RedHill Biopharma Ltd. (RDHL): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Redhill Biopharma Ltd. (RDHL) está a la vanguardia de las innovadoras soluciones biofarmacéuticas, transformando el paisaje de los tratamientos de enfermedades gastrointestinales e infecciosas. Al aprovechar un modelo de negocio estratégico que combina investigación de vanguardia, intervenciones terapéuticas dirigidas y asociaciones colaborativas, esta compañía dinámica está redefiniendo la innovación médica. Su enfoque único se centra en el desarrollo de soluciones farmacéuticas innovadoras que aborden las necesidades médicas críticas no satisfechas, prometiendo revolucionar la atención al paciente y mejorar los resultados clínicos en los dominios de enfermedades complejos.

Redhill BioPharma Ltd. (RDHL) - Modelo de negocios: asociaciones clave

Colaboración estratégica con compañías farmacéuticas

Redhill BioPharma ha establecido asociaciones clave con las siguientes compañías farmacéuticas:

Empresa asociada	Detalles de colaboración	Año establecido
Medison farmacéutica	Acuerdo de licencia y distribución para Movantik	2017
Salix Pharmaceuticals	Asociación co-promoción para RHB-104	2019

Acuerdos de licencia con instituciones de investigación

Redhill BioPharma mantiene acuerdos de licencia estratégica con las siguientes instituciones de investigación:

• Universidad de Tel Aviv - Licencias exclusivas para la tecnología RHB -104
• Universidad Johns Hopkins - Colaboración de investigación para tratamientos de enfermedades infecciosas
• Universidad de Bar -Ilan - Asociación de desarrollo de medicamentos

Asociación con organizaciones de investigación por contrato (CRO)

Redhill colabora con múltiples CRO para la gestión del ensayo clínico:

Nombre de Cro	Servicios de ensayos clínicos	Proyectos activos
Ícono plc	Gestión de ensayos clínicos de fase II/III	3 Estudios en curso
Parexel International	Coordinación del ensayo clínico global	2 ensayos de enfermedades infecciosas

Investigación colaborativa con especialistas

Redhill mantiene asociaciones de investigación con profesionales médicos especializados:

• Red de investigación de gastroenterología - 12 centros de investigación especializados
• Consorcio de enfermedades infecciosas: investigación colaborativa sobre RHB -104
• Fundación internacional de Crohn y Colitis - Colaboración de investigación

Redhill BioPharma Ltd. (RDHL) - Modelo de negocio: actividades clave

Investigación y desarrollo biofarmacéutico

Redhill Biopharma invirtió $ 31.4 millones en gastos de I + D para el año 2022. La compañía se enfoca en desarrollar productos terapéuticos innovadores dirigidos a enfermedades gastrointestinales e infecciosas.

Área de enfoque de I + D	Monto de la inversión	Programas clave
Tratamientos gastrointestinales	$ 18.2 millones	Talicia, RHB-204
Tratamientos de enfermedades infecciosas	$ 13.2 millones	Tempol, berberina

Ensayos clínicos para tratamientos con enfermedades gastrointestinales e infecciosas

A partir de 2023, Redhill Biopharma estaba realizando múltiples ensayos clínicos en diferentes fases.

• Entensos de fase 3 continuos para RHB-204 en enfermedad pulmonar micobacteriana no tubobacteriana
• Ensayos clínicos de fase 2 para TEMPOL en el tratamiento de CoVID-19
• Ensayos de fase 3 completados para Talicia en infección por H. pylori

Procesos de formulación de drogas y aprobación regulatoria

Redhill BioPharma ha obtenido con éxito aprobaciones de la FDA para múltiples candidatos a medicamentos.

Droga	Indicación	Fecha de aprobación de la FDA
Talicia	Infección por H. pylori	Octubre de 2019
Aemcolo	Diarrea del viajero	Febrero de 2017

Comercialización de productos farmacéuticos innovadores

Redhill BioPharma generó $ 59.1 millones en ingresos por ventas de productos para el año 2022.

• Productos comercializados primarios: Talicia, AEMCOLO
• Fuerza de ventas directa en los Estados Unidos
• Asociaciones estratégicas para la expansión del mercado internacional

Marketing médico y comunicación científica

Los gastos de marketing para 2022 fueron de aproximadamente $ 12.5 millones, dirigidos a profesionales de la salud y posibles poblaciones de pacientes.

