Specialist
Former President at Endo Pharmaceuticals, Inc
Agenda
- Overview of the speciality pharmaceuticals sector, with a focus on Endo's positioning and market share relative to its competitors
- Discussion on the company's strategy and drug portfolio, with an emphasis on its growth in generics and decline in branded pharmaceuticals
- Outlook for 2017 and beyond, such as opportunities for M&A or the potential sale of units, especially given recent controversy surrounding opioid medications
Questions
1.
I would love your updated perspective on Endo. Any key themes or trends that you find particularly interesting or noteworthy as of late?
2.
On that management note, what are your thoughts on the new team and their ability to handle the current situation?
3.
With all of the pricing pressures that we've seen in the generics space, how do you see Endo's generics segment faring? There are expectations for it to be down 30% in 2017, where do you see that falling by end of 2017?
4.
You had some comments on Vasostrict. What kind of decline would you expect after La Jolla Pharmaceuticals recently publishing their phase three results for LJPC 501?
5.
We’ve seen the FDA calling for Opana to be taken off the market, what's your outlook there? Are other drugs at risk? What can we expect moving forward?
6.
Would you expect volumes to decline, due to a lot of scrutiny behind opioid drugs, and physicians not being as willing to prescribe?
7.
Do you think Percocet has any sort of risk, moving forward?
8.
In looking at their branded drugs, are there any key points that we should be following to get a better feel for where we could see them falling in the short to medium term?
9.
On that Xiaflex note, it doesn't seem to be getting much traction. Is this due to reimbursements, and there not being enough marketing spend behind them?
10.
We've heard a lot about Endo's strategies moving forward, focusing on reducing costs and refining the business model, enhancing their generic pipeline, refocusing on that branded side. We've also seen a significant number of divestitures as of late. What else can they sell? How would you look at their core assets?
11.
We've seen this shift to alternate dosage forms of injectables. We've heard a lot of companies are heading down that path, going after that high margin product. In terms of how generics panned out, do you see, in the near future, a similar dynamic, and it becoming a bit crowded?
12.
Earlier you mentioned the mesh payments and what took place there. What's your confidence level in debts Endo will be able to de-lever with those looming mesh payments?
13.
They've mentioned that they're aiming to launch 20 products over the course of this year. Is this a reasonable goal, or should we expect that to be pulled back a little bit?
14.
On that note, with Zetia and Seroquel XR losing market exclusivity, how confident are you that they will be able to offset those losses as that decline starts to kick in?
15.
You've frequently mentioned the Par acquisition throughout the call. What are your thoughts on that quite high price point? Was it justified? Do you think that everything has been realised from that, is there anything that we're still waiting on?
16.
Looking at their portfolio, where do you see the gaps there? What would make sense from an M&A standpoint, if at all possible?
17.
Are there any catalysts between now and Q1 2018 that we should be really cognisant of, in trying to follow the space?
