Corpor porate ate Pr Presen esentation tation Proactive Pr active Investor vestors 24 J Januar ary y 2019 Peter Butterfield Chief Executive Officer
Overview About out Alliance liance Ph Pharma arma Corporate Presentation – Proactive Investors 24 January 2019 3
Allianc iance e Pharma rma An eme mergi ging ng intern ernati ationa onal l healthca thcare e bu busi sines ness, s, po poise sed d fo for fu further er gr growth We are an alliance built for modern business. An inter-connected network of people and brands. Overview A global range of products delivering outstanding value. Many partners working together; one team, achieving more. Headquartered in the UK, with Operating a proven ‘Buy and Build’ strategy: Owns or licenses the rights to > 90 affiliate offices in Europe, the Far pharmaceutical & consumer East and the US healthcare products Wide international reach Growth through acquisition Organic growth Limited number of promoted, through an extensive Selective approach Through our ‘International Star brands’ network of distributors Facilitated by strong cash International Star Supported by a diversified Sales in >100 countries generation brands portfolio of cash-generative Significant M&A and Local brands integration expertise >35 deals in 20 years Corporate Presentation – Proactive Investors 24 January 2019 4
Allianc iance e Pharma rma Ou Our visi sion n and mi d miss ssio ion Our vision: We have built a successful To be a leading business with a strong Overview international healthcare collaborative culture. Our mission: business built around To create partnerships products which are We recognise that our that unlock potential for clinically valuable relevance and value is in how brands, businesses and to patients. we work together; colleagues, people around the world partners and customers alike, We will be both the partner and employer we demonstrate an of choice entrepreneurial spirit and work together to achieve more. Corporate Presentation – Proactive Investors 24 January 2019 5
Allianc iance e Pharma rma Geogr graph aphic ical l pr prese senc nce e and d infr frast astruc ructur ure 2 Offices in nine countries 3 1 5 Broad international base of distributors 4 6 Overview 7 30% International Revenue by 22% Mainland Europe geography 47% UK & ROI (H1 2018) 10 8 International offices UK - Chippenham 1 UK - Chester 2 9 Dublin 3 Paris 4 Dusseldorf 5 Milan 6 7 Madrid 8 Shanghai 9 Singapore 10 North Carolina Team Countries Offices People Distributor relationships 1 >100 10 >200 6 Corporate Presentation – Proactive Investors 24 January 2019
3 year fi financ ncial ial su summ mmary 31 31 31 Dec Dec Dec 2018 Pre-close trading update: Year ended 2015 2016 2017 £m £m £m Revenue* £124.0m Revenue 48.3 97.5 101.6 Financial summary +22% Operating profit before non-underlying items 10.6 25.6 25.8 Free cash flow £16.1m Exceptional operating items 6.3 - 4.4 (2017: £22.0m)** Net debt Operating profit after exceptional items 17.0 25.6 30.2 £85.8m (30 Jun 2018: £86.3m) Profit before tax before non-underlying items 8.9 22.2 24.0 Leverage at 2.33x Profit before tax after non-underlying items 15.2 22.2 28.4 Adjusted net debt to EBITDA ratio Our 2018 preliminary results announcement is due on 26 March 2019 * ‘see through’ revenue – including underlying sales from Nizoral ** restated following the adoption of IFRS 16 Corporate Presentation – Proactive Investors 24 January 2019 7
Allianc iance e Pharma rma Growth h throug ugh h acq cqusi sition ion 35 deals in 20 years One or more deals every year since 2006 Diclectin UK £1.5m Mix of International Star and Local brands Strong financial discipline; mostly cash-funded Vamousse Nizoral Acquisitions £9.7 – Three larger strategic deals requiring equity raise Sinclair (APAC) 13.1m £127.5m £60.3m Rizuderm Ametop +5 products Sinopharm £5.6m £1.4m £2.4m Diclectin 2018 Lypsyl EU Opus £1.9m £1.0m Quinoderm £8m MacuShield Ceanel £ 10.8m £1.5m Irenat 2017 (Germany) Syntometrine Anti- (excl. UK) Anbesol Buccastem Cambridge malarials £7.5m Ashton & Timodine £16.4m £4.2m Parsons 2016 £7.5m £2.26m 2015 2014 2013 2012 2011 2009 2010 Corporate Presentation – Proactive Investors 24 January 2019 8
