8% +22% CALTRATE $106 M +8% +12% 18
  19. 19. Wyeth’s Animal Health Business Net Sales 2004-2006 $1,200 7% $1,000 5% 5% $800 ($ Millions) $940 M $837 M $880 M $600 $400 $200 $0 2004 2005 2006 First Half 2007 Animal Health Net Revenue Was $554 Million (+6.5%) On Track to Exceed $1 Billion Mark in 2007 19
  20. 20. Offers Flea and Tick Protection for Dogs and Flea n Protection for Cats n European Approval 2006; U.S. Approval 2007 n Largest Category in the Animal Health Market With Global Annual Sales Exceeding $1.2 Billion n No Major New Product For Flea and Tick Protection in Over Ten Years n Fort Dodge Animal Health Has Strong Position in the U.S.A. Companion Animal Market n ProMeris New Compound With Novel Mode of Action n Expect ~$200 Million Third Full Year Sales 20
  21. 21. Positioning Wyeth To Be A Stronger Company Wyeth Continues to Have a Strong Portfolio of Marketed n Products and a Solid Pipeline of Potential Therapies We Are Confident in the Quality and Productivity of Our n Research Organization and Our Ability to Bring New Products to Market. Wyeth Is a Financially Strong Company With Considerable n Resources and We Will Continue to Improve Profitability by Enhancing Productivity We Are Committed to Achieving Our Stated Goal of Delivering Solid Top Line Growth, Effectively Managing Costs, and Growing the Bottom Line at a Meaningfully Faster Rate Than the Growth in Revenues 21

×