Redhill Biopharma Ltd. (RDHL): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Redhill Biopharma Ltd. (RDHL) fica na vanguarda de soluções biofarmacêuticas inovadoras, transformando a paisagem dos tratamentos de doenças gastrointestinais e infecciosas. Ao alavancar um modelo de negócios estratégico que combina pesquisas de ponta, intervenções terapêuticas direcionadas e parcerias colaborativas, esta empresa dinâmica está redefinindo a inovação médica. Sua abordagem única se concentra no desenvolvimento de soluções farmacêuticas inovadoras que atendem às necessidades médicas não atendidas críticas, prometendo revolucionar o atendimento ao paciente e melhorar os resultados clínicos em domínios complexos de doenças.

Redhill Biopharma Ltd. (RDHL) - Modelo de negócios: Parcerias -chave

Colaboração estratégica com empresas farmacêuticas

Redhill Biopharma estabeleceu parcerias importantes com as seguintes empresas farmacêuticas:

Empresa parceira	Detalhes da colaboração	Ano estabelecido
Medison Pharmaceutical	Contrato de Licenciamento e Distribuição para Movantik	2017
Salix Pharmaceuticals	Parceria de co-promoção para RHB-104	2019

Acordos de licenciamento com instituições de pesquisa

Redhill Biopharma mantém acordos estratégicos de licenciamento com as seguintes instituições de pesquisa:

• Universidade de Tel Aviv - Licenciamento exclusivo para tecnologia RHB -104
• Universidade Johns Hopkins - Colaboração de Pesquisa para Tratamentos de Doenças Infecciosas
• Universidade Bar -Ilan - Parceria de Desenvolvimento de Medicamentos

Parceria com organizações de pesquisa contratada (CROs)

Redhill colabora com vários CROs para gerenciamento de ensaios clínicos:

Nome do CRO	Serviços de ensaios clínicos	Projetos ativos
Icon plc	Gerenciamento de ensaios clínicos de Fase II/III	3 estudos em andamento
Parexel International	Coordenação do ensaio clínico global	2 ensaios de doenças infecciosas

Pesquisa colaborativa com especialistas

Redhill mantém parcerias de pesquisa com profissionais médicos especializados:

• Rede de pesquisa de gastroenterologia - 12 centros de pesquisa especializados
• Consórcio de Doenças Infecciosas - Pesquisa Colaborativa em RHB -104
• Fundação Internacional de Crohn e Colite - Colaboração de Pesquisa

Redhill Biopharma Ltd. (RDHL) - Modelo de negócios: Atividades -chave

Pesquisa e Desenvolvimento Biofarmacêutico

A Redhill Biopharma investiu US $ 31,4 milhões em despesas de P&D no ano de 2022. A Companhia se concentra no desenvolvimento de produtos terapêuticos inovadores direcionados a doenças gastrointestinais e infecciosas.

Área de foco em P&D	Valor do investimento	Programas -chave
Tratamentos gastrointestinais	US $ 18,2 milhões	Talicia, RHB-204
Tratamentos de doenças infecciosas	US $ 13,2 milhões	Tempol, berberina

Ensaios clínicos para tratamentos de doenças gastrointestinais e infecciosas

A partir de 2023, o Redhill Biopharma estava conduzindo múltiplos ensaios clínicos em diferentes fases.

• Ensaios clínicos de fase 3 em andamento para RHB-204 em doença pulmonar micobacteriana não-bobaculosa
• Ensaios clínicos de fase 2 para tempol no tratamento CoVid-19
• Ensaios de Fase 3 concluídos para Talicia em H. Pylori Infecção

Processos de formulação de medicamentos e aprovação regulatória

O Redhill Biopharma obteve aprovações da FDA com sucesso para vários candidatos a medicamentos.

Medicamento	Indicação	Data de aprovação da FDA
Talicia	Infecção por H. pylori	Outubro de 2019
Aemcolo	Diarréia do viajante	Fevereiro de 2017

Comercialização de produtos farmacêuticos inovadores

O Redhill Biopharma gerou US $ 59,1 milhões em receita de vendas de produtos para o ano de 2022.

• Produtos Comercializados Primários: Talicia, Aemcolo
• Força de vendas direta nos Estados Unidos
• Parcerias estratégicas para expansão do mercado internacional

Marketing médico e comunicação científica

As despesas de marketing de 2022 foram de aproximadamente US $ 12,5 milhões, direcionando os profissionais de saúde e possíveis populações de pacientes.

