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AMCo – new beginnings 20th November 2013
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Presenter John Beighton
Medical Rep/Regional Manager - Smith Kline and French UK Various sales and marketing jobs – SmithKline Beecham UK Commercial Director – APS Berk/Teva UK Managing Director Teva UK VP Global Business Optimisation – Teva Pharmaceutical Ind. 2009 – 2010 CEO AMCo 2010 to date
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Company Origins “G word” Rebranding £367m £465m Refinancing Mar-12
Oct-12 Aug-12 £367m £465m Jan-13 Refinancing
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80% 38 Rx Mercury Pharma 1991 £106 ------ ------ ------ ------ ------
Established 1991, Headquarters in South London Acquired by Cinven (Private Equity) August 2012 for £465 million ------ ------ £106 million ------ ------ 2012 Sales 80% ------ ------ Revenues in the United Kingdom 38 ------ ------ Countries with commercial presence Rx Established Brands and Generics Virtual Business Model (R&D, Manufacturing outsourced) ------ ------ Mercury Pharma
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34% 100+ Rx Amdipharm 2002 £109 ------ ------ ------ ------ ------
Established 2002, Headquarters East of London. Acquired by Cinven (Private Equity) August 2012 for £367 million ------ ------ £109 million ------ ------ 2012 Sales 34% ------ ------ Revenues in the United Kingdom 100+ ------ ------ Countries with commercial presence Rx Established Brands and Generics Virtual Business Model (R&D, Manufacturing outsourced) ------ ------ Amdipharm
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60% 112 Rx Amdipharm Mercury (AMCo) 2013 £248 ------ ------ ------
Combined group rebranded AMCo in March 2013 UK Office to be relocated to Central London ------ £248 million ------ 2013 Expected revenues (15% Growth) ------ ------ 60% Revenues in the United Kingdom ------ ------ 112 Countries with commercial presence ------ ------ Rx Established Brands and Generics Virtual Business Model (R&D, Manufacturing outsourced) ------ ------ Amdipharm Mercury (AMCo)
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Macrodantin, Furadantin, Macrobid, Furabid
Acquisition History Eltroxin levothyroxine £27m 13 Countries Liothyronine liothyronine £10m 10 Countries Diamox acetazolamide £5m 27 Countries Hygroton chlortalidone £5m 12 Countries Ludiomil maprotiline £3m 25 Countries Cafergot ergotamine £2m 26 Countries Hytrin terazosin £5m 21 Countries 1992 1999 2001 2004 2006 2007 2008 2013 Macrodantin, Furadantin, Macrobid, Furabid nitrofurantoin £18m 18 Countries Neomercazole carbimazole £12m 20 Countries Erythrocin erythromicin £16m 32 Countries Akineton biperiden £7m 21 Countries Transact flurbiprofen £8m 2 Countries Fucithalmic fusidic acid £26m >90 Countries figures quoted are 2013 forecast revenues
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International Commercial
Management Team Guy Clark Strategic Development Robert Sully General Counsel Vikram Kamath Finance Director John Beighton CEO John Cowell Human Resources Bharat Karbal Medical & Regulatory Jane Hill UK Commercial Karl Belk Global Operations Simon Tucker International Commercial Brian McEwan Managing Director Amdipharm Peter van Tiggelen CFO
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Company Performance Sales History by Company Millions
2010 to 2013 est. Millions
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Top 10 Molecules (Percentage of 2012 revenue)
Codeine + paracetamol 5% Levothyroxine 11% Erythromicin 8% Nitrofurantoin 7% Flurbiprofen 5% Biperiden 4% Liothyronine 4% Carbimazole 4% Prednisolone 4% Cyclizine 3%
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AMCo Strategy Consolidate strong position in UK
Off-patent brands and niche products
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UK Commercial Team Jane Hill UK Commercial Director Jeremy Devaney
Hospitals Jenna Pritchard National Accounts Neil Cook Promoted Products
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AMCo Strategy Focus on 5 Business Action Plans Operational Excellence
Culture and Integration Compliance – Quality and Reputation International Excellence Strategic Growth
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Global Coverage >50% of sales in UK AMCo offices/direct presence
Distributor network
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International Excellence
AMCo offices/direct presence Distributor network Target markets – direct presence
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Strategic Growth Licensing Development Acquisition Therapeutic Focus
Dedicated business development team focused on driving revenue and profit growth Therapeutic Focus Primary & Secondary Care Ophthalmology Endocrinology Urology Infectious Diseases Pain & Anaesthesia Brands Primary & Secondary Care Low Competition Stable Revenues and Profit Multiple Markets Growth Opportunities Geographic Expansion Companies & Products Company acquisitions Build out in Target Markets Portfolio Optimisation Distributor consolidation Generics Primary & Secondary Care Low Competition Barriers to Entry Branded Generics Sustainable Pricing
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Strategic Development Activity
Portfolio Optimisation – registering existing AMCo products into new markets where the product isn’t currently registered or sold, and using the existing manufacturers to make the product Product Development – creating new products with a contract development partner, whereby AMCo retains full ownership rights to the product, and freedom to choose who to manufacture the product In-Licensing – buying the rights to sell a third party’s product in a defined territory, and agreeing for the licensor to supply the product to AMCo for an agreed period of time (typically 5 years) Product Acquisitions – buying the permanent rights to own an existing product, in a defined territory (sometimes global e.g. Fucithalmic). The seller may wish to continue making the product, but more often would require AMCo to find a new supplier within 2-3 years
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