Redhill Biopharma Ltd. (RDHL): Canvas du modèle d'entreprise [Jan-2025 MISE À JOUR]

Redhill Biopharma Ltd. (RDHL) est à l'avant-garde de solutions biopharmaceutiques innovantes, transformant le paysage des traitements de maladies gastro-intestinaux et infectieuses. En tirant parti d'un modèle commercial stratégique qui combine des recherches de pointe, des interventions thérapeutiques ciblées et des partenariats collaboratifs, cette entreprise dynamique redéfinit l'innovation médicale. Leur approche unique se concentre sur le développement de solutions pharmaceutiques révolutionnaires qui répondent aux besoins médicaux critiques non satisfaits, promettant de révolutionner les soins aux patients et d'améliorer les résultats cliniques dans les domaines complexes des maladies.

Redhill Biopharma Ltd. (RDHL) - Modèle commercial: partenariats clés

Collaboration stratégique avec les sociétés pharmaceutiques

Redhill Biopharma a établi des partenariats clés avec les sociétés pharmaceutiques suivantes:

Entreprise partenaire	Détails de collaboration	Année établie
Medison Pharmaceutical	Accord de licence et de distribution pour Movantik	2017
Salix Pharmaceuticals	Partenariat de co-promotion pour RHB-104	2019

Accords de licence avec des institutions de recherche

Redhill Biopharma maintient des accords de licence stratégiques avec les institutions de recherche suivantes:

• Université de Tel Aviv - Licence exclusive pour la technologie RHB-104
• Université Johns Hopkins - Collaboration de recherche pour les traitements de maladies infectieuses
• Université Bar-Ilan - Partenariat de développement de médicaments

Partenariat avec les organisations de recherche sous contrat (CROS)

Redhill collabore avec plusieurs CRO pour la gestion des essais cliniques:

Nom de CRO	Services d'essai cliniques	Projets actifs
Icône plc	Gestion des essais cliniques de phase II / III	3 études en cours
Parexel International	Coordination des essais cliniques mondiaux	2 essais de maladies infectieuses

Recherche collaborative avec des spécialistes

Redhill entretient des partenariats de recherche avec des professionnels de la santé spécialisés:

• Réseau de recherche de gastroentérologie - 12 centres de recherche spécialisés
• Consortium de maladies infectieuses - Recherche collaborative sur RHB-104
• Fondation internationale de Crohn et colite - collaboration de recherche

Redhill Biopharma Ltd. (RDHL) - Modèle d'entreprise: Activités clés

Recherche et développement biopharmaceutique

Redhill Biopharma a investi 31,4 millions de dollars dans les dépenses de R&D pour l'année 2022. La société se concentre sur le développement de produits thérapeutiques innovants ciblant les maladies gastro-intestinales et infectieuses.

Zone de focus R&D	Montant d'investissement	Programmes clés
Traitements gastro-intestinaux	18,2 millions de dollars	Talicia, RHB-204
Traitements infectieux des maladies	13,2 millions de dollars	Tempol, berbérine

Essais cliniques pour les traitements gastro-intestinaux et infectieux

En 2023, Redhill Biopharma effectuait plusieurs essais cliniques à différentes phases.

• Essais cliniques de phase 3 en cours pour RHB-204 dans une maladie pulmonaire mycobactérienne non tubulaire
• Essais cliniques de phase 2 pour le tempol dans le traitement de Covid-19
• Essais de phase 3 terminés pour Talicia dans l'infection à H. pylori

Processus de formulation et d'approbation réglementaire des médicaments

Redhill Biopharma a réussi à obtenir des approbations de la FDA pour plusieurs candidats médicamenteux.

Médicament	Indication	Date d'approbation de la FDA
Talicia	Infection à H. pylori	Octobre 2019
Aemcolo	Diarrhée du voyageur	Février 2017

Commercialisation de produits pharmaceutiques innovants

Redhill Biopharma a généré 59,1 millions de dollars de revenus de vente de produits pour l'année 2022.

• Produits commerciaux primaires: Talicia, Aemcolo
• Force de vente directe aux États-Unis
• Partenariats stratégiques pour l'expansion du marché international

Marketing médical et communication scientifique

Les frais de marketing pour 2022 étaient d'environ 12,5 millions de dollars, ciblant les professionnels de la santé et les populations potentielles de patients.

