Merrill Lynch Pharmaceutical, Biotechnology & Medical Device Conference New York, February 4, 2004

Transcription

1 Merrill Lynch Pharmaceutical, Biotechnology & Medical Device Conference New York, February 4, 2004

2 Disclaimer 2 This presentation contains forward-looking statements, i.e., current estimates or expectations of future events or future results. The forward-looking statements appearing in this presentation include market sales projections for Pantoprazole, estimates for the achievement of certain milestones in the development, including the filing for marketing approvals, of ALTANA s pharmaceuticals Alvesco and Daxas as well as revenue and earnings projections for the ALTANA group and its branches. These statements are based on beliefs of ALTANA s management as well as assumptions made by and information currently available to ALTANA. Many factors that ALTANA is unable to predict with accuracy could cause ALTANA s actual results, performance or achievements to be materially different from those that may be expressed or implied by such forward-looking statements. These factors include the future development of currency exchange rates as well as ALTANA s ability to develop and launch new and innovative pharmaceutical and chemical products, price regulations for pharmaceuticals and budgeting decisions of local governments and health care providers, the level of ALTANA s investment in pharmaceuticals related R&D, the sales and marketing methods used by ALTANA to distribute its pharmaceuticals, the composition of ALTANA s pharmaceuticals portfolio, ALTANA s ability to maintain close ties with its chemicals customers, the business cycles experienced by ALTANA s chemicals customers and the prices of the raw materials used in ALTANA s chemicals business. Forward-looking statements speak only as of the date they are made. ALTANA does not intend, and does not assume any obligation, to update forward-looking statements to reflect facts, circumstances or events that have occurred or changed after such statements have been made.

3 ALTANA 3 ALTANA AG Bad Homburg, Germany Founded ,400 employees >30 countries ALT (FSE), AAA (NYSE) 49.9% Freefloat ALTANA Pharma AG ALTANA Chemie AG An international Pharmaceuticals and Specialty Chemicals group

4 Highlights ALTANA Group: New record year Sales climb to 2.7 bn (+5%), operating +12% EBT to grow by around 10% ALTANA Pharma Double-digit increase in core business Therapeutics Pantoprazole continues to drive growth ALTANA Chemie Robust performance in weak markets Profitability remains on high level 2003: Provisional data, unaudited

5 ALTANA Group Key Figures 5 ( m) % Sales 2,734 2,609 5 operating sales growth 12 Capital expenditure Research expenditure Employees 10,386 9,853 5 USA: 28% Germany: 17% Long-term growth trend continues 2003: Provisional data, unaudited 1) Capital expenditure on property, plant and equipment and intangible assets

6 Sales Analysis m 2,609 Operating Growth +12% Currency Effect -6% Acquis./Divest. Effect -1% m 2, Group + 5% ALTANA Pharma + 6% ALTANA Chemie + 1% 1,861 1, : Provisional data, unaudited

7 ALTANA Group Sales by Region 7 ( m) % Europe 1,385 1,324 5 thereof Germany % 7% 2% North America thereof USA Latin America USA 28% Germany 18% 51% Asia % Other Regions ALTANA 2,734 2, % international business 2003: Provisional data, unaudited

8 ALTANA 8 ALTANA AG ALTANA Pharma AG ALTANA Chemie AG

9 ALTANA Pharma Strategy 9 Focus on innovative therapeutics Focus on relevant markets - Europe, USA, Japan - Strategic partnering is key Focus on well-defined, selected R&D areas - Gastrointestinal, Respiratory, Oncological Diseases - High R&D investment and internationalization of R&D Concentrate efforts in products, markets, R&D

10 ALTANA Pharma Highlights Impressive operating sales growth Pantoprazole: excellent dynamic growth and market share gains Extension of Pantoprazole patent in the USA until July 2010 Co-promotion of Protonix in the USA since July 2003 Excellent Daxas (Roflumilast) results from RECORD study Alvesco (Ciclesonide) FDA-Submission in December 2003 New production plant in Ireland New medical chemistry labs in India

11 ALTANA Pharma Key Figures 11 ( m) % Sales 1,979 1,861 6 operating sales growth 15 Capital expenditure Research expenditure Germany: 17% Employees 7,702 7,504 3 Steady growth continued 2003: Provisional data, unaudited 1) Capital expenditure on property, plant and equipment and intangible assets

12 ALTANA Pharma Sales by Region 12 ( m) % Europe thereof Germany % 3% North America thereof USA Latin America Other Regions % USA: 32% Germany: 19% 49% ALTANA Pharma 1,979 1,861 6 German sales affected by mandatory rebate 2003: Provisional data, unaudited

13 ALTANA Pharma Sales by Business Unit 13 ( m) % Therapeutics 1,725 1, OTC Imaging Other Total 1,979 1, % 5% 3% 87% Further expansion of strategic core business 2003: Provisional data, unaudited

14 Gastrointestinal Franchise 14 Pantoprazole (PANTOZOL, Protonix ) (PPI launched in more than 90 countries) Soraprazan (Acid Pump Antagonist in Phase IIb)

15 Pantoprazole WW Total Market Sales 2, % 15 ( m) 2,000 2,007 1,500 1,326 1, Sustained growth dynamics 2003: Provisional data, unaudited

