Call Girls Vasai Virar Just Call 9630942363 Top Class Call Girl Service Avail...
Biocon Investor Presentation Jan 2013
1. Innovative Science
Affordable Medicine
INVESTOR PRESENTATION
January 2013
www.biocon.com
2. Safe Harbor
Certain statements in this release concerning our future growth prospects are forward-looking
statements, which are subject to a number of risks, uncertainties and assumptions that could cause
actual results to differ materially from those contemplated in such forward-looking statements.
Important factors that could cause actual results to differ materially from our expectations include,
amongst others general economic and business conditions in India, our ability to successfully
implement our strategy, our research and development efforts, our growth and expansion plans and
technological changes, changes in the value of the Rupee and other currencies, changes in the Indian
and international interest rates, change in laws and regulations that apply to the Indian and global
biotechnology and pharmaceuticals industries, increasing competition in and the conditions of the
Indian biotechnology and pharmaceuticals industries, changes in political conditions in India and
changes in the foreign exchange control regulations in India. Neither the company, nor its directors and
any of the affiliates have any obligation to update or otherwise revise any statements reflecting
circumstances arising after this date or to reflect the occurrence of underlying events, even if the
underlying assumptions do not come to fruition.
2
3. Agenda
Biocon: Aligned With Global Trends
Growth Segments
Partnerships
Financial Highlights
3
5. Biocon: An Introduction
Biocon is an emerging, global Bio-pharmaceutical enterprise,
focused on innovation to develop affordable products and services
for patients, partners and healthcare systems across the world.
Biocon is committed towards:
Reducing therapy costs of chronic diseases. (diabetes, cancer & auto-immune diseases)
Strategic Research and marketing partnerships that provide global access
Leveraging the India advantage to deliver high value, licensable R&D assets
5
6. 9M FY13 Highlights
Group Revenue at ` 1,890 Crores (23% YoY growth)
Financial Growth across all verticals:
Performance Biopharma - 17%
Branded Formulations - 35%
Research Services - 34%
EBITDA at ` 472 Crores (EBITDA Margin: 25% )
R&D Expense: 11% of Biopharma Revenue
Itolizumab: Marketing Approval received from DCGI for plaque Psoriasis in
Research & India
Development Entered into an option agreement with BMS for our novel asset, a prandial
Updates oral insulin: IN-105
Global Phase III trial initiated for Biosimilar Trastuzumab post the successful
completion of its Global Phase I
Part II of the EU Phase III trial for biosimilar rh-Insulin completed. Part 1 of
the trial successfully established the efficacy endpoint with comparable
safety & efficacy with innovator products.
Global Phase I trial for Biosimilar Insulin Glargine successfully completed.
6
7. 9M FY13 Highlights
GE Capital proposes Investment to the tune of `125 Crores in
Corporate Syngene
Milestones
Commencement of Abbott Nutrition Research & Development Centre
Inauguration of Biocon Research Centre
Becomes the only Asian Company to feature in Science magazine’s
global ‘Top 20 Employers’ in biotech & pharma
7
8. Business Structure & Holdings
BIOPHARMA SUBSIDIARIES
Biocon Research , India | 100%
R&D- Novel Molecules
Biocon Biopharmaceuticals | 100%
MAbs and Biosimilars
Biocon Sdn. Bhd, Malaysia | 100%
Overseas subsidiary
~61% | Promoters
Biocon SA, Switzerland | 100%
Overseas subsidiary
~ 8 % | Employees & ESOP trust Biocon NeoBiocon, UAE | 50%
~31 % | Public Overseas subsidiary
RESEARCH SERVICES
Syngene International, India | 99%
Custom research, drug discovery
Clinigene International, India | 100%
Clinical development
Spanning the entire Value Chain with capabilities ranging from
discovery to manufacturing 8
9. Growth Verticals: Aligned with Shifting Paradigms
ANDAs & 505(b)(2) filings
Small
Molecules
Insulins, MAbs &
Integrated Other Biologics
offerings Research Biosimilars
Services (Biologics &
Growth Insulins)
Verticals
Unlock Value Novel Branded Rapidly growing-
through Molecules Formulations India-centric business
Licensing
9
EMERGING MARKETS FOCUS
EMERGING MARKETS FOCUS
11. Growth Segment: Small Molecules
APIs Formulations 505(b)(2)
(Generic & Novel) & ANDAs
Portfolio based Approach
Product Portfolio which leverage our core fermentation capabilities and have a high degree
of complexity
Early mover in niche products coupled with economies of scale.
