Almirall JP Morgan 2025.pdf

1、J.P.Morgan Healthcare Conference 2025European Medical Dermatology Leader43rd Annual J.P.Morgan Healthcare ConferenceJanuary 20251J.P.Morgan Healthcare Conference 2025This document has been prepared by Almirall,S.A.(the“Company”)exclusively for use duringthe presentation.This document includes onlysu

2、mmary information and does not intend to becomprehensive.Thisdocumentmay notbedisclosed or published or used by any person orentity for any reason without the prior,expresswritten consent of the Company.Information in this document about the price atwhich securities issued by the Company havebeenpur

3、chasedorsoldinthepast,orinformation about the yield on securities issuedby the Company,cannot be relied upon as aguidetothefutureperformanceoftheCompanys securities.Forwardlookinginformation,opinionsandstatements contained herein are based on theCompanys estimates(using assumptions thatthe Company b

4、elieves to be reasonable)and onsources believed to be reliable by the Company,buthavenotbeenverifiedby independentexperts.The Company does not warrant thecompleteness,timeliness or accuracy of anysuch information,opinions and statements,and,accordingly,no reliance should be placed onthem in this con

5、nection.Certain statements contained herein that are nothistorical facts are forward-looking statements.Such forward-looking statements are based oncurrentexpectationsandprojectionsaboutfuture events and are subject to various risksand uncertainties,many of which are difficult topredict and are beyo

6、nd the control of theCompany.Therefore,actual results may differmaterially from those discussed in,or impliedby,such forward-looking statements.Except tothe extent required by the applicable law,theCompany expressly disclaims any obligation toreviseorupdateanyforward-lookingstatements,the expectatio

7、ns of the Company,the conditions or circumstances on which theforward-looking statements are based,or anyother information or data included herein.This document does not constitute an offer orinvitation to acquire or subscribe for securities,inaccordancewiththeprovisionsoftherestatedtextoftheSecurit

8、iesMarketActapproved by the Spanish Law 6/2023 of March17,onSecuritiesMarketsandInvestmentServices.Furthermore,this document does notconstitute a purchase,sale or swap offer,nor arequest for a purchase,sale or swap offer forsecurities,or a request for any vote or approvalin any other jurisdiction.J.

9、P.Morgan Healthcare Conference 2024Disclaimer2IndexJ.P.Morgan Healthcare Conference 20243Ebglyss&Atopic DermatitisIlumetri&PsoriasisR&D roadmap in the next 3 yearsOur growth opportunity in DermatologyOur growth opportunity in DermatologyJ.P.Morgan Healthcare Conference 20244J.P.Morgan Healthcare Con

10、ference 2025Almirall today:a European research-focused medical dermatology leaderPartner of choice for dermatologists and patients with a broad and innovative portfolio.Long term vision with a focus on sustained growth.Proven track record of commercial execution,with six successful launches of inter

11、nal&external assets in the past 7 years*.Strong R&D capabilities covering the whole value chain&promising pipeline assets with disruptive potential.Solid base business and exciting growth engine.We are a global biopharmaceutical company,with a leadership position in Europe,dedicated to medical derma

12、tology,advancing skin science,and transforming patients lives.*(Skilarence,Ilumetri,Seysara,Klisyri,Wynzoraand Ebglyss).US:United States of America,EU:Europe,RoW:Rest of the World.111.0 MM894.5 MM465.2 MMR&D spendingNet SalesNet Sales in DermatologyHeadquartered inBarcelonaOffices around the worldTo

13、tal EmployeesCountries presence151,904102FY 2023 data14351 Number of productsDermatology products5J.P.Morgan Healthcare Conference 2025Other derma*6Atopic dermatitisPsoriasis34.328.81.51.61.61.71.71.850.62.02.53.13.84.65.46.1202420252026202720282029203046.254.859.263.267.771.114.727.917.429.11.819.7

14、30.421.832.023.833.226.634.0Global net sales,$B*+7.5%*CARG.Source:Evaluate Pharmas sales by indication.Accessed December 5,0 2024.*“Other”include alopecia,onychomycosis,basal cell carcinoma,rosacea,actinic keratosis,vitiligo and epidermolysis bullosa.CAGRAcne/RosaceaOur products in these categoriesM

15、edical Dermatology:remains a highly attractive marketAlmirall well positioned to capture growthJ.P.Morgan Healthcare Conference 20257*Psoriasis:moderate to severe adults,Ilumetri.*Atopic Dermatitis:moderate to severe adults 12y,Ebglyss.Entering an era of accelerating growth and margin expansionLeade

16、rship in Medical Dermatology:Delivering in biologicsIlumetri(PsO*)&Ebglyss(AD*)becoming key first-line products formoderate to severe patientsAccelerating growth Trajectory of sales&margin expansion from2025 followinginvestments in launchesShaping the futureAttractive pipeline with disruptive innova