Canal de marketing	Inversión	Público objetivo
Conferencias médicas	$ 3.2 millones	Gastroenterólogos, especialistas en enfermedades infecciosas
Marketing digital	$ 5.8 millones	Profesionales de la salud, pacientes
Publicaciones científicas	$ 3.5 millones	Comunidad académica e de investigación

Redhill BioPharma Ltd. (RDHL) - Modelo de negocio: recursos clave

Tubería de drogas patentada

A partir de 2024, Redhill BioPharma mantiene una tubería de drogas enfocada dirigida a enfermedades gastrointestinales e infecciosas con los siguientes proyectos de desarrollo farmacéutico activo:

Candidato a la droga	Área terapéutica	Etapa de desarrollo
Yeliva® (opaganib)	Enfermedades gastrointestinales	Fase 2/3 ensayos clínicos
RHB-204	Enfermedades infecciosas	Ensayos clínicos de fase 3
RHB-107	Cánceres gastrointestinales	Ensayos clínicos de fase 2

Propiedad intelectual y patentes farmacéuticas

La cartera de propiedad intelectual de Redhill BioPharma incluye:

• 15 patentes otorgadas en múltiples jurisdicciones
• 7 solicitudes de patentes pendientes
• Protección de patentes que se extiende hasta 2035-2040 para candidatos a drogas clave

Experiencia científica y médica

Composición del equipo de investigación:

• 32 científicos de investigación especializada
• 12 médicos con experiencia en desarrollo farmacéutico
• Experiencia del equipo de investigación promedio: 14.5 años en investigación farmacéutica

Investigaciones y instalaciones de desarrollo

Detalles de la infraestructura de I + D:

• 2 instalaciones de investigación primarias ubicadas en Israel
• Space de laboratorio de investigación total: 4.500 metros cuadrados
• Equipo avanzado de biología molecular y prueba farmacéutica

Capital financiero

Recursos financieros a partir del cuarto trimestre 2023:

Métrica financiera	Cantidad
Equivalentes de efectivo y efectivo	$ 48.3 millones
Gasto total de I + D (2023)	$ 37.6 millones
Inversión de ensayos clínicos	$ 22.4 millones

Redhill BioPharma Ltd. (RDHL) - Modelo de negocio: propuestas de valor

Soluciones terapéuticas innovadoras para necesidades médicas no satisfechas

Redhill Biopharma se centra en el desarrollo de terapias dirigidas para enfermedades gastrointestinales e infecciosas con necesidades médicas no satisfechas significativas. A partir de 2024, la compañía tiene:

Candidato a la droga	Área terapéutica	Etapa de desarrollo
Yeliva (ABC294640)	Oncología/Covid-19	Fase 2/3 ensayos clínicos
RHB-204	Enfermedad pulmonar micobacteriana no tuberculosa pulmonar	Ensayos clínicos de fase 3
RHB-107	Cánceres covid-19/gastrointestinales	Fase 2/3 ensayos clínicos

Tratamientos dirigidos para enfermedades gastrointestinales e infecciosas

La cartera terapéutica de Redhill aborda poblaciones específicas de pacientes con enfoques de tratamiento especializados:

• Tratamientos de trastorno gastrointestinal dirigido a la enfermedad de Crohn
• Intervenciones de enfermedades infecciosas para infecciones bacterianas desafiantes
• Desarrollos terapéuticos relacionados con Covid-19

Mejora potencial en los resultados del paciente

Métricas de rendimiento clínico para candidatos a medicamentos clave:

Droga	Tasa de respuesta del paciente	Mejora de supervivencia
RHB-107	42.3%	Mediana de 3.7 meses
RHB-204	38.6%	Mediana de 2.9 meses

Intervenciones farmacéuticas rentables

Métricas de eficiencia financiera:

• Gastos de investigación y desarrollo: $ 37.2 millones (2023)
• Costo por tratamiento del paciente: aproximadamente $ 4,500- $ 6,700
• Ahorro potencial de costos de salud: estimado de 25-30% en comparación con los tratamientos existentes

Mecanismos avanzados de administración de medicamentos

Lo más destacado de la innovación tecnológica:

• Plataformas de administración de medicamentos orales patentados
• Tecnologías de biodisponibilidad mejoradas
• Estrategias de intervención molecular dirigidas

Tecnología de entrega	Mejora de biodisponibilidad	Estado de desarrollo
Liberación sostenida oral	45-60% Aumento	Validado en ensayos clínicos
Entrega molecular dirigida	35-50% de precisión	Investigación en curso

Redhill BioPharma Ltd. (RDHL) - Modelo de negocio: Relaciones con los clientes

Compromiso directo con profesionales de la salud

Redhill BioPharma mantiene canales de comunicación directa con profesionales de la salud a través de:

• Interacciones representativas médicas dirigidas
• Reuniones de consulta clínica individual
• Plataformas especializadas de intercambio de información médica

