Company Presentation - Medios AG
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Company Presentation
Disclaimer
This presentation has been produced by Medios AG (the „Company“) and is strictly The forward-looking statements, including but not limited to assumptions, opinions and
confidential. The distribution of this presentation in certain jurisdictions is restricted by law views of the Company or information from third party sources, contained in this presentation
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your information and may not be copied, distributed or otherwise made available, in materially from those described in these statements. The Company does not guarantee that
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accept any responsibility for the future accuracy of the opinions expressed in this
The facts and information contained herein are as up to date as is reasonably possible and
presentation or the actual occurrence of the forecasted developments. No obligation is
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not be registered under the Securities Act.
This presentation contains certain forward-looking statements relating to the business,
This presentation speaks as of August 2019. Neither the delivery of this presentation nor
financial performance and results of the Company and /or the industry in which the
any further discussions of the Company with any of the recipients shall, under any
Company operates. Forward-looking statements concern future circumstances and results
circumstances, create any implication that there has been no change in the affairs of
and other statements that are not historical facts, sometimes identified by the words
the Company since such date.
»believes«, »expects«, »predicts«, »intends«, »projects«, »plans«, »estimates«, »aims«,
»foresees«, »anticipates«, »targets« and similar expressions in English or equivalent
expressions in German.
2
Management team
Manfred Schneider Matthias Gärtner Mi-Young Miehler Christoph Prußeit
Chief Executive Officer Chief Financial Officer Chief Operating Officer Chief Innovation Officer
Pharmacist IT-Specialist Business Economist Pharmacist
More than 20 years of More than 20 years of Business development Expert in the area of
pharmacy markets financial markets specialist pharmaceuticals
experience experience production and safety
3
Medios at a glance
Specialist for the provision of Specialty Pharma drugs to patients and
GMP*-certified provider of patient-specific therapies
Specialty Pharma: Individualised Medicine, treatment of chronic and/or
rare diseases, mostly time and cost intensive
BUSINESS SEGMENTS
PHARMACEUTICAL SUPPLY PATIENT-SPECIFIC MANUFACTURING DRUG SAFETY
• Highly focused on • Strongly positioned in • Innovative
Specialty Pharma drugs patient-specific medication measurement-,
• 1,000 products available • 90,000 individualised validation- and
preparations in 2019 certification
method
9M 2019 EBT*1 split 9M 2019 EBT*1 split
Group Supply 34%
Supply Group
€m €m
Manufacturing 12.8 Manufacturing 12.8
66%
* GMP: Good Manufacturing Practice ; *1 Adjusted for extraordinary expenses, e.g. stock options
4
Medios has the broadest Specialty Pharma product portfolio
to address EUR 12.5bn market opportunity in Germany
# OF MEDIOS PRODUCT EXAMPLES
INDICATION PATIENTS P.A.
INDICATION THERAPY
CATEGORY IN PRODUCT DISEASE COSTS
GERMANY* (EXEMPLARY)
• Breast cancer Opdivo ®
(manufactured • Skin cancer
• Prostate • Up to EUR
Cancer product,*1
• Lung cancer • Treatment:
cancer 1,600,000 no set purchase 160,000 per
diseases 6-12 months
• Leukaemia, price) • Renal cell patient/year
etc. carcinoma
• Multiple 200,000 Humira ®
Sclerosis • i.a. • Treatment: • Up to EUR
Autoimmune
• Morbus 300,000 rheumatism approx. 12 42,000 per
diseases Crohn weeks patient/year
• Rheumatism 1,500,000
Harvoni ®
Infectious • Hepatitis C 450,000
• Treatment:
• Up to EUR
diseases • HIV 88,400 • Hepatitis C 100,000 per
8-24 weeks
therapy
Replagal ®
• Alzheimer 1,000,000 • Approx. EUR
• Morbus • Treatment:
Others • ALS 8,000
Fabry 6-54 months
300,000 per
• Morbus Fabry 2,000 patient/year
* incl. estimated numbers of cases per year in Germany (sources: DAlzG, bms-virologie.de, RKI, PZ, dgn.org, DGRh, Der Nervenarzt, krebsinformationsdienst.de,
morbus-crohn-aktuell.de, fachinfo.de, hivandmore.de, shire.de) *1Patient-specific preparation required
Product from segment ‘Patient-specific Manufacturing’; Product from segment ‘Pharmaceutical Supply’ 5
Market environment
Dynamic market development in Germany
REVENUE OF PHARMACIES IN GERMANY 2017
Pharmacies revenue in Germany
(in EUR bn)
EUR 49.1bn Total
48.2
49.1
+1.9% yoy revenue 47.8
thereof 45.8
44.6
EUR 39.4bn Rx drugs
-1.0% yoy revenue 2013 2014 2015 2016 2017
thereof
Revenue Specialty Pharma Drugs* vs.