Canal de marketing	Investimento	Público -alvo
Conferências médicas	US $ 3,2 milhões	Gastroenterologistas, especialistas em doenças infecciosas
Marketing digital	US $ 5,8 milhões	Profissionais de saúde, pacientes
Publicações científicas	US $ 3,5 milhões	Comunidade acadêmica e de pesquisa

Redhill Biopharma Ltd. (RDHL) - Modelo de negócios: Recursos -chave

Oleoduto de drogas proprietário

A partir de 2024, o Redhill Biopharma mantém um oleoduto focado, direcionado a doenças gastrointestinais e infecciosas com os seguintes projetos de desenvolvimento farmacêutico ativo:

Candidato a drogas	Área terapêutica	Estágio de desenvolvimento
Yeliva® (Opaganib)	Doenças gastrointestinais	Fase 2/3 Ensaios Clínicos
RHB-204	Doenças infecciosas	Ensaios clínicos de fase 3
RHB-107	Câncer gastrointestinal	Ensaios clínicos de fase 2

Propriedade intelectual e patentes farmacêuticas

O portfólio de propriedade intelectual de Redhill Biopharma inclui:

• 15 patentes concedidas em várias jurisdições
• 7 pedidos de patente pendente
• Proteção de patentes que se estende até 2035-2040 para os principais candidatos a drogas

Experiência científica e médica

Composição da equipe de pesquisa:

• 32 cientistas de pesquisa especializados
• 12 médicos com experiência em desenvolvimento farmacêutico
• Experiência média da equipe de pesquisa: 14,5 anos em pesquisa farmacêutica

Instalações de pesquisa e desenvolvimento

Detalhes da infraestrutura de P&D:

• 2 instalações de pesquisa primárias localizadas em Israel
• Espaço total do laboratório de pesquisa: 4.500 metros quadrados
• Equipamento avançado de biologia molecular e teste farmacêutico

Capital financeiro

Recursos Financeiros a partir do quarto trimestre 2023:

Métrica financeira	Quantia
Caixa e equivalentes de dinheiro	US $ 48,3 milhões
Despesas totais de P&D (2023)	US $ 37,6 milhões
Investimento de ensaios clínicos	US $ 22,4 milhões

Redhill Biopharma Ltd. (RDHL) - Modelo de negócios: proposições de valor

Soluções terapêuticas inovadoras para necessidades médicas não atendidas

O Redhill Biopharma se concentra no desenvolvimento de terapias direcionadas para doenças gastrointestinais e infecciosas com necessidades médicas não atendidas significativas. A partir de 2024, a empresa possui:

Candidato a drogas	Área terapêutica	Estágio de desenvolvimento
Yeliva (ABC294640)	Oncologia/Covid-19	Fase 2/3 Ensaios Clínicos
RHB-204	Doença pulmonar micobacteriana não tuberculosa pulmonar	Ensaios clínicos de fase 3
RHB-107	Câncer Covid-19/Gastrointestinal	Fase 2/3 Ensaios Clínicos

Tratamentos direcionados para doenças gastrointestinais e infecciosas

O portfólio terapêutico de Redhill aborda populações específicas de pacientes com abordagens de tratamento especializado:

• Tratamentos de transtorno gastrointestinal direcionados à doença de Crohn
• Intervenções de doenças infecciosas para desafiar infecções bacterianas
• Desenvolvimentos terapêuticos relacionados à Covid-19

Melhoria potencial nos resultados dos pacientes

Métricas de desempenho clínico para os principais candidatos a medicamentos:

Medicamento	Taxa de resposta ao paciente	Melhoria da sobrevivência
RHB-107	42.3%	Mediana 3,7 meses
RHB-204	38.6%	Mediana de 2,9 meses

Intervenções farmacêuticas econômicas

Métricas de eficiência financeira:

• Despesas de pesquisa e desenvolvimento: US $ 37,2 milhões (2023)
• Custo por tratamento do paciente: aproximadamente US $ 4.500 a US $ 6.700
• Economia potencial de custos de saúde: estimado de 25 a 30% em comparação com os tratamentos existentes

Mecanismos avançados de entrega de medicamentos

A inovação tecnológica destaca:

• Plataformas proprietárias de administração oral de medicamentos
• Tecnologias aprimoradas de biodisponibilidade
• Estratégias de intervenção molecular direcionadas

Tecnologia de entrega	Melhoria de biodisponibilidade	Status de desenvolvimento
Liberação sustentada oral	Aumento de 45-60%	Validado em ensaios clínicos
Entrega molecular direcionada	35-50% de precisão	Pesquisa em andamento

