Idorsia (OTCPK:IDRS.F) FY Conference January 14, 2026 01:30 PM ET Company ParticipantsSrishti Gupta - CEOMartine Clozel - Chief Scientific OfficerConference Call ParticipantsNone - AnalystModeratorGood morning, everyone. My name is Farhan Khan, and I'm an associate with the Healthcare Investment Banking Group here at J.P. Morgan. It's my great pleasure today to be introducing Idorsia. Presenting today is Idorsia CEO Srishti Gupta. We also have key members of the leadership team: Arno Groenewoud, CFO, and Ma ...

Two products with blockbuster potential and a pipeline of first- or best-in-class drugs J. P. Morgan Healthcare Conference 2026 – January 2026 Forward-looking statements The information in this presentation contains certain "forward-looking statements", relating to the company's business, which can be identified by the use of forward-looking terminology such as "intend", "estimates", "believes", "expects", "may", "are expected to", "will", "will continue", "should", "would be", "seeks", "pending" or "antici ...

Summary of Viatris Conference Call Company Overview - Viatris operates as three distinct businesses: a global generics company, an established brands company, and an emerging innovative brands platform [2][3] - The company reported $14.1 billion in revenue, $4.1 billion in EBITDA, and $2.2 billion in free cash flow over the last 12 months [2] Key Financial Highlights - Viatris delivered $14.1 billion in revenue and $4.1 billion in EBITDA [2] - Achieved $2.32 in adjusted EBITDA and $2.2 billion in free cash flow [2] - The company operates in 165 countries with 1,400 unique products, serving over 1 billion people annually [3] Strategic Developments - The company advanced its pipeline with five positive phase 3 readouts out of six [4] - Significant progress was made with Cenerimod, Selatogrel, and Lucerastat in their phase 3 programs [4] - Over $1 billion was returned to shareholders through dividends and share buybacks [4] - Conducted 60 regional business development deals to support the base business, particularly in Japan [4][5] Future Outlook - Anticipated high-value product launches in 2026, including Sotagliflozin, Phentolamine, and Effexor GAD [6][7] - The company expects to generate significant cash flow in 2026, with plans for continued shareholder returns and growth asset development [9] - A strategic review is expected to yield substantial savings and reinvestment opportunities [22][24] Market Dynamics - The company is focusing on the U.S. market for high-margin revenue-generating assets, while also revitalizing its portfolio in Japan [36] - The competitive landscape is favorable for acquiring assets in the $500 million-$1 billion revenue range, with less competition for these assets [20][21] Pipeline and Product Development - Positive phase 3 results for Cenerimod and Selatogrel are expected to lead to significant market opportunities [51][60] - Fast-Acting Meloxicam is positioned to address the opioid crisis in pain management, with a strong market potential [43][45] - Selatogrel aims to revolutionize acute myocardial infarction management, with a large patient population and significant unmet need [60][62] Challenges and Risks - Pricing pressures and policy adjustments are anticipated in the JANS business, along with generic competition in Japan [29] - The Indore facility's remediation is nearing completion, with limited expected volatility in 2026 numbers [30][32] Capital Allocation Strategy - The company plans a balanced approach to capital allocation, focusing on shareholder returns and business development [34] - Expected free cash flow of over $2 billion annually for the next five years [33] Conclusion - Viatris is positioned for sustainable growth with a strong pipeline, strategic acquisitions, and a focus on enhancing its core business while navigating market challenges [12][15]

