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Think new.Annual Shareholders' Meeting of Biotest AG 7 May 2015Annual Shareholders Meeting of Biotest AG, 7 May 2015

Annual Shareholders' Meeting 2015 1Biotest AG

C t D l t t li b (BT 061)Current Development – tregalizumab (BT-061)

• Initial data from the TREAT 2b studyInitial data from the TREAT 2b study published

• Primary endpoint not met after 12 weeks of treatment12 weeks of treatment

− None of the three tregalizumab dose groups showed significant statistical improvement compared to the placeboimprovement compared to the placebo

− Lack of safety concerns is a positive aspect

• Further, detailed data under analysis

• AbbVie decision on next steps within 90 d90 days

• If development is fully stopped, € 25–30 million burden on profits for 2015

2Biotest AGAnnual Shareholders' Meeting 2015

FY 2014 At l

• New sales record: increase by 16.2% to

FY 2014 – At a glance

New sales record: increase by 16.2% to € 582.0 million

• Operating profit (EBIT) is stable at € 53 4 million despite increased R&D costs€ 53.4 million, despite increased R&D costs and headwind from the US and Russia

• R&D projects proceeded as planned

− Civacir®: phase III− Tregalizumab (BT-061): "Treat 2b"− Indatuximab ravtansine (BT-062):Indatuximab ravtansine (BT 062):

phase II

• "Biotest Next Level" is on course

3Annual Shareholders' Meeting 2015 Biotest AG

Biotest AG in figuresFY 2014 and Q1 2015FY 2014 and Q1 2015


W ld id l thWorldwide sales growth

Sales by region (€ millions)

600 582.0+16.2%

Sales by region (€ millions)

26.9 • Growth in all regions

400

500500.8

Middle East & Africa

Other Asia & Pacific 152.3

120.0

23.6

Growth in all regions

• Strong demand in Asia, increased plasma sales in

300

400North and

South America

108.786.1

pthe US

• Almost 82% of sales achieved

100

200 OtherEurope177.7 188.1

through international markets

0

100

2013 2014

Germany93.4 106.0

2013 2014


St bl EBITStable EBIT despite increased costs for Research & Development and "Biotest Next Level"

70EBIT (€ million)

• Lower sales of Bivigam® in the US

50

60

70-0.7%

53.8 53.4

Lower sales of Bivigam in the US due to strong competition

• Headwind due to political crises and ongoing price pressure

30

40

50 and ongoing price pressure

• Increased costs for R&D due to early production of study material (BT 061 Civacir ®)

20

30 (BT-061, Civacir ®)

• Increased costs as planned for "Biotest Next Level" (BNL)

0

10

FY 2013 FY 20142013 2014

• EBIT margin: 9%


T t l t fl t thTotal assets reflect growth

Financial status of the Biotest Group (€ million)Financial status of the Biotest Group (€ million)at the end of FY 2014

Assets Liabilities

1,000886.5

1,032.6

886.5

1,032.6

353 3

600

800 Current assets

Non-current assets

Current liabilities

480.2

460.7

353.3324.0

400

Non-current liabilities

Equity

301 5679.3562.5 423.5

0

200Equity ratio

at 31 December 2014: 46 5%

124.3

301.5

128.90

7

2013 201446.5%

2013 2014

Annual Shareholders' Meeting 2015 Biotest AG

B i d l t Q1 2015Business development Q1 2015

160

Sales (€ million)• Significant sales increase (16.6%),

120

140

160142.5

122.2

Significant sales increase (16.6%), especially in the US and Germany

• Ongoing price pressure in individual product areas and

80

100

individual product areas and regions

• Increased costs (unabsorbedcosts R&D BNL) lead to an EBIT

40

60costs, R&D, BNL) lead to an EBIT decrease from € 10.7 to 0.1 million

• Guidance 2015 confirmed (subject to tregalizumab burden):

0

20

Q1 / 2014 Q1 / 2015

to tregalizumab burden): sales growth percentage in the lowsingle-digit range;EBIT: ~ € 50 million


Corporate strategy


St t iStrategy overview

• Consistent development of own Research &Consistent development of own Research & Development work

• Focus on marketing and development of biological products in the three indicationbiological products in the three indication areas:

− Haematology− Clinical immunology− Intensive care medicine

• Doubling of capacity by 2020 is proceedingDoubling of capacity by 2020 is proceeding as planned

Target: € 1 billion in sales by 2020


W ld id i l b li k t thWorldwide immunoglobulin market growth

250

s

North America Europe RoW

Expected average growth per year

US Europe Rest of world

150

200

olum

e in to

n

g p y2014 – 2020e

Rest of world 11%

50

100

G m

arket v

o

Europe 4%

US 5%

0

50

2013 2014e 2015e 2016e 2017e 2018e 2019e 2020e

IgG US 5%

Total 6%

• Increase of worldwide demand by around 60 tons by 2020; Biotest is expanding its own production capacities by around 7.5 tons participation in the growth