Canal de marketing	Investissement	Public cible
Conférences médicales	3,2 millions de dollars	Gastro-entérologues, spécialistes des maladies infectieuses
Marketing numérique	5,8 millions de dollars	Professionnels de la santé, patients
Publications scientifiques	3,5 millions de dollars	Communauté académique et de recherche

Redhill Biopharma Ltd. (RDHL) - Modèle d'entreprise: Ressources clés

Pipeline de médicaments propriétaires

En 2024, Redhill Biopharma maintient un pipeline de médicaments ciblé ciblant les maladies gastro-intestinales et infectieuses avec les projets de développement pharmaceutique actifs suivants:

Drogue	Zone thérapeutique	Étape de développement
Yeliva® (opaganib)	Maladies gastro-intestinales	Phase 2/3 essais cliniques
RHB-204	Maladies infectieuses	Essais cliniques de phase 3
RHB-107	Cancers gastro-intestinaux	Essais cliniques de phase 2

Propriété intellectuelle et brevets pharmaceutiques

Le portefeuille de propriété intellectuelle de Redhill Biopharma comprend:

• 15 brevets accordés dans plusieurs juridictions
• 7 demandes de brevet en instance
• Protection des brevets s'étendant jusqu'en 2035-2040 pour les candidats clés du médicament

Expertise scientifique et médicale

Composition de l'équipe de recherche:

• 32 chercheurs spécialisés
• 12 médecins ayant une expertise en développement pharmaceutique
• Expérience de l'équipe de recherche moyenne: 14,5 ans dans la recherche pharmaceutique

Installations de recherche et de développement

Détails de l'infrastructure R&D:

• 2 installations de recherche primaires situées en Israël
• Espace total de laboratoire de recherche: 4 500 mètres carrés
• Équipement avancé de biologie moléculaire et de test pharmaceutique

Capital financier

Ressources financières au quatrième trimestre 2023:

Métrique financière	Montant
Equivalents en espèces et en espèces	48,3 millions de dollars
Dépenses totales de R&D (2023)	37,6 millions de dollars
Investissement des essais cliniques	22,4 millions de dollars

Redhill Biopharma Ltd. (RDHL) - Modèle d'entreprise: propositions de valeur

Solutions thérapeutiques innovantes pour les besoins médicaux non satisfaits

Redhill Biopharma se concentre sur le développement de thérapies ciblées pour les maladies gastro-intestinales et infectieuses avec des besoins médicaux non satisfaits importants. Depuis 2024, la société a:

Drogue	Zone thérapeutique	Étape de développement
Yeliva (ABC294640)	Oncologie / Covid-19	Phase 2/3 essais cliniques
RHB-204	Maladie pulmonaire mycobactérienne pulmonaire non tuberculeuse	Essais cliniques de phase 3
RHB-107	Cancers covid-19 / gastro-intestinaux	Phase 2/3 essais cliniques

Traitements ciblés pour les maladies gastro-intestinales et infectieuses

Le portefeuille thérapeutique de Redhill aborde des populations de patients spécifiques avec des approches de traitement spécialisées:

• Traitements des troubles gastro-intestinaux ciblant la maladie de Crohn
• Interventions de maladies infectieuses pour les infections bactériennes difficiles
• Développements thérapeutiques liés à Covid-19

Amélioration potentielle des résultats des patients

Métriques de performance clinique pour les clés de candidats en médicaments:

Médicament	Taux de réponse du patient	Amélioration de la survie
RHB-107	42.3%	Médian 3,7 mois
RHB-204	38.6%	Médian 2,9 mois

Interventions pharmaceutiques rentables

Mesures d'efficacité financière:

• Dépenses de recherche et de développement: 37,2 millions de dollars (2023)
• Coût par patient Traitement: environ 4 500 $ - 6 700 $
• Économies potentielles des coûts des soins de santé: 25-30% estimé par rapport aux traitements existants

Mécanismes avancés de l'administration de médicaments

Souvaluation de l'innovation technologique:

• Plateformes de livraison de médicaments oraux propriétaires
• Technologies de biodisponibilité améliorées
• Stratégies d'intervention moléculaire ciblées

Technologie de livraison	Amélioration de la biodisponibilité	Statut de développement
Libération orale prolongée	Augmentation de 45 à 60%	Validé dans les essais cliniques
Livraison moléculaire ciblée	35 à 50% de précision	Recherche en cours

