MedinCell (MEDCL) Jefferies London Healthcare Conference 2025 summary

Strategic overview and technology

• Entering a transformative period with a focus on growth and innovation.

• BEPO technology enables differentiated long-acting injectables, outperforming major competitors.

• Bepostar, a new BEPO generation, extends patent life to 2040 and beyond.

• Active scouting for complementary technologies, aiming for a balance of in-house and external innovation.

UZEDY performance and market dynamics

• UZEDY, a long-acting risperidone, generated $170M in 2024 sales and is approved for schizophrenia and bipolar I.

• Differentiators include subcutaneous delivery, rapid therapeutic levels, no titration, and flexible dosing.

• Adoption is driven by ease of use, safety, and support for earlier use in treatment guidelines.

• Q3 sales impacted by a one-time Medicaid adjustment; 2024 guidance remains $190M–$200M.

• Royalties are mid to high single digits, with $105M in commercial milestones.

Pipeline and upcoming milestones

• mdc-TJK (long-acting olanzapine) targets a multi-billion dollar market, addressing safety issues of prior products.

• Over 4,000 injections in trials showed no PDSS, potentially removing restrictive monitoring.

• Teva plans to launch olanzapine LAI in the US and Europe.

• mdc-CWM (intra-articular celecoxib) showed promise in subgroups; next phase 3 planned for 2026.

• Collaboration with AbbVie covers six programs, with the first candidate in preclinical and phase 1 expected in 2026.