Revenue other RX-Drugs (in %)
192
EUR 12.5bn Specialty pharma Specialty Pharma Drugs
forecast: 10% yoy drugs revenue* RX-Drugs 158
149
123
100
2/3 1/3 106 111 108 111
100
2013 2014 2015 2016 2017
Finished medicinal products Manufactured products*1
* Sources: Arzneiverordnungsreport 2018, ABDA Zahlen, Daten, Fakten 2018;
*1Patient-specific preparation required
6
Market environment
Strong underlying drivers for future market growth
DEVELOPMENT OF NEW ACTIVE
PATIENT-SPECIFIC MEDICINE DEMOGRAPHIC CHANGE
PHARMACEUTICAL INGREDIENTS
Diagnostics and therapies
New therapies Considerable
are increasingly individualised
mainly focused on rare, increase in chronic diseases
– impact of gene based
chronic or genetic diseases due to an ageing population
medical knowledge
Expected market growth of Specialty Pharma in Europe by 2020: ~ 10% p.a.*
*Source: IMS Health, forecast for growth 2015 – 2020 for Spain, Italy, France, UK and Germany
7
Market positioning
Medios is a highly specialised partner for Specialty
Pharma Drugs across Germany
STRONG PARTNER NETWORK ACROSS GERMANY INDICATION SPECIFIC PARTNERS
Around 200 specialized
partners nationwide (as of Nov 2019)
Coverage of the entire
Specialty Pharma market:
various indications
BENEFITS FOR PARTNERS
Attractive purchasing and
payment conditions
Optimized purchasing management:
planning and bundling
of our partners needs
Infectious Diseases
Oncology
Other
Ensuring delivery capability
Autoimmune
8
Market positioning
Pharmaceutical Supply: ‘Classic’ trading structure of full-
range wholesale
Pharmaceutical Company 1 Pharmaceutical Company 2 Pharmaceutical Company 3
Standard condition agreements on the entire range of products
of the respective manufacturer – approx. 100,000 products
9
Market positioning
Pharmaceutical Supply: Medios’ innovative trading structure
Pharmaceutical Company 2 Pharmaceutical Company 3
Pharmaceutical Company 1
Individual conditions agreement at individual product level
max. 1,000 specialty pharma drugs
10Market positioning
Pharmaceutical Supply: Medios is highly focused and highly
efficient
PHARMACIES DISTRIBUTION
PRODUCT RANGE MARKET POTENTIAL
IN GERMANY SYSTEM
Full Range Wholesaler
Medios
19,500 100,000 20 EUR
39.4 bn
31.8%
EUR
12.5 bn
~5% 1% 5%
1,000 1
1,000
All Highly Full Specialty Regional Central Rx-Drugs Specialty
specialised assortment Pharma warehouses warehouse Pharma
Pharmacies of Drugs Drugs Drugs
11Market positioning
Patient-specific Manufacturing: Medios is the only player
at scale covering a broad range of indications
Patient-specific medication process in Germany Strongly positioned in patient-specific medication
DOCTOR
• Order received at the pharmacy
PHARMACY
• Validation of the prescription
• Order placed at Medios
• Additional confirmation of the • Nationwide supply with individualised application
prescription ready infusions for various indication areas
• Manufacture of the medical preparation in (e.g. oncology, neurology, gastroenterology)
accordance with GMP
• Production complies with highest quality
PHARMACY standard GMP
• Fast delivery to the doctor – • Approx. 90,000 preparations in 2019
invoice to the insurer
DOCTOR • 10 workstations at two production sites in Berlin
• Timely administration of the prescription • Cost & process synergies with segment
‘Pharmaceutical Supply’
12Market positioning
Medios is strongly positioned in the competitive environment