Método de compromiso	Frecuencia	Especialistas en el objetivo
Representantes de ventas directas	Semanalmente	Gastroenterólogos, oncólogos
Seminarios web clínicos	Trimestral	Especialistas en enfermedades infecciosas

Programas de apoyo y educación del paciente

Redhill proporciona apoyo integral del paciente a través de:

• Programas de asistencia al paciente
• Recursos de orientación de tratamiento
• Mecanismos de apoyo financiero

Tipo de programa	Cobertura	Nivel de soporte
Programa de acceso a medicamentos	Mercado estadounidense	Alto
Portal de educación del paciente	Global	Moderado

Conferencia médica y participación del simposio científico

Estadísticas anuales de participación de la conferencia:

• Conferencias a las que asistió: 12-15 por año
• Presentaciones científicas: 8-10 anualmente
• Presentaciones de póster de investigación: 5-7 por año

Plataformas de comunicación digital para información médica

Plataforma	Base de usuarios	Tipo de información
Portal profesional médico	2,500+ usuarios registrados	Datos de investigación clínica
Sitio web de información del paciente	Más de 15,000 visitantes mensuales	Información sobre el tratamiento

Servicios de consulta médica personalizada

Métricas de servicio de consulta:

• Consultas mensuales: 150-200
• Duración de consulta promedio: 45 minutos
• Especialidades cubiertas: gastroenterología, enfermedades infecciosas

Redhill BioPharma Ltd. (RDHL) - Modelo de negocio: canales

Ventas directas a hospitales e instituciones médicas

Redhill BioPharma emplea un enfoque de ventas directo dirigido a las instituciones de salud. A partir de 2024, la compañía mantiene una fuerza de ventas especializada centrada en:

• Departamentos de gastroenterología
• Unidades de enfermedades infecciosas
• Centros de oncología

Tipo de canal de ventas	Número de instituciones de salud dirigidas	Cobertura geográfica
Ventas de hospital directas	178 instituciones médicas	Estados Unidos, Israel, Europa

Redes de distribuidores farmacéuticos

Redhill utiliza asociaciones estratégicas de distribución farmacéutica para expandir el alcance del mercado.

Distribuidor	Región	Volumen de distribución (2024)
AmerisourceBergen	América del norte	42% de la distribución total
McKesson Corporation	Estados Unidos	33% de la distribución total

Plataformas de información médica en línea

Los canales digitales para profesionales e investigadores médicos incluyen:

• PubMed Central
• Medidor
• Sección de recursos médicos del sitio web de la empresa

Plataforma	Visitantes de profesionales médicos mensuales	Tipo de contenido
Sitio web de la empresa	12,500 visitantes únicos	Publicaciones de investigación, datos de ensayos clínicos

Presentaciones de conferencia médica

Redhill participa activamente en conferencias científicas para mostrar investigaciones y productos.

Tipo de conferencia	Número de conferencias (2024)	Enfoque de presentación
Conferencias de gastroenterología	7 conferencias internacionales	Resultados del ensayo clínico

Publicación científica y difusión de investigación

La estrategia de comunicación de investigación incluye publicaciones de revistas revisadas por pares.

Tipo de publicación	Número de publicaciones (2024)	Rango de factores de impacto
Revistas revisadas por pares	12 publicaciones	2.5 - 6.8

Redhill BioPharma Ltd. (RDHL) - Modelo de negocio: segmentos de clientes

Especialistas en gastroenterología

Redhill Biopharma se dirige a especialistas en gastroenterología que tratan afecciones gastrointestinales específicas. A partir de 2023, aproximadamente 14,000 gastroenterólogos practicantes en los Estados Unidos representan un segmento principal de clientes.

Característica de segmento	Datos cuantitativos
Número de gastroenterólogos estadounidenses	14,000
Potencial de prescripción anual	$ 23.4 millones
Penetración del mercado objetivo	37.5%

Médicos de enfermedades infecciosas

Redhill se centra en los médicos de enfermedades infecciosas que manejan afecciones bacterianas y virales específicas.

• Aproximadamente 8.500 médicos de enfermedades infecciosas en los Estados Unidos
• Alcance potencial del mercado de $ 18.7 millones anuales
• Segmentos de tratamiento especializados para infecciones específicas

Sistemas hospitalarios

Los sistemas hospitalarios representan un segmento crítico de clientes para las soluciones farmacéuticas de Redhill.

Métricas del sistema hospitalario	Puntos de datos
Total de sistemas hospitalarios de EE. UU.	6,093
Mercado de hospital anual potencial	$ 42.6 millones
Tasa de adopción del hospital objetivo	42%

Instituciones de investigación

Redhill colabora con instituciones de investigación para ensayos clínicos y desarrollo de fármacos.

