MedRx : FY2022Business Highlight & Financial Results

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MEDRx (TSE:4586)

FY2022 Business Highlight &

Financial Results

February 28, 2023

These materials are distributed directly by MEDRx Co., Ltd. and are available only through direct distribution. MEDRx retains all copyrights to these materials. These materials may not be copied or reused in any other way, electronically or mechanically, for any purpose without prior consent. Moreover, these materials were prepared based on the plans of MEDRx at the time of disclosure. Actual results may differ from the statements in these materials.

Three Core Transdermal Drug Delivery Platforms

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Ionic Liquid	Nano-sizedColloid	Microneedle
Transdermal System	Transdermal System	(MN)

These materials are distributed directly by MEDRx Co., Ltd. and are available only through direct distribution. MEDRx retains all copyrights to these materials. These materials may not be

copied or reused in any other way, electronically or mechanically, for any purpose without prior consent. Moreover, these materials were preparedCo, ltdbased. All rightson thereservedplans of MEDRx at the time 2of disclosure. Actual results may differ from the statements in these materials.

Pipeline : "Primary Target is US market"

Product name

Drug Formulation

Pre

Ph-Ⅰ

Ph-Ⅱ

Ph-Ⅲ

NDA

Launch

Development Code

Development

Clinical

CPN-101(MRX-4TZT)

Worldwide licensing agreement (except for

East Asia) with Cipla USA Inc.

Spasticity

Phase 1b has got successful result.

(Tizanidine, transdermal, ILTS®)

Phase 2 to be prepared

MRX-5LBT "Lydolyte"

Receipt of Complete Response Letter

Neuropathic Pain

Completion of additional study

(Lidocaine, topical, ILTS®)

Expected to get NDA approval in 2023

MRX-9FLT

Fast Track designation

Moderate-Severe Pain

Clinical Study on-going

(Fentanyl, transdermal, ILTS®)

MRX-7MLL

Alzheimer's Disease

IND acceptance

(Memantine, transdermal, NCTS®)

MRX-6LDT

Chronic Pain

(Diclofenac-lidocaine, ILTS®)

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Why USA market First?

• USA accounts for more than 40% of the global pharmaceutical market and has been maintaining a high growth rate in recent years.

【Sales Share in 2021】Total Drug Sales: $1,286,900M（Data by IQVIA）

USA 44.7%

EU 5 Countries

16.1%

China 9.2%

Japan

6.1%

Emerging

Countries米国

11.2%

40.8%

Others 12.7%

【Compound Annual Growth Rate from 2017 to 2021】

USA 6.2%, EU 5 Countries 7.1%, China 8.5% and Japan 0.7% (Data by IQVIA)

In particular, regarding new dosage forms that MEDRx mainly develops (e.g. oral form to topical/transdermal delivery system), MEDRx believes that

The higher values added by new dosage forms, such as the increase efficacy, the decrease side effects and the improvements of QOL and convenience, easily reflect to Drug Prices.

• On the other hand, it is likely difficult to reflect the additional values of new dosage forms in prices compared to the US market as there are financial constraints in Japan and Europe, where public insurance and public funds cover the majority of medical costs and public drug prices are set. The drug price of new dosage forms trends to be set as the similar price with the previous dosage forms.

This document is distributed only by the way provided directly by MEDRx Co., Ltd. Please use only those who are provided. All rights to any part of this material belong to MEDRx, so please do not

reproduce it for any purpose without permission, whether electronically or mechanically. In addition, this document was prepared based on the current internal plan and is subject to change in the future.

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FY2022 Business Highlight (1)

＜CPN-101（MRX-4TZT）＞

• Phase 2 study in preparation
• Cipla and Medrx under discussion regarding the future plan of clinical development

＜MRX-5LBT "Lydolyte"＞

• Agreement with USFDA regarding the detail of the additional study and Successful Completion of the additional study
• Plan to refile in 1H 2023 and get NDA approval in 2H 2023

＜MRX-9FLT "Lydolyte"＞

• Fast Track designation granted by the USFDA
• • MRX-9FLT'scapability of preventing accidental use
• Clinical study on-going

These materials are distributed directly by MEDRx Co., Ltd. and are available only through direct distribution. MEDRx retains all copyrights to these materials. These materials may not be copied or reused in any other way, electronically or mechanically, for any purpose without prior consent. Moreover, these materials were prepared based on the plans of MEDRx at the time of disclosure. Actual results may differ from the statements in these materials.