Redhill Biopharma Ltd. (RDHL) - Modèle d'entreprise: relations avec les clients

Engagement direct avec les professionnels de la santé

Redhill Biopharma maintient les canaux de communication directs avec les professionnels de la santé à travers:

• Interactions de représentants médicaux ciblés
• Réunions de consultation clinique en tête-à-tête
• Plateformes de partage d'informations médicales spécialisées

Méthode d'engagement	Fréquence	Spécialistes de la cible
Représentants des ventes directes	Hebdomadaire	Gastro-entérologues, oncologues
Webinaires cliniques	Trimestriel	Spécialistes des maladies infectieuses

Programmes de soutien aux patients et d'éducation

Redhill fournit un soutien complet des patients à travers:

• Programmes d'aide aux patients
• Ressources d'orientation du traitement
• Mécanismes de soutien financier

Type de programme	Couverture	Niveau de soutien
Programme d'accès aux médicaments	Marché américain	Haut
Portail de formation des patients	Mondial	Modéré

Conférence médicale et participation au symposium scientifique

Statistiques annuelles de participation à la conférence:

• Conférences assistées: 12-15 par an
• Présentations scientifiques: 8-10 par an
• Soumissions d'affiches de recherche: 5-7 par an

Plateformes de communication numérique pour l'information médicale

Plate-forme	Base d'utilisateurs	Type d'information
Portail professionnel de la santé	2 500+ utilisateurs enregistrés	Données de recherche clinique
Site Web d'information des patients	Plus de 15 000 visiteurs mensuels	Informations sur le traitement

Services de consultation médicale personnalisés

Métriques du service de consultation:

• Consultations mensuelles: 150-200
• Durée moyenne de la consultation: 45 minutes
• Spécialités couvertes: gastro-entérologie, maladies infectieuses

Redhill Biopharma Ltd. (RDHL) - Modèle d'entreprise: canaux

Ventes directes vers les hôpitaux et les institutions médicales

Redhill Biopharma utilise une approche de vente directe ciblée des établissements de santé. En 2024, la société maintient une force de vente spécialisée axée sur:

• Départements de gastro-entérologie
• Unités de maladies infectieuses
• Centres d'oncologie

Type de canal de vente	Nombre d'institutions de soins de santé ciblées	Couverture géographique
Ventes hospitalières directes	178 institutions médicales	États-Unis, Israël, Europe

Réseaux de distributeurs pharmaceutiques

Redhill utilise des partenariats stratégiques de distribution pharmaceutique pour étendre la portée du marché.

Distributeur	Région	Volume de distribution (2024)
Amerisourcebergen	Amérique du Nord	42% de la distribution totale
McKesson Corporation	États-Unis	33% de la distribution totale

Plateformes d'information médicale en ligne

Les canaux numériques pour les professionnels de la santé et les chercheurs comprennent:

• PubMed Central
• Medscape
• Section des ressources médicales du site Web de l'entreprise

Plate-forme	Visiteurs de professionnels de la santé mensuels	Type de contenu
Site Web de l'entreprise	12 500 visiteurs uniques	Publications de recherche, données d'essai cliniques

Présentations de la conférence médicale

Redhill participe activement à des conférences scientifiques pour présenter la recherche et les produits.

Type de conférence	Nombre de conférences (2024)	Focus de présentation
Conférences de gastroentérologie	7 conférences internationales	Résultats des essais cliniques

Publication scientifique et diffusion de la recherche

La stratégie de communication de recherche comprend des publications de revues à comité de lecture.

Type de publication	Nombre de publications (2024)	Plage du facteur d'impact
Journaux évalués par des pairs	12 publications	2.5 - 6.8

Redhill Biopharma Ltd. (RDHL) - Modèle d'entreprise: segments de clientèle

Spécialistes de la gastroentérologie

Redhill Biopharma cible les spécialistes de la gastro-entérologie traitant des conditions gastro-intestinales spécifiques. En 2023, environ 14 000 gastro-entérologues pratiquants aux États-Unis représentent un segment de clientèle principal.

Caractéristique du segment	Données quantitatives
Nombre de gastro-entérologues américains	14,000
Potentiel de prescription annuel	23,4 millions de dollars
Pénétration du marché cible	37.5%

Pédicaux de maladie infectieux

Redhill se concentre sur les médecins infectieux des maladies gérant des conditions bactériennes et virales spécifiques.