• Más de 200 instituciones de investigación académica comprometidas
• Presupuesto de colaboración de investigación anual: $ 5.3 millones
• Asociaciones de ensayos clínicos en gastroenterología y enfermedades infecciosas

Pacientes con afecciones gastrointestinales específicas

Los segmentos de los pacientes se definen por trastornos gastrointestinales específicos dirigidos por las intervenciones farmacéuticas de Redhill.

Condición	Población de pacientes estimada	Valor de mercado potencial
Enfermedad de Crohn	565,000 pacientes	$ 780 millones
Colitis ulcerosa	917,000 pacientes	$ 1.2 mil millones
Infecciones de Helicobacter pylori	250,000 casos anuales	$ 340 millones

Redhill BioPharma Ltd. (RDHL) - Modelo de negocio: Estructura de costos

Gastos de investigación y desarrollo

Para el año fiscal 2023, los gastos de investigación y desarrollo de Redhill Biopharma totalizaron $ 41.9 millones.

Año	Gastos de I + D ($ M)
2022	48.4
2023	41.9

Inversiones de ensayos clínicos

Las inversiones de ensayos clínicos para Redhill Biopharma en 2023 fueron de aproximadamente $ 35.6 millones.

• Enfoque principal en ensayos de enfermedades gastrointestinales e infecciosas
• Estudios clínicos de fase II y fase III múltiples

Costos de cumplimiento regulatorio

Los gastos estimados de cumplimiento regulatorio para 2023 fueron de $ 5.2 millones.

Gastos de marketing y ventas

Categoría	Gasto ($ M)
Personal de ventas	7.3
Campañas de marketing	4.9
Marketing/ventas totales	12.2

Sobrecarga administrativa y operativa

Los gastos administrativos para 2023 fueron de $ 22.5 millones.

• Costos administrativos generales
• Mantenimiento de la infraestructura corporativa
• Compensación ejecutiva

Estructura de costos operativos totales para 2023: $ 117.4 millones

Redhill BioPharma Ltd. (RDHL) - Modelo de negocio: flujos de ingresos

Venta de productos de tratamientos farmacéuticos

Para el año fiscal 2023, Redhill Biopharma reportó ingresos totales de $ 25.8 millones. Las principales fuentes de ingresos incluyen:

Producto	Ingresos anuales ($)
Talicia (tratamiento de infección por H. pylori)	12.4 millones
AEMCOLO (diarrea de los viajeros)	7.2 millones
Donnatal (antiespasmódico)	6.2 millones

Ingresos de licencias e regalías

Redhill genera ingresos por licencia a través de asociaciones estratégicas. Los acuerdos de licencia clave incluyen:

• Licencias de RHB-104 para la enfermedad de Crohn a posibles socios internacionales
• Acuerdos de regalías para productos farmacéuticos existentes
• Licencias futuras potenciales de la terapéutica de tuberías

Subvenciones y colaboraciones de investigación

Fuentes de financiación de investigación para 2023 incluyeron:

Fuente de financiación	Monto ($)
Subvenciones de los Institutos Nacionales de Salud (NIH)	1.5 millones
Colaboraciones de investigación académica	0.9 millones

Pagos potenciales de hitos

Los pagos potenciales de hitos de las asociaciones en curso se estiman en:

• RHB-104 Hito de desarrollo de la enfermedad de Crohn: hasta $ 10 millones
• Hitos de asociación potencial RHB-102: hasta $ 5 millones

Monetización de la propiedad intelectual

La cartera de propiedades intelectuales de Redhill incluye múltiples familias de patentes con posibles estrategias de monetización:

Categoría de IP	Número de patentes
Formulaciones terapéuticas únicas	12
Tecnologías de administración de medicamentos	8
Tratamientos de enfermedades infecciosas	6

RedHill Biopharma Ltd. (RDHL) - Canvas Business Model: Value Propositions

You're looking at the core promises RedHill Biopharma Ltd. is making to its customers-the patients and the healthcare providers-as of late 2025. This is where the rubber meets the road for their commercial and R&D efforts.

Talicia is positioned as a significant step up in treating Helicobacter pylori infection, a condition that affects over 50% of the world's adult population. The value here is directly tied to overcoming the growing problem of antibiotic resistance.

• Talicia: Only FDA-approved all-in-one, low-dose rifabutin-based H. pylori therapy.
• It is the #1 branded U.S. gastroenterologist-prescribed H. pylori therapy.

The clinical efficacy data supports this market position. In the pivotal Phase 3 study, Talicia achieved an 84% eradication rate in the intent-to-treat (ITT) group, significantly better than the 58% seen in the active comparator arm ($p<0.0001$). Furthermore, for patients who were confirmed adherent to the therapy, the response rate jumped to 90.3% compared to 64.7% for the comparator.

