GUERBET: Guerbet: 2023 Strategic Priorities

2023 Strategic Priorities

• Diagnostic Imaging: increase Elucirem^TM sales and strengthen international positions
• Interventional Imaging: prioritise Lipiodol sales with the development of innovative indications
• Artificial Intelligence: execution of the roadmap for the emergence of a major AI player dedicated to medical imaging in oncology
  
  
  

Villepinte, 16 January 2023: Guerbet (FR0000032526 GBT), a global specialist in contrast agents and solutions for medical imaging has announced its strategic priorities for 2023 in a complex international environment characterised by persistent inflationary pressures and the revelation of new business opportunities for products listed in developing markets.

For several quarters, the Group has operated in an environment marked by a favorable trend in the contrast agent market, where structural volume growth seems to be accompanied by positive price effects over time, particularly in the face of difficult purchasing conditions (notably for iodine).

In this demanding yet promising context, Guerbet intends to capitalise on its core target activities and established positions, allocate its resources to developing recognised products adapted to the immediate needs of professionals, and mobilising its teams around three main ambitions:

Diagnostic Imaging: strategic reinforcement

In this market where Guerbet generates nearly 90% of its revenue, 2023 will mark an important milestone with the market release in the United States of the first batches of the brand new Elucirem^TM, which is attracting strong interest from the scientific community and ordering parties. In Europe, the European Medicines Agency (EMA) review is expected in the second half of the year. In addition to Elucirm^TM, the Group intends to strengthen its solid positions in diagnostic imaging (world's number 2 in the MRI, number 4 in X-Rays) by supporting customer needs as close as possible with its comprehensive, interconnected offering, including contrast agents, injection systems, and digital solutions.

Interventional Imaging: resources allocated to the growth of established products

• Commercial development and expansion of applications of Lipiodol

Established for 40 years as a standard in the treatment of liver cancer, Lipiodol also has a strong foothold in other areas - including vascular embolization, lymphography, and hysterosalpingography (HSG) - which now account for a significant portion of sales volumes and future growth. The potential for development of new innovative indications appears to be significant, particularly in the treatment of musculoskeletal disorders, venous diseases, and post-surgery and cancer disorders. Research and development efforts will thus be accelerated in order to explore new applications for Lipiodol.

• Microcatheter activity divestment plan

In connection with the evolution of its strategy aimed at leveraging key assets, Guerbet is planning the gradual divestment of its microcatheter activities historically housed within Accurate Medical Therapeutics. Since its acquisition in 2018, the microcatheters portfolio has been significantly expanded, now containing 38 references across the two SeQure® and DraKon microcatheter ranges for peripheral embolization procedures. This activity has is not significant revenue contributor at the Group level and currently requires specialised, reinforced sales teams and significant investments to achieve its full commercial potential. These necessities are no longer in line with the Group's development strategy.
Guerbet also plans to divest the Occlugel technology acquired in 2018, including several ranges of microspheres for use in embolization.

Artificial Intelligence: acceleration of the roadmap

Following the termination of its collaboration with Merative (formerly IBM Watson Health) announced in October 2022, Guerbet has regained all the necessary latitude to roll out the commercial strategy while maintaining full ownership of the developed assets (application software source codes and algorithms) and their intellectual property. Very promising results were already obtained in 2022 in the detection of liver damage and prostate cancer. The commercial development of the solutions will benefit from the licensing agreement expected to be signed in the first half of 2023 with Intrasense following Guerbet's acquisition of a stake in the company announced on 11 January. Guerbet ultimately aims to enable the development of a major player in artificial intelligence applied to medical imaging in oncology.

Upcoming events:

Publication of 2022 full-year revenue
February 9, 2023, after trading

About Guerbet
At Guerbet, we build lasting relationships so that we enable people to live better. That is our purpose. We are a global leader in medical imaging, offering a comprehensive range of pharmaceutical products, medical devices, and digital and AI solutions for diagnostic and interventional imaging. As pioneers in contrast products for 95 years, with more than 2,600 employees worldwide, we continuously innovate and devote 8%-10% of our revenue to research and development in five centers in France, Israel, and the United States. Guerbet (GBT) is listed on Euronext Paris (segment B?-?mid caps) and generated €732 million in revenue in 2021. For more information, please visit www.guerbet.com.

About Gadopiclenol

Gadopiclenol, initially invented by Guerbet with subsequent contribution of Bracco intellectual property, is a new macrocyclic gadolinium-based contrast agent (GBCA) with high relaxivity. The efficacy and safety of Gadopiclenol have been evaluated in MRI of the Central Nervous System, head and neck, thorax, abdomen, pelvis and musculoskeletal system (refer to the approved USPI for full information).

Details on Phase III clinical trials are available on www.ClinicalTrials.gov :

• Efficacy and Safety of Gadopiclenol for Central Nervous System (CNS) Magnetic Resonance Imaging (MRI) Full Text View - ClinicalTrials.gov

• Efficacy and Safety of Gadopiclenol for Body Magnetic Resonance Imaging (MRI) - Full Text View - ClinicalTrials.gov

Gadopiclenol is currently in the process of examination by the European Medicines Agency.

Forward-looking statements

This press release may contain statements of a forward-looking nature, based on assumptions and predictions made by the management of the Guerbet group. Various known and unknown risks, uncertainties and other factors could lead to marked differences between the future results, financial situation, development and performances of the company, and the estimates made here. These factors include those mentioned in the public reports of Guerbet, available on its website www.guerbet.com.The company assumes no responsibility whatsoever in relation to the updating of these forward-looking statements, or how they correspond to future events or developments.

Contacts:

Guerbet
Jérôme Estampes, Chief Financial Officer +33.1.45.91.50.00 / [e-mail]
Claire Lauvernier, Communications Director +33.6.79.52.11.88 / [e-mail]

Actifin
Marianne Py, Financial Communications + 33.1.56.88.11.25 / [e-mail]
Jennifer Jullia, Press +33.1.56.88.11.19 / [e-mail]

Attachment

• Press Release - Accurate-2023_01_16