16 Pantoprazole WW Sales by Region , % Total market sales: 1,200 1, % 2003: 2,350 m 2002: 2,007 m 800 ( m) % % + 19% -12% + 8% 0 Germany Europe w/o Germany USA Canada Latin America Other Regions , , : Provisional data, unaudited

17 Pantoprazole USA (Protonix ) New Record Market Shares 17 NRx (share %) TRx (share %) Dec 06, 02 Jan 16, 04 Dec 06, 02 Jan 16, 04 Protonix Aciphex Prevacid Prilosec Ome Gen Nexium AstraZeneca Protonix is the clear winner of market shares and absolute prescriptions Source: IMS Health

18 Pantoprazole USA (Protonix ) TRx Development 35% 30% 25% 20% 15% 10% 5% 0% Source: IMS Health Protonix Prilosec Ome Gx Prevacid Aciphex Nexium 18 10/4/02 11/4/02 12/4/02 1/4/03 2/4/03 3/4/03 4/4/03 5/4/03 6/4/03 7/4/03 8/4/03 9/4/03 10/4/03 11/4/03 12/4/03 1/4/04 Market entry of Generic Omeprazole Market entry of OTC Omeprazole

19 Pantoprazole USA (Protonix ) PPI Prescription Volume Total Prescriptions (x1000) Protonix + 44% Aciphex + 11% Prevacid - 1% Nexium + 39% Total Ome 42% 18/10/02 18/11/02 18/12/02 18/1/03 18/2/03 18/3/03 18/4/03 18/5/03 18/6/03 18/7/03 18/8/03 18/9/03 18/10/03 18/11/03 18/12/03 18/1/04 Prilosec 84% Prilosec Ome Gx Nexium Prevacid Aciphex Protonix Protonix unaffected by generic omeprazole Source: IMS Health data, Oct 18, 2002 Jan. 16, 2004

20 Pantoprazole USA (Protonix ) No impact of Generic and OTC Omeprazole 20 Protonix reached new records: TRx has moved well beyond 300,000 TRx/week; NRx share reached 21.5%.* Most of generic Omeprazole gains have come directly from the branded product (Prilosec ). Protonix is unaffected. Total Rx PPI market is affected by launch of Prilosec-OTC, but due to losses in Rx Omeprazole.* There is no impact of Prilosec-OTC on Protonix. The Panto Story goes on! * Source: IMS Health, January 16, 2004

21 Respiratory Franchise 21 Two late-phase candidates: Alvesco (Ciclesonide) Daxas (Roflumilast) Opening new pathways

22 Respiratory Franchise Alvesco 22 Ciclesonide is an inhaled corticosteroid developed for the treatment of asthma Potent anti-inflammatory drug Long duration of action: once-daily dosing Excellent efficacy Optimized ratio of efficacy to side effects - low number of local side effects - less systemic effects, e.g. suppression of endogenous cortisol levels

23 Respiratory Franchise Alvesco 23 Project status (MDI): EU: Phase III Filing submitted to the MHRA (May 2002) > 4,200 patients treated with Alvesco (incl. comparator data) U.S.: JPN: Phase III Filing submitted by Aventis (December 2003; incl. pediatric) Phase III Filing submitted by Teijin in January 2004 Ongoing projects: - Dry Powder Inhaler (DPI) Phase I - Nasal spray Phase II - Fixed combination with long acting beta-agonist Phase I/II

24 Respiratory Franchise Daxas 24 Roflumilast is a selective PDE4-inhibitor in development for the treatment of COPD and asthma Roflumilast is the first PDE4-inhibitor to show proof of concept in both COPD and asthma Inflammatory Target Cells Roflumilast is an anti-inflammatory, steroid-free treatment for COPD and asthma ( controller ) Roflumilast is an oral (tablet), once-daily medication Eosinophils Neutrophils

25 Respiratory Franchise Daxas 25 Project status: EU: U.S.: JPN: Phase III for COPD and asthma > 2,500 patients in asthma (incl. comparator data) > 2,800 patients in COPD Submission to EMEA in February 2004 Phase III for COPD and asthma Filing targeted for end of 2004 Phase I for COPD and asthma

26 Outlook 26 ALTANA Group Further growth in sales and profits Investments in the future as basis for long-term growth 8th dividend increase targeted ALTANA Pharma Continued growth of Pantoprazole Late-phase product candidates advance ALTANA Chemie Well-positioned due to balanced and broad coverage of markets, strong market positions and consistent focus on value-added speciality business Sustained growth impetus from Additives business Positive business development continues

27 ALTANA Financial Calendar March 18: Report on FY 2003 Press Conference Analyst Meeting April 29: Report on Q Conference Call May 5: Annual General Meeting August 3: Report on Q Press Conference Conference Call November 4: Report on Q Press Conference Analyst Meeting Kindly note that the above mentioned dates might be subject to change.

28 ALTANA Contact 28 ALTANA AG Investor Relations Dr. Thomas Gauly Sandra Fabian / Dr. Harald F. Schäfer Herbert-Quandt-Haus Am Pilgerrain Bad Homburg v.d. H. Germany P +49 (0) F +49 (0) IR@altana.de IR-Contact U.S.: Claudia Diller (IR-Assistant) Corporate Office New York 712 Fifth Avenue New York, NY USA P F