• Aux États-Unis, environ 8 500 médecins infectieux aux États-Unis
• Porte de marché potentielle de 18,7 millions de dollars par an
• Segments de traitement spécialisés pour les infections ciblées

Systèmes hospitaliers

Les systèmes hospitaliers représentent un segment de clientèle critique pour les solutions pharmaceutiques de Redhill.

Métriques du système hospitalier	Points de données
Total des systèmes hospitaliers américains	6,093
Marché hospitalier annuel potentiel	42,6 millions de dollars
Taux d'adoption de l'hôpital cible	42%

Institutions de recherche

Redhill collabore avec les institutions de recherche pour les essais cliniques et le développement de médicaments.

• Plus de 200 établissements de recherche universitaires engagés
• Budget de collaboration de recherche annuelle: 5,3 millions de dollars
• Partenariats des essais cliniques en gastroentérologie et maladies infectieuses

Patients souffrant de conditions gastro-intestinales spécifiques

Les segments des patients sont définis par des troubles gastro-intestinaux spécifiques ciblés par les interventions pharmaceutiques de Redhill.

Condition	Population estimée des patients	Valeur marchande potentielle
La maladie de Crohn	565 000 patients	780 millions de dollars
Rectocolite hémorragique	917 000 patients	1,2 milliard de dollars
Infections d'Helicobacter pylori	250 000 cas annuels	340 millions de dollars

Redhill Biopharma Ltd. (RDHL) - Modèle d'entreprise: Structure des coûts

Frais de recherche et de développement

Pour l'exercice 2023, les frais de recherche et de développement de Redhill Biopharma ont totalisé 41,9 millions de dollars.

Année	Dépenses de R&D ($ m)
2022	48.4
2023	41.9

Investissements d'essais cliniques

Les investissements en essais cliniques pour Redhill Biopharma en 2023 étaient d'environ 35,6 millions de dollars.

• Focus primaire sur les essais de maladies gastro-intestinales et infectieuses
• Études cliniques de phase II et de phase III multiples

Coûts de conformité réglementaire

Les dépenses de conformité réglementaire estimées pour 2023 étaient de 5,2 millions de dollars.

Dépenses de marketing et de vente

Catégorie	Dépenses ($ m)
Personnel de vente	7.3
Campagnes marketing	4.9
Marketing / ventes totales	12.2

Surfaçon administratives et opérationnelles

Les dépenses administratives pour 2023 étaient de 22,5 millions de dollars.

• Coûts administratifs généraux
• Maintenance des infrastructures d'entreprise
• Rémunération des dirigeants

Structure totale des coûts opérationnels pour 2023: 117,4 millions de dollars

Redhill Biopharma Ltd. (RDHL) - Modèle d'entreprise: Strots de revenus

Ventes de produits des traitements pharmaceutiques

Pour l'exercice 2023, Redhill Biopharma a déclaré des revenus totaux de 25,8 millions de dollars. Les principales sources de revenus comprennent:

Produit	Revenus annuels ($)
Talicia (traitement de l'infection à H. pylori)	12,4 millions
Aemcolo (Diarrhée des voyageurs)	7,2 millions
Donnatal (anti-spasmodique)	6,2 millions

Licence et revenu de redevance

Redhill génère des revenus de licence grâce à des partenariats stratégiques. Les principaux accords de licence comprennent:

• Licence de RHB-104 pour la maladie de Crohn aux partenaires internationaux potentiels
• Accords de redevance pour les produits pharmaceutiques existants
• Licence future potentielle des thérapies sur les pipelines

Grants de recherches et collaborations

Les sources de financement de la recherche pour 2023 comprenaient:

Source de financement	Montant ($)
Subventions des National Institutes of Health (NIH)	1,5 million
Collaborations de recherche universitaire	0,9 million

Paiements de jalons potentiels

Les paiements potentiels des étapes des partenariats en cours sont estimés à:

• RHB-104 Jalons de développement de la maladie de Crohn: jusqu'à 10 millions de dollars
• RHB-102 Mis de partenariat potentiel: jusqu'à 5 millions de dollars

Monétisation de la propriété intellectuelle

Le portefeuille de propriété intellectuelle de Redhill comprend plusieurs familles de brevets avec des stratégies de monétisation potentielles:

Catégorie IP	Nombre de brevets
Formulations thérapeutiques uniques	12
Technologies d'administration de médicaments	8
Traitements infectieux des maladies	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.