The resistance profile is a key differentiator. Minimal to zero resistance to rifabutin, the core component, was detected in that pivotal study. This contrasts sharply with the waning effectiveness of older regimens; a 2021 study showed traditional clarithromycin-based triple therapy achieved only 68.5% eradication.

The commercial performance reflects this value proposition. For the first half of 2025, Talicia generated $3.3 million in U.S. net revenues and an additional $0.5 million from the UAE partnership, totaling $3.8 million in net revenues for the product line. This contributed to the company's total first-half 2025 net revenues of $4.1 million, a 59% increase over the first half of 2024's $2.6 million. Access is also expanding, with formulary wins securing access for more than 204 million lives, including 8 million additional Medicare lives added in January 2025. The company also recognized approximately $1.1 million in ex-U.S. milestone and royalty payments in August 2025. To further bolster its commercialization, RedHill Biopharma announced in October 2025 a partnership involving a $4 million investment for a 30% stake in Talicia Holdings.

Here's a quick look at some key metrics for Talicia as of the first half of 2025:

Metric	Value/Figure	Context
U.S. Net Revenues (1H 2025)	$3.3 million	From Talicia sales in the U.S.
Total Covered Lives (as of Jan 2025)	More than 204 million	Total lives covered by U.S. formulary wins.
Pivotal Study Efficacy (ITT)	84% eradication	Compared to 58% for active comparator.
U.S. Market Exclusivity End	2042	Patent protection end date.

Beyond the current commercial success, RedHill Biopharma Ltd. is developing a potential paradigm-shifting treatment for Crohn's disease (CD) with RHB-204. This investigational therapy targets Mycobacterium avium subspecies paratuberculosis (MAP), which is hypothesized to be a root cause of CD, rather than just managing symptoms.

• Pipeline: Potential for paradigm-shifting treatment of Crohn's disease (RHB-204).
• RHB-204 is a next-generation formulation of RHB-104, which showed a 64% improvement in efficacy over standard of care in Phase 3.
• The new formulation is designed to reduce pill burden by 40%.
• The CD market is projected to grow from $13.6 billion in 2024 to over $19 billion by 2033.
• RHB-204 patent protection extends to 2041.

The company received positive FDA feedback in July 2025 on the pathway to approval for a Phase 2 study focused specifically on MAP-positive CD patients. This targeted approach is anticipated to streamline the study, potentially leading to lower costs and an expedited timeline for a therapy that addresses the suspected underlying cause of the disease.

RedHill Biopharma Ltd. (RDHL) - Canvas Business Model: Customer Relationships

You're looking at how RedHill Biopharma Ltd. (RDHL) manages its connections with the people who use and influence its products, especially Talicia. This is a mix of direct sales effort, strategic partnerships, and global reach, all focused on getting their key gastrointestinal drug to the right prescribers and patients.

Co-commercialization model with Cumberland for shared sales and marketing

The relationship with Cumberland Pharmaceuticals Inc. is a major shift, effective late 2025, creating a joint entity for the Talicia business. Cumberland invested $4 million to acquire a 30% ownership stake, giving them joint control while RedHill Biopharma Ltd. retains 70% ownership. This partnership established a U.S. co-commercialization agreement where the companies will equally share the product's net revenues. For context, Talicia net revenues were $8 million in 2024, and the U.S. portion for the first half of 2025 was $3.3 million. Cumberland's role is to leverage its established national sales force to lead promotional efforts, aiming to deliver efficiencies through shared responsibility across sales, marketing, manufacturing, supply, regulatory, and administrative operations.

Direct engagement with U.S. gastroenterologists and specialists

RedHill Biopharma Ltd. maintains a focused, direct engagement strategy in the U.S. market, where Talicia is positioned as the number one branded H. pylori therapy prescribed by gastroenterologists. This direct relationship is supported by the drug's inclusion as a first-line option in the American College of Gastroenterology (ACG) Clinical Guideline. The commercial reach has been expanding through payer negotiations; in the first half of 2025, formulary wins secured 8 million additional covered lives, bringing the total U.S. lives with access to more than 204 million. Talicia generated $3.8 million in U.S. net revenues in the first half of 2025.

Key metrics defining this direct customer relationship include:

• Talicia is the #1 branded H. pylori therapy prescribed by U.S. gastroenterologists.
• Listed as a first-line treatment option in ACG Clinical Guidelines.
• U.S. formulary coverage reached over 204 million lives as of June 30, 2025.
• U.S. net revenues for the first half of 2025 were $3.3 million.

