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UBS 22 ND ANNUAL GLOBAL HEALTHCARE SERVICES CONFERENCE FEBRUARY 2012. PREMIER global preclinical services provider. World-class preclinical service provider offering unparalleled expertise and expert scientific staff providing services from early discovery to IND filing and beyond
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UBS 22ND ANNUAL GLOBAL HEALTHCARE SERVICES CONFERENCE FEBRUARY 2012
PREMIER global preclinical services provider • World-class preclinical service provider offering unparalleled expertise and expert scientific staff providing services from early discovery to IND filing and beyond • Global operations in North America, Europe and Asia with 750 dedicated staff • Integrated discovery and development capabilities to accelerate compounds to the clinic Asia Europe United States
RICERCA SERVICES CONTINUUM Target Identification HTS (High Throughput Screening) Hit Identification Hit to Lead Lead Optimization (SAR) Preclinical Candidate Selection IND Enabling & Registration Support Studies API & Commercial Scale-Up Clinical Candidate Phase I - III NDA Market Introduction
GLOBAL LOCATIONS Asia North America Europe Lyon, France Concord, Ohio Taipei, Taiwan Bothell, WA
WHAT’S GOING ON IN THE PHARMACEUTICAL INDUSTRY? Internal & External (Licensing) ‘push’ for clinical candidates Unprecedented removal of competent, but costly, drug development infrastructure and people Realization of a ‘data gap’ in early clinical programs from academia and biotechnology sector “Risk Capital” for biotechnology from venture pools evaporated in mid-2008 The bar is set much higher for drug candidate approvals and commercial acceptance
CONSEQUENCES OF INDUSTRY CHANGE • Proliferation of Pharma licensing and M&A deals in biotechnology (PharmAsset, Inhibitex) for early clinical assets • Externalization of research (pre-IND) and development (clinical development) • Data, timelines and quality gaining momentum over cost of outsourcing services (price) that has been severe in 2009-2011 • Global Pharma replacing private venture, but that will change in 2012 with valuation potentials
WHAT DO OUR CLIENTS NEED? • Specific ‘a la carte’ R&D local and global capabilities that translate into trusted, highly reproducible and timely data • Solutions in the form of programs and packages for several steps in drug research-integrated service offerings • Therapeutic expertise • Trust, not promises. A partner, not a marriage
OUTSOURCING RESEARCH INDUSTRY • Pricing pressure and reduced pre clinical development candidates (since 4Q 2008) have resulted in over capacity and loss of scientific talents in CROs • Consolidation: but it has just begun • Rise of China: Fall of China-Rise of Asia • Changing business models • Demands for innovation unclear
RICERCA STRATEGY • Best of “Best in Class” discovery pharmacology a la carte capabilities in Europe, U.S. and Asia (Taiwan) • Integrated IND “packaged solutions” for biotechnology clients and recently global pharmaceutical clients (chemistry, in vivo, in vitro, safety assessment studies) • Client satisfaction • Regulatory (CAPA) compliance • Acquisitive Management Team
DIVERSIFIED CLIENT MIX Top 10 Client Mix
2012 OUTSOURCING MARKET ($20B) Source: Goldman Sachs Investment Research citing CRO Company data, IMS Health, PhRMA, Ernest & Young
CONSISTENT REVENUE GROWTH 44% CAGR
THE RESULTS • Global capabilities in Europe, U.S. and Asia • Leadership in Discovery Pharmacology • Great client mix, distribution of geographies and no single client dependencies • Highest client satisfaction rating, >95% • Growth in revenues and assets • Minimal debt
UBS 22ND ANNUAL GLOBAL HEALTHCARE SERVICES CONFERENCE FEBRUARY 2012