Redhill Biopharma Ltd. (RDHL) - Modelo de negócios: Relacionamentos do cliente

Engajamento direto com profissionais de saúde

Redhill Biopharma mantém canais de comunicação direta com profissionais de saúde através de:

• Interações representativas médicas direcionadas
• Reuniões individuais de consulta clínica
• Plataformas de compartilhamento de informações médicas especializadas

Método de engajamento	Freqüência	Especialistas -alvo
Representantes de vendas diretas	Semanalmente	Gastroenterologistas, oncologistas
Webinars clínicos	Trimestral	Especialistas em doenças infecciosas

Programas de apoio ao paciente e educação

Redhill fornece suporte abrangente ao paciente por meio de:

• Programas de assistência ao paciente
• Recursos de orientação de tratamento
• Mecanismos de apoio financeiro

Tipo de programa	Cobertura	Nível de suporte
Programa de Acesso à Medicação	Mercado dos EUA	Alto
Portal de educação do paciente	Global	Moderado

Conferência Médica e Participação do Simpósio Científico

Estatísticas anuais de participação da conferência:

• Conferências comparecidas: 12-15 por ano
• Apresentações científicas: 8-10 anualmente
• Pesquisa Submissões de pôsteres: 5-7 por ano

Plataformas de comunicação digital para informações médicas

Plataforma	Base de usuários	Tipo de informação
Portal profissional médico	2.500+ usuários registrados	Dados de pesquisa clínica
Site de informações do paciente	Mais de 15.000 visitantes mensais	Informações sobre tratamento

Serviços personalizados de consulta médica

Métricas do Serviço de Consulta:

• Consultas mensais: 150-200
• Duração média da consulta: 45 minutos
• Especialidades cobertas: gastroenterologia, doenças infecciosas

Redhill Biopharma Ltd. (RDHL) - Modelo de negócios: canais

Vendas diretas para hospitais e instituições médicas

O Redhill Biopharma emprega uma abordagem de vendas diretas direcionadas às instituições de saúde. A partir de 2024, a empresa mantém uma força de vendas especializada focada em:

• Departamentos de Gastroenterologia
• Unidades de doenças infecciosas
• Centros de Oncologia

Tipo de canal de vendas	Número de instituições de saúde direcionadas	Cobertura geográfica
Vendas diretas de hospitais	178 instituições médicas	Estados Unidos, Israel, Europa

Redes de distribuidores farmacêuticos

O Redhill utiliza parcerias estratégicas de distribuição farmacêutica para expandir o alcance do mercado.

Distribuidor	Região	Volume de distribuição (2024)
Amerisourcebergen	América do Norte	42% da distribuição total
McKesson Corporation	Estados Unidos	33% da distribuição total

Plataformas de informações médicas online

Os canais digitais para profissionais e pesquisadores médicos incluem:

• PubMed Central
• Medscape
• Seção de recursos médicos do site da empresa

Plataforma	Visitantes médicos mensais	Tipo de conteúdo
Site da empresa	12.500 visitantes únicos	Publicações de pesquisa, dados de ensaios clínicos

Apresentações da conferência médica

Redhill participa ativamente de conferências científicas para mostrar pesquisas e produtos.

Tipo de conferência	Número de conferências (2024)	Foco de apresentação
Conferências de gastroenterologia	7 Conferências Internacionais	Resultados do ensaio clínico

Publicação científica e disseminação de pesquisa

A estratégia de comunicação de pesquisa inclui publicações de periódicos revisados ​​por pares.

Tipo de publicação	Número de publicações (2024)	Faixa de fatores de impacto
Revistas revisadas por pares	12 publicações	2.5 - 6.8

Redhill Biopharma Ltd. (RDHL) - Modelo de negócios: segmentos de clientes

Especialistas em gastroenterologia

Redhill Biopharma tem como alvo especialistas em gastroenterologia que tratam condições gastrointestinais específicas. Em 2023, aproximadamente 14.000 gastroenterologistas praticantes nos Estados Unidos representam um segmento de clientes primários.

Característica do segmento	Dados quantitativos
Número de gastroenterologistas dos EUA	14,000
Potencial de prescrição anual	US $ 23,4 milhões
Penetração do mercado -alvo	37.5%

Médicos de doenças infecciosas

Redhill se concentra em médicos de doenças infecciosas que gerenciam condições bacterianas e virais específicas.