Patient-focused warranty program for Talicia

To build confidence and drive adherence among patients, RedHill Biopharma Ltd. uses a patient-focused warranty program. This program commits RedHill Biopharma Ltd. to reimburse the out-of-pocket costs for patients who complete the full 14-day treatment course and do not achieve eradication, confirmed by post-treatment testing. This commitment extends to all commercially insured or non-insured Talicia patients. The program is underpinned by strong clinical efficacy data; in the pivotal Phase 3 study, Talicia showed an 84% eradication rate in the intent-to-treat group, which rose to 90.3% in the confirmed adherent population.

The warranty terms relate directly to the product's demonstrated performance:

Efficacy Metric	Observed Rate
Pivotal Phase 3 ITT Eradication Rate	84%
Pivotal Phase 3 Confirmed Adherent Eradication Rate	90.3%
Required Treatment Course Duration	14-day

Licensing and collaboration management with global pharma partners

Customer relationships extend globally through licensing deals, providing non-dilutive revenue streams and expanding patient access outside the U.S. A significant collaboration is the worldwide development and commercialization licensing agreement (excluding North America) for RHB-102 (Bekinda®) with Hyloris Pharmaceuticals, valued up to $60 million in potential milestone payments plus royalties up to the mid-20s percent. For Talicia, RedHill Biopharma Ltd. secured a new Middle East licensing deal in October 2025, potentially worth up to $1.8 million plus royalties, which includes $500,000 in guaranteed payments ($250,000 upfront) and a minimum of $1.3 million in near-term milestones. Furthermore, the company received its first ex-U.S. Talicia payments in August 2025, totaling approximately $1.1 million from sales milestones and royalties. The UAE partnership with Gaelan Medical contributed approximately $1.0 million in new revenues for Talicia in 2024.

Global partnership financial structures include:

• RHB-102 deal with Hyloris: Up to $60 million in milestones plus royalties up to the mid-20s percent.
• New Middle East Talicia deal: Guaranteed payments of $500,000 plus royalties up to the mid-teens percent.
• First ex-U.S. Talicia milestone/royalty payment received: Approximately $1.1 million.
• 2024 UAE Talicia revenue contribution: Approximately $1.0 million.

RedHill Biopharma Ltd. (RDHL) - Canvas Business Model: Channels

You're looking at how RedHill Biopharma Ltd. (RDHL) gets its products, primarily Talicia, to the customer and secures access in late 2025. This involves a mix of direct sales efforts, partnerships, and payer negotiations.

• U.S. Specialty Sales Force (co-commercialization with Cumberland Pharmaceuticals Inc. as of October 20, 2025).
• Pharmaceutical Wholesalers and Distributors (implied through U.S. commercialization and sales).
• Ex-U.S. Licensing Partners for international market access, including Hyloris Pharmaceuticals for RHB-102.
• Formulary Coverage: Secured access for over 204 million U.S. covered lives as of the first half of 2025.

The commercial channel for Talicia in the U.S. is supported by a streamlined operation. Selling, Marketing, and General and Administrative Expenses for the first half of 2025 were $5.9 million, a reduction from $9 million in the first half of 2024, reflecting workforce downsizing and lower commercial activity.

International reach is driven by out-licensing deals. For example, the RHB-102 deal with Hyloris Pharmaceuticals is a global license (excluding North America) valued at up to $60 million in potential milestone payments. Also, Talicia generated approximately $0.6 million in net revenues from the UAE partnership in the first half of 2025.

Here's a quick look at the quantifiable channel results and reach as of the first half of 2025:

Channel Metric	Product/Area	Value/Amount (H1 2025)
Total Secured U.S. Covered Lives	Talicia Formulary Access	More than 204 million lives
Additional Covered Lives Secured (H1 2025)	Talicia Formulary Wins (e.g., Humana)	8 million additional lives
U.S. Net Revenues	Talicia	$3.3 million
Ex-U.S. Net Revenues	Talicia (UAE Partnership)	Approximately $0.6 million
Total Net Revenues	All Sources	$4.1 million
Potential Licensing Value (Ex-NA)	RHB-102 with Hyloris Pharma	Up to $60 million

The U.S. commercial execution, even with a smaller team, resulted in Talicia maintaining its No.1 position as the most prescribed branded H. pylori therapy by U.S. gastroenterologists through the first half of 2025. The expansion of payer access is a direct measure of channel effectiveness; the Humana Part D Plan win, effective January 1, 2025, specifically provided access to more than eight million additional Medicare lives.

Finance: review Q3 2025 SG&A spend against the H1 2025 run-rate by end of month.

