Amicus Therapeutics (FOLD) Goldman Sachs 45th Annual Global Healthcare Conference summary

Business overview and commercial strategy

• Focused on rare disease therapies with two core commercial products: Galafold and Pombiliti/Opfolda.

• Galafold continues strong growth, with raised guidance to 13%-17% year-on-year.

• Pombiliti/Opfolda expected to generate $62M-$67M in global sales, contributing to 25%-30% top-line growth.

• Both products have $1B peak sales potential, underpinned by a strong financial profile.

• 2024 marks the first full year of non-GAAP profitability.

Financial guidance and operational investments

• Projected 2024 revenue of $500M-$520M, up from $399M in 2023.

• Non-GAAP expenses guided at $345M-$365M, with 30% allocated to R&D.

• Continued investment in registry commitments and pediatric studies for potential label expansion.

• Bringing a second WuXi facility online to support manufacturing.

• Achieving scale with Galafold enables profitability, with added leverage from Pombiliti/Opfolda.

R&D and future growth levers

• Near-term focus on executing current launches and expanding into new countries.

• Exploring opportunities for business development within 12-18 months to accelerate growth.

• Early-stage programs in development, with potential to build a pipeline as free cash flow increases.

• Considering acquisition of earlier-stage assets when self-funded by operating profits.