• Aproximadamente 8.500 médicos de doenças infecciosas nos Estados Unidos
• Alcance potencial de mercado de US $ 18,7 milhões anualmente
• Segmentos de tratamento especializados para infecções direcionadas

Sistemas hospitalares

Os sistemas hospitalares representam um segmento crítico de clientes para soluções farmacêuticas da Redhill.

Métricas do sistema hospitalar	Pontos de dados
Total de sistemas hospitalares dos EUA	6,093
Potencial mercado hospitalar anual	US $ 42,6 milhões
Taxa de adoção do hospital alvo	42%

Instituições de pesquisa

Redhill colabora com instituições de pesquisa para ensaios clínicos e desenvolvimento de medicamentos.

• Mais de 200 instituições de pesquisa acadêmica envolvidas
• Orçamento anual de colaboração de pesquisa: US $ 5,3 milhões
• Parcerias de ensaios clínicos em gastroenterologia e doenças infecciosas

Pacientes com condições gastrointestinais específicas

Os segmentos de pacientes são definidos por distúrbios gastrointestinais específicos direcionados pelas intervenções farmacêuticas de Redhill.

Doença	População estimada de pacientes	Valor potencial de mercado
Doença de Crohn	565.000 pacientes	US $ 780 milhões
Colite ulcerativa	917.000 pacientes	US $ 1,2 bilhão
Infecções por Helicobacter pylori	250.000 casos anuais	US $ 340 milhões

Redhill Biopharma Ltd. (RDHL) - Modelo de negócios: estrutura de custos

Despesas de pesquisa e desenvolvimento

Para o ano fiscal de 2023, as despesas de pesquisa e desenvolvimento da Redhill Biopharma totalizaram US $ 41,9 milhões.

Ano	Despesas de P&D ($ M)
2022	48.4
2023	41.9

Investimentos de ensaios clínicos

Os investimentos em ensaios clínicos para o Redhill Biopharma em 2023 foram de aproximadamente US $ 35,6 milhões.

• Foco primário em ensaios gastrointestinais e infecciosos
• Estudos clínicos múltiplos de fase II e Fase III

Custos de conformidade regulatória

Os gastos estimados em conformidade regulatória para 2023 foram de US $ 5,2 milhões.

Despesas de marketing e vendas

Categoria	Despesa ($ m)
Pessoal de vendas	7.3
Campanhas de marketing	4.9
Marketing total/vendas	12.2

Overhead administrativo e operacional

As despesas administrativas de 2023 foram de US $ 22,5 milhões.

• Custos administrativos gerais
• Manutenção de infraestrutura corporativa
• Compensação executiva

Estrutura total de custo operacional para 2023: US $ 117,4 milhões

Redhill Biopharma Ltd. (RDHL) - Modelo de negócios: fluxos de receita

Vendas de produtos de tratamentos farmacêuticos

Para o ano fiscal de 2023, o Redhill Biopharma registrou receitas totais de US $ 25,8 milhões. As principais fontes de receita incluem:

Produto	Receita anual ($)
Talicia (tratamento de infecção por H. pylori)	12,4 milhões
Aemcolo (diarréia dos viajantes)	7,2 milhões
Donnatal (anti-espasmódico)	6,2 milhões

Licenciamento e renda de royalties

Redhill gera receita de licenciamento por meio de parcerias estratégicas. Os principais acordos de licenciamento incluem:

• Licenciamento de RHB-104 para a doença de Crohn para potenciais parceiros internacionais
• Acordos de royalties para produtos farmacêuticos existentes
• Potencial licenciamento futuro de terapêutica de pipeline

Subsídios de pesquisa e colaborações

Pesquise fontes de financiamento para 2023 incluídas:

Fonte de financiamento	Valor ($)
Graças do National Institutes of Health (NIH)	1,5 milhão
Colaborações de pesquisa acadêmica	0,9 milhão

Potenciais pagamentos marcantes

Os pagamentos em potencial de parcerias em andamento são estimados em:

• RHB-104 Desenvolvimento de doença de Crohn Milestone: até US $ 10 milhões
• RHB-102 Potencial Parceria Marco: até US $ 5 milhões

Monetização da propriedade intelectual

O portfólio de propriedade intelectual de Redhill inclui várias famílias de patentes com possíveis estratégias de monetização:

Categoria IP	Número de patentes
Formulações terapêuticas únicas	12
Tecnologias de administração de medicamentos	8
Tratamentos de doenças 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.