RedHill Biopharma Ltd. (RDHL) - Canvas Business Model: Customer Segments

You're looking at the core groups RedHill Biopharma Ltd. (RDHL) targets to drive adoption of its commercial products and fund its pipeline. The focus is heavily weighted toward the U.S. market for its flagship GI product, Talicia^®, but significant value is also derived from non-dilutive ex-North America licensing deals.

Adult patients with Helicobacter pylori infection in the U.S.

This segment represents the immediate, addressable market for Talicia^®, the FDA-approved treatment for H. pylori infection in adults. The need is driven by high infection rates and growing resistance to older therapies. Honestly, the scale of the problem is quite large.

• H. pylori affects approximately 35% of the U.S. adult population.
• An estimated 1.6 million people in the U.S. are treated annually for this infection.
• Current therapies fail in anywhere between 25% and 40% of patients due to antibiotic resistance.
• Talicia has eight years of U.S. market exclusivity under its Qualified Infectious Disease Product (QIDP) designation.
• Patent protection for Talicia extends through the year 2042.
• As of the first half of 2025, Talicia U.S. formulary wins secured access for more than 204 million covered lives.

U.S. Gastroenterologists and Primary Care Physicians.

These are the prescribers whose prescribing habits directly translate to RedHill Biopharma Ltd.'s U.S. revenue. The company has successfully positioned Talicia as a preferred option, which is defintely key for market penetration.

• Talicia is the #1 branded H. pylori therapy prescribed by U.S. gastroenterologists.
• The American College of Gastroenterology (ACG) Clinical Guideline lists Talicia as a first-line treatment option.
• A recent co-commercialization partnership with Cumberland Pharmaceuticals involves an equal sharing of the product's net revenues.

Here's a quick math look at the commercial traction and partnership value related to the H. pylori segment and other key assets as of late 2025:

Metric/Deal	Value/Amount	Context
Talicia Net Revenues (H1 2025)	$3.3 million	U.S. net revenues for the first half of 2025.
RHB-102 (ex-North America) Deal Value	Up to $60 million	Potential milestone payments from the Hyloris Pharmaceuticals licensing agreement.
RHB-102 Royalties (Hyloris)	Up to mid-20s percent	Royalties on revenues from the Hyloris ex-North America deal.
Talicia Middle East Deal (Guaranteed)	$500,000	Guaranteed payments from the new Middle East licensing agreement.
First ex-U.S. Talicia Payments Received	Approximately $1.1 million	Total sales milestone, royalties, and other payments received as of August 2025.
Total Net Revenues (H1 2025)	$4.1 million	Total net revenues for the first half of 2025.

Global pharmaceutical companies seeking licensed assets (ex-North America).

This segment provides crucial non-dilutive funding and validates the global potential of RedHill Biopharma Ltd.'s pipeline assets outside its core U.S. commercial focus. The company is actively pursuing these streams.

• The RHB-102 licensing deal with Hyloris Pharmaceuticals includes potential milestone payments up to $60 million.
• The Middle East Talicia deal is worth potentially $1.8 million plus royalties.
• Net Revenues for the first half of 2025 included $0.5 million from the UAE Talicia partnership in product sales, plus $0.1 million from royalties.

U.S. Government agencies (DoD) for biodefense/radiation protection programs.

This group acts as a key customer/funder for the development of certain pipeline assets, specifically those with biodefense or radiation countermeasure applications. What this estimate hides is the specific contract value for each program, as the funding is often structured through grants or collaborations.

• Opaganib for gastrointestinal Acute Radiation Syndrome (GI-ARS) is part of U.S. Government- and non-government funded programs.
• These GI-ARS programs fall under the U.S. Government's Radiation and Nuclear Countermeasures Program product pipeline development contract.
• The pipeline programs are described as being predominantly externally funded through multiple U.S. Government collaborations.

Finance: finalize the Q3 2025 cash flow forecast by next Tuesday.

RedHill Biopharma Ltd. (RDHL) - Canvas Business Model: Cost Structure

You're looking at the core expenses RedHill Biopharma Ltd. (RDHL) is managing as of late 2025, which really shows where the company is prioritizing its cash after the significant overhaul last year. Honestly, the cost structure reflects a much leaner operation focused on maximizing the return from existing assets and pipeline progress.

The major operating costs are broken down into three key areas for the first half of 2025. Selling, Marketing, and G&A Expenses saw a substantial reduction, which is a direct result of the company's cost-cutting drive. R&D remains a necessary, though tightly controlled, expenditure to push the pipeline forward, and COGS reflects the cost to generate the product revenues.

Here's the quick math on the primary cost components for the six months ended June 30, 2025:

Cost Category	H1 2025 Amount (Millions USD)	Comparison/Context
Selling, Marketing, and G&A Expenses	$5.9 million	Reduced from $9 million in H1 2024 due to workforce downsizing and lower commercial activity.
Research and Development (R&D) Expenses	$1 million	Controlled spend supporting pipeline advancement.
Cost of Goods Sold (COGS)	$1.6 million	Up from $1.4 million in H1 2024, partly because higher royalty/license revenues in 2025 had no associated COGS.

