Innoviva (NasdaqGS:INVA) FY Conference Transcript

Innoviva FY Conference Summary Company Overview - Innoviva is focused on maximizing the value of royalty streams from respiratory products developed in collaboration with Glaxo Group Limited (GSK) [2][3] - The company has transitioned to a three-part business structure, emphasizing capital allocation in high unmet medical needs with strong growth potential [3] Key Business Segments 1. Royalty Portfolio - Expected to generate over $1 billion in royalty revenue over the next five years based on analyst consensus [3] - Major products include ANORO® ELLIPTA® and RELVAR®/BREO® ELLIPTA®, which achieved over $2 billion in sales over the last 12 months [6] - Strong intellectual property protection extends revenue longevity into the early 2030s [7] 2. Innoviva Specialty Therapeutics (IST) - Achieved approximately $130 million in sales and license revenue in the last 12 months, growing over 50% year-on-year [4] - The platform includes four marketed products and one late-stage pipeline candidate, with significant growth potential [4][8] - Products like GIAPREZA® and XACDURO® are key revenue drivers, with GIAPREZA® expected to see further growth from potential guideline inclusion [9][10] 3. Strategic Healthcare Investments - Valued at approximately $450 million, focusing on assets with attractive risk-reward profiles [4] Financial Performance - The therapeutics business has nearly tripled since its formation in 2022, with over 50% year-on-year growth in US product sales [5] - The company has consistently beaten analyst expectations, providing a reliable source of cash flows and profitability [5] Growth Drivers - Recent product launches, including ZEVTERA® and the potential approval of zoliflodacin, are expected to drive further revenue growth [5][12] - IST's products are designed to address significant unmet medical needs, particularly in infectious diseases [10][11] Market Positioning - Innoviva is well-positioned to weather market volatility due to its profitability, cash position, and diversified business structure [13] - The company anticipates reaching over $500 million in annual sales in the U.S. from its current portfolio [13] Conclusion - Innoviva is committed to delivering innovation in areas of critical unmet medical need, with a strong focus on growth and profitability [14]