WELCOME TO ACTELION S AGM 2015 08 May 2015 Copyright 2015 Actelion Pharmaceuticals Ltd
ACTELION S ANNUAL GENERAL MEETING 2015 MEETING STRUCTURE Opening Remarks Business Review 2014 Agenda & Proposals Jean-Pierre Garnier, Chairman of the Board Jean-Paul Clozel, Chief Executive Officer André Muller, Chief Financial Officer Jean-Pierre Garnier, Chairman of the Board Marian Borovsky, Secretary of the Board of Directors 2 2015 Actelion Pharmaceuticals Ltd 08 May 2015
FORMAL DECLARATIONS REGARDING THE CONSTITUTION OF THE MEETING 3 2015 Actelion Pharmaceuticals Ltd 08 May 2015
IHR epad / YOUR epad Ja Oui Yes Enthaltung Abstention Abstention Nein Non No 4 2015 Actelion Pharmaceuticals Ltd 08 May 2015
FORMAL DECLARATIONS REGARDING THE CONSTITUTION OF THE MEETING 5 2015 Actelion Pharmaceuticals Ltd 08 May 2015
OPENING REMARKS BY THE CHAIRMAN OF THE BOARD Jean-Pierre Garnier 6 2015 Actelion Pharmaceuticals Ltd 08 May 2015
ACTELION SHARE PRICE PERFORMANCE Selexipag results Share price development +53% in 2014 SNB announcement AGM 2014 ACTELION SWISS SMI Jan-14 Apr-14 Jul-14 Oct-14 Jan-15 Apr-15 7 2015 Actelion Pharmaceuticals Ltd 08 May 2015
DELIVERING ON OUR STRATEGY CREATES VALUE > CHF 1 BILLION RETURNED TO SHAREHOLDERS OVER 3 YEARS SHARE PRICE PERFORMANCE DIVIDEND PAYMENT 0.8 1.0 1.2 2012 2013 2014 8 2015 Actelion Pharmaceuticals Ltd 08 May 2015
CONTINUED CASH RETURNED TO SHAREHOLDERS 2015 INITIATIVES New second-line share repurchase: up to 10 million shares within 3 years Increased dividend: Board proposal CHF 1.30 per share 9 2015 Actelion Pharmaceuticals Ltd 08 May 2015
OPENING REMARKS BY THE CHAIRMAN OF THE BOARD Jean-Pierre Garnier 10 2015 Actelion Pharmaceuticals Ltd 08 May 2015
OUTSTANDING PERFORMANCE IN 2014 Jean-Paul Clozel, CEO 11 2015 Actelion Pharmaceuticals Ltd 08 May 2015
OUR STRATEGIC PRIORITIES STAY THE SAME ACHIEVEMENTS 2014: WE ARE ON TRACK SUSTAIN AND GROW THE PAH FRANCHISE BUILD ADDITIONAL SPECIALTY FRANCHISES OPTIMIZE PROFITABILITY 12 2015 Actelion Pharmaceuticals Ltd 08 May 2015
OUR STRATEGIC PRIORITIES STAY THE SAME ACHIEVEMENTS 2014: WE ARE ON TRACK SUSTAIN AND GROW THE PAH FRANCHISE BUILD ADDITIONAL SPECIALTY FRANCHISES OPTIMIZE PROFITABILITY 13 2015 Actelion Pharmaceuticals Ltd 08 May 2015
OPSUMIT ENGINE OF TRANSFORMATION Opsumit (macitentan) is an orally available endothelin receptor antagonist (ERA) approved for the treatment of PAH in over 30 countries, including the United States in October 2013 and the European Union in December 2013 14 2015 Actelion Pharmaceuticals Ltd 08 May 2015
OPEN THE PROSTACYCLIN PATHWAY TO MORE PATIENTS Selexipag (Uptravi) is an investigational drug submitted to health authorities but not approved for use 15 2015 Actelion Pharmaceuticals Ltd 08 May 2015
UNIQUELY POSITIONED TO SERVE PAH COVERING CONTINUUM OF CARE WITH OUTCOME-BASED MEDICINES FC II FC III FC IV * Selexipag (Uptravi) is an investigational drug submitted to health authorities but not approved for use. 16 2015 Actelion Pharmaceuticals Ltd 08 May 2015
OUR CARDIOVASCULAR PIPELINE PROMISING PROJECTS TO DELIVER FUTURE SUCCESS Selexipag PAH Macitentan Eisenmenger syndrome Macitentan CTEPH Macitentan CpcPH Selexipag Raynaud s 2 o to SSc New Chemical Entity Cardiovascular disorders Phase I Phase II Phase III Filing 17 2015 Actelion Pharmaceuticals Ltd 08 May 2015
OUR STRATEGIC PRIORITIES STAY THE SAME ACHIEVEMENTS 2014: WE ARE ON TRACK SUSTAIN AND GROW THE PAH FRANCHISE BUILD ADDITIONAL SPECIALTY FRANCHISES OPTIMIZE PROFITABILITY 18 2015 Actelion Pharmaceuticals Ltd 08 May 2015