The operational burn rate has definitely improved. Net cash used in operations for H1 2025 dropped to $5 million, down from $6.2 million in the first half of 2024, showing a further 19% reduction in cash burn following the prior year's massive 74% cut. That's a concrete action translating directly to runway extension.

When we look at financing activities, the focus shifts to managing capital through equity programs. This isn't a direct operating cost, but it's a critical part of the overall financial structure, especially for a company like RedHill Biopharma Ltd. (RDHL) that relies on external funding to bridge operational gaps.

The use of the At-the-Market (ATM) program is a key element here:

• Net Cash Provided by Financing Activities for H1 2025 was $3.3 million.
• This cash inflow was driven by the use of the ATM program.
• The ATM program, under a February 3, 2025, prospectus supplement, allowed for sales of ADSs (American Depositary Shares).
• Net proceeds of approximately $3.3 million were generated from the sale of 890,001 ADSs at an average price of $3.85 per ADS.
• This contrasts with H1 2024's $7.9 million in net cash from financing, which was mainly derived from other equity offerings.

The costs associated with these equity issuances, often referred to as issuance costs, are typically netted against the gross proceeds. For instance, the full-year 2024 data showed proceeds from issuance of ordinary shares and warrants, net of issuance costs, were $3.448 million. While the exact H1 2025 issuance costs aren't itemized separately from the net proceeds, the $3.3 million figure represents the net cash received after those costs were accounted for.

To be fair, the company is managing its cost base aggressively. The reduction in Selling, Marketing, and G&A to $5.9 million is significant, especially when compared to the $15.5 million for the full year 2024. Finance: draft the 13-week cash view by Friday, focusing on the burn rate against the current $3 million cash balance as of June 30, 2025.

RedHill Biopharma Ltd. (RDHL) - Canvas Business Model: Revenue Streams

You're looking at the hard numbers for RedHill Biopharma Ltd.'s income sources as of late 2025. Here's the quick math on what's flowing in.

Net Revenues (H1 2025)

RedHill Biopharma Ltd. reported total Net Revenues for the first half of 2025 of $4.1 million. This represents a 59% increase year-over-year compared to the first half of 2024's $2.6 million. The operating loss also improved, dropping to $4.4 million from $8.4 million in the prior-year period. Cash balance stood at $3 million as of June 30, 2025. This streamlined commercial operation is defintely showing results.

U.S. Talicia Product Sales

The core of the product sales revenue comes from the U.S. market. U.S. Talicia Product Sales generated $3.3 million in net revenues for H1 2025. This was up from $3.0 million in the same period in 2024, reflecting an increase in units sold. Talicia maintained its position as the number one branded H. pylori therapy prescribed by U.S. gastroenterologists.

Ex-U.S. Licensing Payments and Other Inflows

Revenue outside the U.S. is driven by partnerships and milestone achievements. For example, upfront fees, milestones, and royalties contributed an amount such as the $1.1 million received in August 2025 following the first ex-U.S. commercial launch of Talicia in 2024. The UAE partnership specifically contributed approximately $0.6 million in net revenues in H1 2025, which included product sales and royalties. Also contributing to the financial picture were other non-product revenue items:

Revenue Source Detail	H1 2025 Amount
Total Net Revenues	$4.1 million
U.S. Talicia Net Revenues	$3.3 million
Total Talicia Net Revenues	$3.8 million
Ex-U.S. Talicia Net Revenues (UAE Partnership)	$0.5 million (Product Sales) + $0.1 million (Royalties)

Furthermore, RedHill Biopharma Ltd. recognized income from other licensing activities:

• RHB-102 license with Hyloris Pharma: $0.3 million recorded in H1 2025, comprising a $0.1 million upfront payment and $0.2 million related to the present value of minimum annual payments.
• Legal settlement: Over $10.5 million awarded in a New York court decision against Kukbo Co. Ltd, which became final for enforcement in November 2025.

Partner Investment

A significant non-operating inflow came from a strategic partnership. RedHill Biopharma Ltd. secured a $4 million investment from Cumberland Pharmaceuticals in October 2025. This investment was in exchange for a 30% ownership stake in Talicia Holdings, the subsidiary managing the global rights to Talicia. This transaction also established a five-year U.S. co-commercialization agreement where net revenues are shared equally.

Other potential future revenue streams are being discussed, including active discussions to secure additional non-dilutive ex-US licensing revenue streams for Talicia.