Summary of Viatris Conference Call Company Overview - **Company**: Viatris - **Business Segments**: - Global generics footprint (originating from Mylan) - Established products (notable brands include Lipitor, Norvasc, Xanax, Viagra, Celebrex from Upjohn acquisition) - Growing innovative segment [2][3] Core Points and Arguments - **Strategic Review**: Viatris is undergoing an enterprise-wide strategic review to assess its structure and cost efficiency, aiming for sustainable revenue and earnings growth beyond 2026 [4][20] - **Financial Performance**: - The company has returned over $1 billion to shareholders through dividends and share repurchases this year [3] - Anticipates approximately $500 million in new revenues annually from the base business, with a net growth of around $200 million after accounting for losses and price declines [8] - Internal expectations for revenue growth are higher than market estimates, with a goal to achieve continuous earnings growth over the next three to five years [7][26] - **Operating Leverage**: The company aims to improve operating leverage, targeting a growth profile shift from 1% to 3-5% [9][10] Pipeline and Product Development - **Innovative Assets**: Viatris is focusing on developing innovative products, including fast-acting meloxicam, which shows a faster onset of action compared to competitors [38][39] - **CNS Assets in Japan**: The acquisition of Aculys added CNS assets to Viatris' portfolio, with a strategic focus on growing revenues in the challenging Japanese market [32][34] - **Upcoming Launches**: The company is preparing for the launch of several products, including meloxicam and antiplatelet drugs, with significant market potential [46][63] Market Dynamics and Challenges - **External Challenges**: The company has faced external challenges such as tariffs, policy changes, and FDA regulations, which have impacted operations [2][3] - **Cost Structure Review**: Viatris is reviewing its cost structure post-merger and divestitures, aiming for significant cost savings while ensuring that these savings are sustainable [20][21] Investment and Capital Allocation - **Capital Deployment**: Viatris generates approximately $2 billion in free cash flow annually, with plans to allocate capital evenly between shareholder returns and business development [28][29] - **Focus on High-Margin Assets**: The company is looking to acquire high-margin, revenue-generating assets, particularly in the U.S. and Japan [35] Other Important Insights - **Market Positioning**: Viatris is positioning its innovative products as differentiated solutions in the market, with a focus on addressing unmet medical needs [39][63] - **Long-Term Vision**: The management emphasizes a long-term vision for growth, with a commitment to maintaining a strong base business while investing in innovation [6][26] This summary encapsulates the key points discussed during the Viatris conference call, highlighting the company's strategic direction, financial performance, product pipeline, and market challenges.

Summary of Conference Call Company Overview - The conference was held at the Piper Sandler Healthcare Conference featuring Doretta Mistras (CFO) and Philippe Martin (Chief R&D Officer) of the company [1][2] Capital Deployment Strategy - The company maintains a balanced capital allocation philosophy, aiming for a 50/50 split between capital deployment and capital return over a three to five-year period [2] - In the current year, the focus has been on capital returns, particularly share buybacks, due to operational circumstances and stock price considerations [2] - The company is actively pursuing innovative, branded, patent-protected assets to enhance near-term revenue and EBITDA growth, particularly in the US [3] R&D Focus - The current strategy emphasizes commercial-stage assets, with a focus on late-stage products like Cenerimod and Selatogrel [5] - Cenerimod is undergoing two large Phase III studies for systemic lupus erythematosus (SLE), with OPUS-2 fully enrolled and OPUS-1 expected to follow shortly [7] - The drug is positioned to be used alongside standard treatments without adding safety concerns, targeting a significant unmet need in SLE and lupus nephritis [8][15] Clinical Trials and Market Positioning - The Phase III trials for Cenerimod are designed to account for previous learnings, particularly focusing on patients with high interferon I levels, which showed the greatest treatment effect [9] - The company is optimistic about the potential of Cenerimod in lupus nephritis, having received positive feedback from regulatory bodies [11][12] - Selatogrel's Phase III global program for acute myocardial infarction is progressing well, with nearly 1,000 patients enrolled per month and full enrollment expected by the end of the year [16] Fast-Acting Meloxicam Product - The company is preparing for a pre-NDA meeting with the FDA to discuss filing and potential for accelerated review [20] - The fast-acting meloxicam product targets over 80 million acute pain cases annually, with a focus on outpatient and ambulatory surgical centers [22] - The product aims to provide a non-opioid alternative in a market where over 50% of acute pain cases still rely on opioids [22] Market Differentiation and Pricing Strategy - The company is exploring pricing strategies and market access for the fast-acting meloxicam, aiming for a balance between value proposition and broad patient access [24] - The product is expected to have a minimum of three years of exclusivity through the 505(b)(2) pathway, with ongoing efforts to extend this exclusivity [28] Presbyopia Opportunity - The company sees a significant market opportunity in presbyopia, with over 90% of adults over 45 affected, and aims to differentiate its product through a unique mechanism of action that avoids common side effects associated with other treatments [30][32] Enterprise-Wide Strategic Review - An enterprise-wide strategic review is underway to enhance long-term sustainable revenue and EBITDA growth, focusing on various operational aspects including R&D, manufacturing, and commercial infrastructure [34] Conclusion - The company is strategically positioned to leverage its R&D pipeline and capital deployment strategy to drive growth and address unmet medical needs across various therapeutic areas [34]