SPECIALTY PRODUCT PORTFOLIO 19 2015 Actelion Pharmaceuticals Ltd 08 May 2015
OUR SPECIALTY PIPELINE PROMISING PROJECTS TO DELIVER FUTURE SUCCESS Cadazolid Clostridium difficile assoc. diarrhea Ponesimod Multiple Sclerosis Ponesimod Graft vs. host disease S1P 1 modulator Systemic lupus erythematosus Lucerastat Fabry disease Macitentan Glioblastoma New Chemical Entity Neurological disorders Phase I Phase II Phase III Filing 20 2015 Actelion Pharmaceuticals Ltd 08 May 2015
OUR STRATEGIC PRIORITIES STAY THE SAME ACHIEVEMENTS 2014: WE ARE ON TRACK SUSTAIN AND GROW THE PAH FRANCHISE BUILD ADDITIONAL SPECIALTY FRANCHISES OPTIMIZE PROFITABILITY 21 2015 Actelion Pharmaceuticals Ltd 08 May 2015
OPTIMIZE PROFITABILITY ACHIEVEMENTS 2014 Strong sales performance Good cost control Markedly increased earnings per share Strong balance sheet assuring financial flexibility Total shareholder return of 55% 22 2015 Actelion Pharmaceuticals Ltd 08 May 2015
2015 FOCUS ON EXECUTION MAINTAIN successful Opsumit launch momentum OBTAIN regulatory approval for selexipag (Uptravi) INITIATE and ADVANCE key clinical programs DRIVE shareholder value creation 23 2015 Actelion Pharmaceuticals Ltd 08 May 2015
STRONG FINANCIAL PERFORMANCE IN 2014 André C. Muller, CFO 24 2015 Actelion Pharmaceuticals Ltd 08 May 2015
FULL YEAR 2014 FINANCIAL OVERVIEW Variance FY 2013 FY 2014 CHF CER Product sales CHF million Core earnings CHF million Operating income CHF million Core EPS CHF 1,784 1,956 10% 12% 619 743 20% 25% 482 570 18% 24% 4.41 5.58 27% 33% 25 2015 Actelion Pharmaceuticals Ltd 08 May 2015
FULL YEAR 2014 PRODUCT SALES PRODUCTS SALES GROWTH OF 12%, INTRINSIC GROWTH OF 10% CHF million 181 42 51 1,784 1,956 1,956 FY '13 Sales FY '14 intrinsic sales growth US rebate reversals FX FY'14 Sales 26 2015 Actelion Pharmaceuticals Ltd 08 May 2015
FY 2014: STRONG COMMERCIAL PERFORMANCE TRANSITIONING US + CHF 85 million Europe + CHF 66 million Japan + CHF 16 million RoW +CHF 14 million Opsumit + CHF 175 million Tracleer - CHF 43 million Veletri + CHF 28 million Ventavis + CHF 0.2 million Zavesca + CHF 9 million Others + CHF 12 million Total + CHF 181 million Total + CHF 181 million 27 2015 Actelion Pharmaceuticals Ltd 08 May 2015
FY 2014 CORE EARNINGS CORE EARNINGS UP 25% AT CER CHF million 212 369 1,956 1,375 631 743 2014 Product sales Core COS Core R&D Core SG&A 2014 Core earnings 28 2015 Actelion Pharmaceuticals Ltd 08 May 2015
FY 2014 NET INCOME CHF million 173 33 58 115 743 570 537 479 479 594 FY'14 Core earnings Non-core items FY '14 Operating Income Financial result Income tax expense One time deferred tax benefits FY '14 Net Income 29 2015 Actelion Pharmaceuticals Ltd 08 May 2015
FY 2014 CASH FLOW CHF million 133 616 458 609 546 249 10 878 1,036 1,512 966 1,205 Unrestricted gross cash 31 Dec 13 Operating cash flow (ex litigation) Litigation payment Released restricted cash Dividend 1st line share purchase Proceeds from ESOP Capex, other items Unrestricted gross cash 31 Dec 14 30 2015 Actelion Pharmaceuticals Ltd 08 May 2015
Q1 2015 FINANCIAL OVERVIEW Variance Q1 2014 Q1 2015 CHF CER Product sales CHF million Core earnings CHF million Operating income CHF million Core EPS CHF 469 515 10% 12% 189 218 15% 18% 153 190 24% 28% 1.46 1.61 10% 12% 31 2015 Actelion Pharmaceuticals Ltd 08 May 2015
2015 FINANCIAL GUIDANCE AT CONSTANT EXCHANGE RATES Core earnings growth low double-digit percentage range (excl. 2014 US rebate reversals) 32 2015 Actelion Pharmaceuticals Ltd 08 May 2015
CONCLUDING REMARKS BY THE CHAIRMAN OF THE BOARD 33 2015 Actelion Pharmaceuticals Ltd 08 May 2015