Aqua Pharmaceuticals Nonconfidential June 2011 Slideshare
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Aqua Pharmaceuticals, LLC
Corporate Presentation
June 2011
AQUA PHARMACEUTICALS, LLC 1
Company Overview
Specialty dermatology pharmaceutical company currently focusing on acquiring, developing and marketing prescription medical dermatology products Founded in 2004
Focus on under or non-promoted, branded dermatology drugs in US Market
Commercial infrastructure with track record of success
Stable and growing base business with high margins and strong cash flows
Sales coverage in all major, high-value targets
RoundTable made a controlling investment in June 2010
AQUA PHARMACEUTICALS, LLC 2
Strength in Management
Jay Gooding, Co-Founder, Chief Executive Officer
26 years in Dermatology
Stiefel Laboratories – Sales, Training & Management
Healthpoint – Manager of Marketing & Product Development
Bioglan – Vice President of Marketing & Managed Care, Officer
Craig Ballaron, Co-Founder, President, Treasurer and Secretary
26 years in Senior Management
Ultra Precision – President
Bioglan - Senior Vice President, Sales & Finance / CFO
David H. Crean, Vice President, Corporate Development
18 Years in Specialty Pharmaceuticals
Allergan, Inc. – Business Development for Dermatology, Neurology and Ophthalmology
Allergan, Inc. – Project and Portfolio Management, Research & Development
Ted W. White, Vice-President, Sales
+19 Years in Sales & Marketing Leadership
Novartis – Managing Director – Primary Care, US Group Practice, Cardiovascular
Skip Williams, Vice-President, Product Development
19 Years in Specialty Pharmaceuticals
Watson Pharmaceuticals – Business Development – Nephrology, Dermatology, Biologics
Accenture, System Software Associates, and Lexis-Nexis
Kimberley Forbes-McKean, Vice-President, Research & Development
+20 Years in Specialty Pharmaceuticals
Dermik / Sanofi-Aventis- Global Development
Cutanea Life Sciences and Isolagen, Inc.- CSO/ CTO, Development
AQUA PHARMACEUTICALS, LLC 3
RoundTable provides the experience, know how and capital to consummate a transaction
Invested over $250 million in capital over the past year
$1.9 billion in private equity buyout funds
• Fund I - $400 million private equity buyout fund raised in March 2002
• Fund II - $500 million private equity buyout fund raised in March 2005
• Capital Fund - $200 million subordinated debt investment fund raised in July 2006
• Fund III - $600 million private equity buyout fund raised in July 2010
• Capital Fund II - $200 million subordinated debt investment fund raised in July 2010
AQUA PHARMACEUTICALS, LLC 4
RoundTable Healthcare Partners
Dermatology Sector
• Dermatology represents one of the largest global markets for healthcare
– $14B+ market (2009) with 5% CAGR
– Highly diverse sector with overlapping segments (therapeutic, aesthetic, skin care)
• Market served by multiple, global, US and EU players of varying sizes, with some recent consolidation
– Big pharma- Sanofi, J&J, GSK, Roche, Bayer
– Large specialty- Nycomed, Galderma, Valeant, Allergan, Medicis
– Independents- Graceway, Obagi, SkinMedica, Triax, many others
• Fragmented nature of market comprised of numerous dispersed specialty pharmaceuticals presenting attractive consolidation opportunity
– Significant potential to exploit synergies acrss products, distribution, sales and marketing infrastructures
– Historically not a focus area for large pharma due to sub threshold blockbuster indications (i.e., low hanging fruit)
AQUA PHARMACEUTICALS 5
……….Supported by Macro and Clinical Growth Drivers
• Widespread need with 1 out of every 3 people suffering from a dermatologic condition
• Increasing demand from aging populations treating accumulated dermatological conditions and co-morbidities
• Overlapping drug development opportunities across other therapeutic categories
• Major physician preference driven by life cycle management, product bundling, repeat aesthetic procedures
• Aesthetics resilience to macro economic trends: out of pocket payments, not subject to Medicare/ Healthcare reform
Growth Drivers
Attractive Macro Characteristics
Source: 2011 BMO Capital Markets
Fragmented Market in U.S.
AQUA PHARMACEUTICALS 6
2010 IMS Health, Dermatology All Topical, Tetracycline Antibiotics , Isotretinoins
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US Dermatology Top 30 Players
Aqua has leading branded prescription drugs in four therapeutic
categories including acne, steroid-responsive dermatoses,
seborrheic dermatitis and actinic keratosis
Acne market represents largest segment of overall dermatology market
• Sales of prescription and over-the-counter acne medications generate
approximately $5 billion annually
• 15-20% of all consultations in dermatology related to acne
Topical corticosteroid market is estimated at $500+ million
• Indications include atopic dermatitis, contact dermatitis and psoriasis
Seborrheic dermatitis market
• Affects 1-3% of the immunocompetent adults
• 1.3MM uses in 2010 (OTC, Rx)
AK market (actinic keratoses) pre-cancer skin condition: estimated 10
million people affected in the U.S.
• Estimated that 10% of AK advances to a cancerous state
• Favorable market dynamics with aging population
Dermatology Segments
AQUA PHARMACEUTICALS, LLC 7
Marketed Products
AQUA PHARMACEUTICALS, LLC 8
Acne
Steroid-responsive
Dermatoses
Actinic
Keratoses
Addressable Market Product
Seborrheic
dermatitis
Monodox
Active
Doxycycline,
Oral
Cordran Flurandrenolide,
topical
Ketoconazole,
topical
Xolegel
5-Fluorouracil,
topical
Fluoroplex
Corporate Growth Strategy
Value creation is fueled through three-pronged approach
AQUA PHARMACEUTICALS, LLC 9
Organic Growth
Product Development
Corporate & Business Development
• Maximize Current Products Growth and Profit
• Acquire Companies and new products to expand product mix and core competencies
• Facilitate long term growth through R&D Pipeline and Product Development
Gro
win
g o
rgan
izat
ion
al
cap
abili
tie
s
Positioned for Future Growth
Key Success Factors: Strategy, People and Execution
What’s in our Sweet Spot?
AQUA PHARMACEUTICALS, LLC 11
• Dermatology assets for North America (US & Canada)
Therapeutic, Aesthetic, Physician Dispensed, OTC
• No DESI products
• Brands, not generics
• Marketed assets with revenue and development stage assets for
longer term growth
• Open to Corporate M&A to add greater capabilities
• drug (505(b)(1), 505(b)(2) or device (PMA, 510K)
• Assets with patents or market/ regulatory exclusivity
Aqua is looking for assets to add to its existing portfolio
• Avoid capital equipment or “box plug-in” technology
For corporate and business development opportunities, please contact:
David H. Crean
VP, Corporate Development
Aqua Pharmaceuticals, LLC
158 West Gay Street
Suite 310
West Chester, PA 19380
610-644-7000
www.aquapharm.com
davidcrean@aquapharm.com
AQUA PHARMACEUTICALS, LLC 12
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