Allianc iance e Pharma rma Orga Or ganic c gr growth: : unde derpi rpinne nned d by by eff ffect ctive ive po portfo folio io opt ptimi misa satio tion International Stars – a select group of global growth brands Local brands Kelo-cote Treatment of Hypertropic/Keloid scars Sold in a limited number of local markets Organic growth Nizoral Medicated anti-dandruff shampoo Require little or no promotional MacuShield Eye supplement investment Vamousse Treatment for head lice Mix of prescription and consumer Xonvea Prescription medicine for the treatment of nausea products and vomiting of pregnancy (NVP), where Highly cash generative conservative management has failed Proportion of revenue from 2018 37% International Star brands Revenue by 63% Local brands International Star brands is brand expected to increase further in FY19 & beyond Corporate Presentation – Proactive Investors 24 January 2019 9
Interna natio tional nal Star br brands ds Continui inuing ng the dr drive e fo for gr growth Kelo-cote MacuShield Vamousse Nizoral brands International Star £22.5m £7.0m £5.8m £10.9m 2018 sales: 2018 sales: 2018 sales: 2018 sales (H2 ): Sales at acquisition Sales at acquisition Sales at acquisition Sales at acquisition £3.5m £7.7m £4.8m £18.5m (2015): (2015): (2017): (2018): Medicated anti-dandruff UK’s most recommended 2018 performance in line with Excellent performance in 2018, ▪ ▪ ▪ ▪ shampoo acquired from supplement by eye experts expectations; marketing particularly in Asia Pacifc and Johnson & Johnson (J&J) in June investment planned to benefit mainland Europe Domestic growth from key high ▪ 2018 from key ‘back to school’ period street and online retailers Continued growth through ▪ in H2 maintaining the level of 2018 performance in line with ▪ Launches planned in a number ▪ expectations Global marketing strategy being marketing support ▪ of additional markets in 2019- developed 2 year transitional services 2020 to drive further sales Lead corporate sponsor of G- ▪ ▪ agreement - J&J continue to Assessing prospects for longer Scars Society promoting best growth ▪ operate the business & remit net term growth through our EU practice in scar management Further range enhancement ▪ profit to Alliance until marketing affiliates and global distributor globally underway authorisations transfer network 68% 6% 16% REVENUE GROWTH REVENUE GROWTH REVENUE GROWTH ACQUIRED JUNE 2018 (2018) (2018) (2018) Corporate Presentation – Proactive Investors 24 January 2019 10
Xonve vea UK launch ch - 2 Oc Octobe ber 2018 Xonvea, a prescription Market access team engaged with NHS payers and medicine for the treatment budget holders; feedback to date has been positive in Xonvea Product focus - of nausea and vomiting of terms of their appetite to add the product to formularies pregnancy (NVP), where Sales team build and training completed Attendance at key scientific congresses ongoing, several conservative management with symposia and speakers, providing reach to all has failed, was launched in relevant healthcare professionals – GPs, Obstetricians, the UK on 2 October 2018 Midwives, Pharmacists and Payers Pan-European product for nausea and vomiting of pregnancy (NVP), in- Well established licensed from Duchesnay Inc, Canada Over 40 years use in Canada / 33m women Approved by the FDA in the US (DICLEGIS) in 2013 – sales $200m+ pa Real unmet need Up to 80% of pregnant women suffer from NVP Approved by the UK regulators in July 2018 33,000 hospitalisations a year due to NVP UK launch on 2 October 2018 Only licensed treatment for NVP in the UK EU submissions to follow with first launches expected in late 2019 Corporate Presentation – Proactive Investors 24 January 2019 11
Loca cal br brands ds Limi mited ted or no pr promo motio ional nal requ quir irement ement; ; go good d ca cash sh ge genera ratio tion Examples of some of our local brands: Local brands Aloclair Local brands Treatment for mouth ulcers Local brands ~90 products sold in a limited number of local markets Flamma Franchise majority require little or no promotional Prevention & treatment of investment infections in burns and wounds small number of locally promoted brands mix of consumer healthcare & prescription brands Hydromol All our local brands provide good cash generation Emollient range for for the business dry skin conditions Key component of our buy and build strategy Revenues broadly stable over time Ashton & Parsons Reliance on this part of the portfolio is decreasing Teething powder as revenues from high growth International Star brands increase to form a larger part of our portfolio Average GM% ~51% (H1 2018) Corporate Presentation – Proactive Investors 24 January 2019 12
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