17、tion:4 programs in Phase 1,1 bispecific Ab in preclinical development and multiple assets in early discovery stageJ.P.Morgan Healthcare Conference 2025EBITDA Margin by 2028 25%Double-digit net sales CAGR 2023-20308Mid-term guidance:Turning point with additional net sales growth driven by biologicsEB

18、ITDA Margin by 2028 25%Double-digit net sales CAGR 2023-2030Ebglyss&Atopic DermatitisJ.P.Morgan Healthcare Conference 20249J.P.Morgan Healthcare Conference 2025Patient numbers treated with advanced therapies predicted to grow 4-5x by 2031Ebglyss:Significant opportunity in moderate-to-severe AD10Derm

19、atology:Novel MoAs drive higher biologics penetration.201820192020202120222023201820233,81381,9222018-2023 patients under advanced therapy treatment in EU5*c.5.1 MMModerate to severe patientsc.3.9 MMModerate to severe patients under treatmentc.400 KModerate to severe patients under treatment with ad

20、vanced therapies2031 Atopic dermatitis market in EU5*CAGR+85%*Patients treated with advanced therapies(Adtralza,Cibinqo,Dupixent,Ebglyss,Olumiant,Rinvoq)in EU5(Germany,France,UK,Italy&Spain),2018 data includes only Germany.Source:IQVIA.*Atopic Dermatitis/Atopic Eczema in EU5(Germany,France,UK,Italy&

21、Spain)Disease Landscape&Forecast,DRG Dec 2023.launchJ.P.Morgan Healthcare Conference 2025Growing body of evidence of Ebglyssas first-line treatmentLebrikizumab*250 mg 16 week responder population.EASI=Eczema Area and Severity Index;EASI-90=at least a 90%improvement from baseline in EASI;IGA=Investig

22、ators Global Assessment;IGA(0,1)=IGA response of clear or almost clear;Q2W=every 2 weeks;Q4W=every 4 weeks.*Lebrikizumab in licensed from Dermira/Eli Lilly.Ebglyss:Sustained disease control for at least 3 years*11Q4WQ2WIGA(0,1)and 2-point improvement84%83%EASI-9087%79%Did not require high potency TC

23、S or systemic treatment83%91%*Source:Efficacy and safety of lebrikizumab is maintained up to 3 years in patients with moderate-to-severe atopic dermatitis:ADvocate 1 and ADvocate 2 to ADjoin long-term extension trial.Thai D,et al.Presented at EADV 2024;Abstract#7829.ADvocate 1&2 Adjoin 3-year mainte

24、nance dataJ.P.Morgan Healthcare Conference 2025DECZUKDKESNO NLFLSEFRITBEPTPLIESKHUATCHEbglyss:Commercial excellence in launch executionsGaining strong foothold in AD market:over 20 million in sales*since launch in December 2023.Best launch in Atopic Dermatitis market*in Germany since Dupixent.Strong

25、 commercial capabilities in biologics building on Ilumetricommercial success.Dec232024Progressing market rollout across Europe202512*Ebglyss net sales up to September 2024.*Source:Almirall estimations based on IQVIA data.Brand awareness higher than average*across markets,one year after launch.J.P.Mo

26、rgan Healthcare Conference 2025Atopic DermatitisADlongLong-term safety up to 5 yearsADvantage extensionLong-term benefit in Cyclosporine non-responder or ineligibleADhope-124-week effectiveness and safetyADhope-2Atopic DermatitisADorable-116-week efficacy and safety in pediatric patientsADorable-252

27、-week long-term safety in pediatric patientsADjoin extension3-year long-term safety and Q8WADaptEffectiveness in dupilumab experienced*ADmirableEffectiveness in skin of color*PARPREPARED-1Efficacy and safety in adults with perennial allergic rhinitisCSRwNPCONTRAST-NPEfficacy&safety in adults with ch

28、ronic rhinosinusitis and nasal polyps treated with intranasal corticosteroids13IndicationNameObjectiveCollaborative clinical programme to give more patients access and grow product valueEbglyss:Ongoing Collaborative Clinical Development Programme*Week 16 ADmirable results and week 24 ADapt results p

29、resented by Lilly at the Fall Clinical Dermatology Conference.Atopic DermatitisADlongLong-term safety up to 5 yearsADvantage extensionLong-term benefit in Cyclosporine non-responder or ineligibleADhope-124-week effectiveness and safetyADhope-2Atopic DermatitisADorable-116-week efficacy and safety in

30、 pediatric patientsADorable-252-week long-term safety in pediatric patientsADjoin100-week long term safety and efficacyADaptEffectiveness in dupilumab experienced*ADmirableEffectiveness in skin of color*PARPREPARED-1Efficacy and safety in adults with perennial allergic rhinitisCSRwNPCONTRAST-NPEffic