• Ongoing price pressure in individual product areas and regions international


• Ongoing price pressure in individual product areas and regions international representation of Biotest

"Biotest Ne t Le el""Biotest Next Level":On track in terms of timeline and budget

Biotest planning to double capacity by 2020 as prerequisite for billion in sales

Annual Shareholders' Meeting 2015 Biotest AG 12

"Biotest Ne t Le el""Biotest Next Level":Other projects about to be completed

• Day care centre (July 2015)

• Plasma receipt area and virological testing laboratory ( )(November 2015)


Research and Development


N d t i th i li

Clinical Intensive care

New products in the pipeline

HaematologyClinicalimmunology

Intensive care

medicine

2015 2020

Civacir®

Tregalizumab (BT-061)

IgG Next Generation

Indatuximab ravtansine (BT-062)

IgM Concentrate

Fibrinogen


BT-063

Ci i ® A i i t

• Civacir® is a hyperimmunoglobulin to treat Hepatitis C patients during and immediately

Civacir® – A promising agent

after liver transplantations

• There are 130 to 150 million Hepatitis C patients and approx 10,000 liver transplantations worldwide

• There is currently no standard therapy for preventing re-infection after transplantations

• Civacir® is produced by collecting antibodies from hundreds of plasma donors®• Civacir® binds to the virus and neutralises it

HCV mutation

Civacir® antibody

16

Civacir antibodydiversity

Biotest AG

*HCV = Hepatitis C virus

Annual Shareholders' Meeting 2015

Ci i ® I t i t d ltCivacir® – Interim study results

• Interim results from the phase III study wereInterim results from the phase III study were presented at the 50th International Liver Congress in Vienna (April 2015)

• Results:Results:

− If patients are treated with modern virostatics and without Civacir® prior to the transplantations (control group)the transplantations (control group), approximately 32% of patients are re-infected

− In patients who received Civacir®, there has been only one re-infection to date (5%)

• Final study results expected to be available y pin Q4 2015

• Market launch planned for 2017/2018


I d t i b t i (BT 062)Indatuximab ravtansine (BT-062)

• Antibody Drug Conjugate (ADC), anAntibody Drug Conjugate (ADC), an innovative therapy approach for the treatment of multiple myeloma

• Combination of antibody and cytotoxic agentCombination of antibody and cytotoxic agent targets cancer cells

• Combination of efficacy and tolerability

• Final study data in Q4, decision from ImmunoGen 60 days later

potential milestone payment

• Utilisation of significant, additional potential possible by addressing solid tumours (breast and bladder cancer) with BT-062


Oth i i d l t j tIgM Concentrate• Treatment of community acquired pneumonia

Other promising development projects

• Treatment of community acquired pneumonia• Study results (phase II) expected shortly

IgG Next Generation• New development of Intratect® and Bivigam®

helps patients with immune system dysfunctions.Gl b l k i l d

Fibrinogen• Fibrinogen is for the treatment of acute

• Global marketing planned

ghaemorrhages due to congenital or acquired fibrinogen deficiencies.

BT 063BT-063• Monoclonal antibody for the treatment of the

autoimmune disease Systemic Lupus Erythematosus


Erythematosus

• Phase IIa study submitted to authorities

Bi t t h A lid i t tBiotest shares – A solid investment

• Share split 1:3 proposedShare split 1:3 proposed

− Goal: increase liquidity of the shares

− No dilution of sharesNo dilution of shares

• Controlling and profit/loss contract with Biotest Pharma GmbH

− Increasing synergies

− Tax savings (business and profits)g ( p )

− Lower annual statement costs

• Extension of share buyback• Extension of share buyback


Si th ti di id d i

€

Sixth consecutive dividend increase

0,65

0,70€

• Dividend proposalfor FY 2014:

0,55

0,60 − € 0.60 per ordinary share

− € 0 66 per

0 45

0,50

0,55 € 0.66 per preference share

• Overall distribution:

0,40

0,45 O e a d st but o€ 8.3 million (+5%)

• Distribution ratio: 29%

0,30

0,35

2008 2009 2010 2011 2012 2013 2014*2008 2009 2010 2011 2012 2013 2014

Ordinary share Preference share


Vi i St t i tl kVision – Strategic outlook

• The year 2015 is exciting and decisiveThe year 2015 is exciting and decisive

• Important study data and decisions from collaboration partnersp

• "Biotest Next Level" as basis for considerablegrowth in the plasma protein businessFocus on sales target of € 1 billion by 2020

• Further development projects promise dditi l t ti ladditional potential


Biotest AG

Annual Shareholders' meeting 2015


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