• Full-line wholesalers (approx. 100,000 products) • Mainly regional focus
• Primarily a logistics partner not a consulting partner • Primarily manufacturers,
• Mandatory legal inventory range not consulting partners
of 14 days • Limited range
• Intransparent discount structures
more than 200
pharmacies
with clean room
laboratory
• Limited capacity
• Limited range • No GMP certification
• Focus on niche segments and special processes • Less cost effective manufacturing
Diagram is an example / Source: ABDA * Pharmacies with approved clean room laboratory
13Key Financials
Proven financial track record with strong profitable growth
Medios Group IFRS 2015* 2016* 2017*² 2018*² 2019E*²
Pharmaceutical Supply 1
* 500-510
CAGR %
Patient–specific Manufacturing 4 .3
53.5-5 328
12%
254
17%
160
90 25% 88%
38% 83%
75%
Revenue in EUR m 62%
Pharmaceutical Supply * 1
CAGR % 15.0-16.0
4 .6
Patient–specific Manufacturing 52.1-5 11.0
8.0
24%
18%
5.8
2.8 37%
82% 76%
65%
63%
Adj. EBT in EUR m 35%
Adj. EBT Margin 3.1% 3.6% 3.2% 3.4% 3.3-3.6%
*2015 and 2016 pro-forma; *1CAGR = Compound Annual Growth Rate; *2Adjusted for extraordinary expenses e.g. stock options
14Growth strategy
We have an organic growth strategy in place to be the leading
provider of Specialty Pharma solutions in Germany
Grow customer Extend product Expand into Utilize existing Expand existing
base and partner range and Analytics capacities production
network expand capacities
to further
indication areas
• Currently • Currently • Introduce and • Increase in • Currently
more than more than roll-out margins due 90,000
200 pharmacies 400 specialty innovative to significant individualised
covered pharma drugs NIR* economies of therapies
offered spectroscopy scale
• Cover 300 • Possibility to
pharmacies • Extend analytics expand
mid-term offering to service capacity to up
1,000 • Set up third to 200,000
• Cover 1,000
specialty business individualised
pharmacies pharma drugs
long-term segment therapies
“Analytics”
Medios Group Analytics Patient-specific Manufacturing *NIR – Near-infrared
15Growth strategy
Patient-specific Manufacturing: Utilise existing and expand
capacities; Scalability of production capacity at existing sites
(10 workstations)
NUMBER OF PATIENT-SPECIFIC PREPARATIONS
Max. potential
2017 2018 2019 2020 at existing sites
CAPE
X
EUR 0 max:
.5–0.7
m
* 36%
CAGR
200,000
40,000 60,000 90,000 100,000
Increase in margins due to significant economies of scale
*CAGR – Compound Annual Growth Rate
16Research & development
Drug Safety: Traditional drug testing
EXTRACTION OF SAMPLE ANALYSIS CERTIFICATION PROCESS
• Hours to days until result • Release and certification
• Rubber seal of vial is
of incoming drug material
perforated • Incoming drug in quarantine or rejection
• Drug no longer sterile and • No batch release until • Complete disposal of
therefore useless sucessful test result available test sample
17Research & development
Drug Safety: Innovative NIR* Spectroscopy
MEASUREMENT DATABASE CERTIFICATE
• Alignment with Medios
• Measurement by individual Database
non-destructive method • Medios allowed to issue
• Increase in validity based
certificates for third parties as
Analytical results available on continuously growing
• proof of authenticity
within less than 3 minutes database (intelligent cloud
system)
* Near-infrared
1819
20
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