31、acy&safety in adults and adolescents with chronic rhinosinusitis and nasal polyps treated with intranasal corticosteroidsIlumetri&PsoriasisJ.P.Morgan Healthcare Conference 202414J.P.Morgan Healthcare Conference 2025205ktreated50ktreated106ktreated20ktreated2005201020152020Years relative to launch7xP

32、soriasis365Ktreated2024YEAR 0YEAR 5YEAR 10YEAR 15MoA+IL-12/23TNF+PDE4+IL-17+IL-23+TYK2Psoriasis:Continuous growth of biologics driven by novel therapies and patient demographicsSource:Almirall estimations based on IQVIA data,Dec 2024.Advanced Therapy Patients.Biologics&Advanced Systemics(EUROPE)15J.

33、P.Morgan Healthcare Conference 2025The new 200mg dosage:a unique advantage offers dermatologists flexibility to adapt treatment pattern and continue treating patients with Ilumetri.Patient-centric approach:facilitates flexibility with an advanced treatment for moderate to severe psoriasis.POSITIVE s

34、tudy*:at 52 weeks,Ilumetridemonstrated that it is a treatment capable of restoring well-being to the level of the average population,key to alleviating the psychosocial burden of the disease.Ilumetriis Almiralls best-selling product(c.153 MM in 9M 2024)-continued growth trajectory16*Compared to the

35、general population-as early as Week 16 post treatment and maintained for up to 1 year.Ilumetri:Strong&differentiated attributes for continued growthJ.P.Morgan Healthcare Conference 202517Sustained high growth:Driven by Ilumetri&Ebglyss*Upgrading Ilumetri peak sales to+300MM.*2023 FY Net sales.+Key D

36、ermatology areas outlookNEW Peak Sales in Biologics 800MM combinedAtopic dermatitis peak sales 450MM EbglyssPsoriasis peak sales 300MM*IlumetriPotential to increase biologics sales by 5x from 2023 to 2030 Biologics salesc.167MM*2030High double-digit growth in biologic salesCAGR 2023-2030202020212022

37、20232024R&D roadmap in the next 3 yearsJ.P.Morgan Healthcare Conference 202418J.P.Morgan Healthcare Conference 2025Pipeline focus:Delivering future value by disruptive innovation19IMID:Immune-mediated Inflammatory Diseases,NMSC:Non-Melanoma Skin Cancer,SMOL:Small Molecules,PROTAC:PROteolysis TArgeti

38、ng Chimeras.NMEs4 programs in Phase I with 4 PoC studies planned to start in the next 15 monthsBispecific antibody in preclinical developmentMultiple early discovery programs covering a broad range of skin diseasesRanging across modalities from mRNA/LNP,SMOL,PROTACs,antibodies,bispecific antibodies

39、and other advanced therapiesInnovation coming from in-house discovery and in-licensing opportunitiesPreclinicalDevelopmentPhase IDiscovery(Advanced)All potential first-in-class or best-in-classPROTAC oralAtopic dermatitisSMOL oralAtopic dermatitisSMOL oralInflammatory skin diseasemRNA/LNPNMSCBispeci

40、fic antibodyAtopic dermatitisReadthrough inducer(ALM24412)RDEB/JEBIL-2muFc fusinprotein(ALM223)Inflammatory skin diseaseAnti-IL-1-RAP mAb(ALM27134)Hidradenitis suppurativaAnti-IL-21 mAb(ALM401)Inflammatory skin diseaseJ.P.Morgan Healthcare Conference 2025mRNA:messenger RiboNucleic Acid,SMOL:Small Mo

41、lecules,LNP:Lipid nanoparticles,PROTAC:PROteolysis TArgeting Chimeras.mRNA/LNP/mRNA/LNP-based therapies for serious skin conditionsSmall Molecules /Multi target research partnership/SMOL capabilities/PROTAC drugsBiologics&bispecific/Generative AI/Human therapeutic antibodies/Bispecific antibodiesAdd

42、ressing highly relevant disease targets with the most suitable modality to establish a highly innovative&diverse pipelineJ.P.Morgan Healthcare Conference 2025Focus on the right marketEntering an era of accelerating growthWe built a robust platform to capture growthConclusion:Leading in dermatology i

43、n the next decade&beyond21For further information,please contact:Pablo Divasson del FraileSenior Director of Investor Relations Tel.+34 610 546 Thank you.Or visit our website:AnnexJ.P.Morgan Healthcare Conference 202423J.P.Morgan Healthcare Conference 2025PsoriasisAtopic dermatitisOther dermaAcne/RosaceaBiologic growth driversOther growth driversPsoriasis24Growth drivers:Fast growing therapies in key dermatological areasLeading products with rapid growthPositioning Almirall as partner of choice for dermatologists.