Assertio (ASRT) Alliance Global Partners Healthcare Company Showcase summary

Leadership and strategy

• Leadership team has extensive commercial and payer pricing experience, positioning the company for growth across multiple therapeutic areas.

• Focus is on executing a transformation and growth strategy, with a robust commercial capability and omnichannel approach.

• Transformation phase in 2024 centers on simplifying corporate structure and optimizing assets.

• Prioritizing investment in growth assets Rolvedon and Sympazan, while evaluating non-core assets for potential divestiture.

• Reducing legal exposure to free up OpEx for reinvestment and improve EBITDA.

Portfolio and financial performance

• Core growth assets are Rolvedon and Sympazan; mature assets include Indocin, Sprix, Cambia, and Zipsor.

• Rolvedon is the first novel long-acting G-CSF approved in 20 years, targeting a billion-dollar market and gaining share.

• Sympazan addresses a rare seizure disorder with an oral film formulation, aiming for $13 million in sales this year and $20–25 million longer term.

• Q1 net sales reached $26 million, with positive adjusted EBITDA and nearly $90 million in cash.

• 2024 guidance: net sales of $108–123 million and non-GAAP EBITDA of $10–20 million.

Market positioning and growth plans

• Rolvedon represents over half of net sales, with 35–40% share in community oncology clinics and plans to expand into commercial segments.

• Building payer presence, with Cigna coverage added and more expected, supporting further Rolvedon growth in 2026.

• Rolvedon competes in a biosimilar marketplace, with a strategy to manage ASP and contracts, targeting $100 million in annual sales.

• All portfolio products are profitable, but only some are growing; non-core assets may be divested to bolster the balance sheet.

• M&A remains a key strategy, supported by a strong balance sheet and low debt, with active discussions to add new assets.