FY2021 Financial Results for the 1st Half

On November 12, 2021 Upsher-Smith Laboratories reported that (Press release, Upsher-Smith Laboratories, NOV 12, 2021, View Source [SID1234595511])

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Japan: Despite the impact of the NHI drug price revision, both sales and core operating income exceeded the same period of the previous fiscal year due to increased sales of products launched in FY2020 and increased demand for Sawai Pharmaceutical products due to the supply stoppages etc. of products from other generics companies.

 United States: Both sales and core operating income decreased from the same period last year, due to the impact of competitor entries into key USL generic product markets

 Sales declined significantly, due to the impact of competitor entries into key USL generic product markets.
 Steady progress in brand products.
 Three products have launched in the first half of FY2021.

Combined performance for Zembrace and Tosymra is ahead of expectations for FY21; Tosymra volumes are in line with plan while Revenue is slightly behind plan due to lower than planned average selling price (ASP)

▍Key Actions to Accelerate Tosymra Growth
Drive improved Average Selling Price (ASP) through improved Prior Authorization (PA) performance (both submission rates and success rates for submitted PAs) and new Platinum Pass business rules

Drive new prescription growth via new Direct-to-Consumer channel partnerships with Cove, an online migraine telemedicine company, and two regional pharmacies to conduct patient consultations on non-oral migraine solutions
(Tosymra)

Engage new managed care partner, Eversana, and leverage real world economic data to influence better coverage from managed care

Continue to drive first fill success through specialty pharmacy channel with Blink Pharmacy

 The business in Japan grew steadily, while the sales in the US fell short of the initial forecast due to a sharp decline
in sales of main generics products.
 On a consolidated basis, both net sales and core operating income slightly exceeded the FY2021 first half forecast.
 Our full-year forecast remains unchanged as the circumstances surrounding the business environment are unclear,
considering shipment adjustments due to the supply stoppages of products from other generics companies etc