Current Portfolio Constituents
Statins Simvastatin, Atorvastatin, Lovastatin, Rosuvastatin, Fluvastatin & Pravastatin
Immuno suppressants Tacrolimus, MMF & MPA
Other Biopharma Orlistat, Fidaxomicin, 50+ other molecules
11
12. Growth Segment: Biosimilars
Biosimilars Pipeline
Process Development / Phase Phase
Portfolio Biosimilar Molecule Scale-up / Preclinical 1/II b III
Market
Global Trials
rh- Insulin
Biosimilar
Glargine
Insulins
Lispro & Aspart
Trastuzumab
Biosimilar MAbs
and other Bevacizumab, Adalimumab
biologics
Etanercept, Peg-filgrastim
Emerging Markets First strategy coupled with a regional partnership commercialization approach
Biosimilar Insulins Portfolio: Currently being commercialized in Emerging Markets
Biosimilars MAbs & Other Biologics:
Biosimilar Trastuzumab undergoing an ROW focused, India Phase III trial.
12
13. Growth Segment: Biosimilars
Biosimilar Insulin & Analogs
Registrations:
rh-Insulin: 40+ countries Glargine
Glargine: 5+ countries 34%
Biosimilar rh Insulin:
Part 2 of the EU Phase III trial
completed. Total Insulins
Part 1 of the study establishes the Market: Aspart
Efficacy end-point (non inferiority to rh-Insulin ~ USD 18 Bn* 23%
innovator product) 19%
Immunogenicity & Safety data similar to
innovator at 6 month time point.
Detemir
Lispro
Biosimilar Glargine: 9%
14%
Global Phase I (PK-PD) study
successfully completed
Established equivalence between our Glulisine
biosimilar insulin glargine and the 1%
innovator product
13
*Market Size of innovator products MAT Sept 2012
16. Growth Segment: Branded Formulations
Biocon’s Volume Value Growth YoY* Biocon’s ranking*
Market share*
Fastest growing Insulin company
#4 in overall insulin market
100 IU Insulin: 15% Biocon: 34%
Sanofi Aventis: 17% #3 in the 40 IU Insulin market
Glargine vials: 72%
Novo Nordisk: 10% #1 in the Glargine vial market
INSUPen® ease
Reusable delivery device based
on proprietary German
technology, capable of
delivering both InsugenTM &
BasalogTM launched in India &
Select Emerging Markets
16
* : ORG IMS MAT November 2012
17. Growth Segment: Novel Molecules
Novel Pipeline
Pre- Phase Phase Phase
Therapeutic Area Molecule Discovery
Clinical 1 II III
Market
Diabetes IN-105
Oncology/ Autoimmune Itolizumab #
Oncology Nimotuzumab
Oncology Anti CD – 20
Oncology Fusion Proteins
Itolizumab: Marketing Authorization for Psoriasis approved by the Indian drug regulator
Anti CD 20 (BVx 20) has entered the clinic in India
Multiple Global Trials planned for Oral Insulin in collaboration with BMS 17
18. Growth Segment: Novel Molecules
Alzumab (Itolizumab- First-in-Class Anti CD6)
Marketing Authorization for Itolizumab (IV
First-in-Class Therapy :Novel MOA with an
delivery) received from Indian Drug regulator
excellent safety profile
for Psoriasis
Very low Infection rates vis-à-vis other
Alzumab India launch in 2013
approved therapies
2nd Novel Biologic from Biocon’s repertoire:
Promising preclinical and clinical efficacy data
First Novel MAb for Psoriasis developed in
in other auto immune diseases (RA, MS)
India
Partnership discussions initiated for global
US IND to be filed in 2013 to facilitate global
development of this late stage opportunity
clinical trials in Psoriasis, RA and other
indications as Sub Q
Baseline 12 Weeks 28 Weeks
Treatment
Arm
18
19. Growth Segment: Research Services
• Integrated Drug Discovery and Development
• Biologics Discovery and Development
Integrated
• Syngene- Clinigene axis
Platforms
• Bioanalytical testing of small and large molecules
• Antibody Drug Conjugate (ADC) development
• Unique In-Vivo Models- Human tumour tissue Xenograft Niche
• Early and rapid toxicology evaluation (Cardiomyocytes ) Offerings
• Commercial scale production of NCEs Evolving
• High potency (cytotoxic) API manufacturing Services
• Formulation development
• Dedicated/customized infrastructure Customized
• End-to-end services models
• Risk sharing: Milestone based
• Incubation: IP sharing
19
20. Growth Segment: Research Services
` crore
410
o PE Investment of $ 25 Mn for a 7.7%
stake, valuing Syngene at $ 325 Mn
318
o Investment aimed at enhancing 281
Syngene’s service offerings & fund
future growth
o Dedicated, India-centric nutrition
R&D Centre
o Focused on:
• Maternal & Child Nutrition
• Diabetes Care FY 10 FY 11 FY 12
20
22. STRATEGIC PARTNERSHIPS
BMS Diabetology Oral Insulin (IN-105)
Discovery & CIMAb Oncology BioMAb EGFR, Itolizumab
Development IATRICa Oncology Immuno-conjugated MAbs
Vaccinex Oncology Biobetter MAbs
Co-Development & Oncology & Biosimilar MABs &
Mylan
Commercialization Auto Immune Biologics
First in Class
Commercialization Optimer Fidaxomicin
Anti Infective
Discovery to
BMS Integrated DD Services
Commercialization
Research Services
Integrated discovery
Abbott Nutrition R&D
services
22
23. IN-105 Option Agreement: BMS
First-in-class oral prandial insulin
Combines Biocon's novel asset and development
experience with BMS’ novel drug development,
regulatory & commercialization capabilities.
Biocon will continue global development of the molecule through Phase II
via redesigned trials.
.
Partnership encompasses Financial, Strategic and Clinical Support throughout
the development phase
BMS will have an exclusive option post phase II to further develop &
commercialise the asset worldwide (excl. India)
Biocon will receive licensing fee in addition to potential regulatory &
commercialization milestones, when BMS exercises its option.
23
24. Fidaxomicin Partnership: Optimer
First-in-class Anti-Infective
Combines Biocon's R&D and manufacturing prowess of
novel biologics with Optimer’s proprietary
molecule technology
Collaboration for manufacture & supply of
Fidaxomicin API : DIFICIDTM & DIFICLIRTM tablets
.
Extension of prior relationship where Biocon assisted Optimer
with product development
Launched in US & select East European nations in first phase;
Alliances established for Japan, LATAM &
24
25. Biosimilars Commercialization Partnership: Mylan
Monoclonal Antibodies (MAbs)
Combines Biocon's R&D and manufacturing prowess of
biologics with Mylan’s regulatory & commercialization
capabilities in the US and Europe
Market Value of Portfolio : ~33 Bn USD
Exclusive collaboration for development and commercialization of
.
complex biosimilars.
Basket of Products with patent expiries 2015 onward
(Trastuzumab, Peg-filgrastim, Bevacizumab, Adalimumab, Eternacept)
Mylan and Biocon to share development and capital costs.
Mylan will have exclusive commercialization rights in the regulated markets;
profits to be shared
Biocon and Mylan to have co-exclusive commercialization rights in other markets.
25
*Market Size of innovator products MAT Sept 2012
31. Global Pharma Growth Catalyst: Emerging Markets
Emerging Markets to contribute ~ 75% of the Total Pharma Growth by 2016
USD Bn
~180 ~1,205
Global Pharma Spending expected to cross
$1.2 Trillion by 2016
~70
Emerging Markets projected growth CAGR:
~10% ~955
Developed Markets expected growth Global Pharma Market
CAGR: ~2%
~ 5% CAGR
Emerging Markets growth driven by:
Increased Government Healthcare
Spending
Growing Affluence
2011 A Developed Emerging Markets 2016 E
Markets
31
Source: IMS Institute of Healthcare informatics,The Global Use of Medicines: Outlook Through 2016
32. Global Pharma Growth Catalyst: Generics & Biosimilars
Generic Spending to Increase by ~75% in the next 5 years vs. Branded drugs’ growth of 9% USD Bn
Biosimilars
Biosimilars will grow 5 fold to $5 Bn ~5
~1,205
Biosimilars
956 ~1
Generic
430
Generic
242
Small
Molecules,
Small
~ 425
Molecules,
~ 241
Branded* Branded*
714 745
Back
2011 2016 E *includes: OTC, diagnostics and non-therapeutics sales worth
$118 Bn in 2011 and $145 Bn in 2016 E
32
Source: IMS Institute for Healthcare Informatics, IMS Market Prognosis, May 2012