Biocon Press Conference FY13 Results - April 26, 2013


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Biocon Press Conference FY13 Results - April 26, 2013

  1. 1. Press ConferenceFY13 ResultsApril 26, 2013www.biocon.comInnovative ScienceAffordable Medicine
  2. 2. 2Certain 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 todiffer materially from those contemplated in such forward-looking statements. Important factors that couldcause actual results to differ materially from our expectations include, amongst others general economic andbusiness conditions in India, our ability to successfully implement our strategy, our research anddevelopment efforts, our growth and expansion plans and technological changes, changes in the value of theRupee and other currency changes, changes in the Indian and international interest rates, change in laws andregulations that apply to the Indian and global biotechnology and pharmaceuticals industries, increasingcompetition in and the conditions of the Indian biotechnology and pharmaceuticals industries, changes inpolitical conditions in India and changes in the foreign exchange control regulations in India. Neither ourcompany, nor our directors, nor any of their respective affiliates have any obligation to update or otherwiserevise any statements reflecting circumstances arising after this date or to reflect the occurrence ofunderlying events, even if the underlying assumptions do not come to fruition.Disclaimer
  3. 3. 3Financial PerformanceIn Rs. croreFY13 FY12 % GrowthRevenue 2,538 2,148 18%EBITDA 596 579 3%PAT* 509 338 50%EPS 25.4 16.9*Includes exceptional itemsDividend of Rs. 5/share (100%) and a Special Dividend of Rs. 2.50/share(50%) following the re-licensing of insulin analogs portfolio
  4. 4. 4• FY13 robust growth driven by Research Services, BrandedFormulations & Biosimilars (led by Insulins)o Research Services:Rs. 557 crores, 36% YoY increaseo Branded Formulations: Rs. 347 crores, 34% YoY growtho Biopharma Business: Rs. 1,523 crores, 10% YoY increase• US $ 20 million received as upfront from Mylan, for furtherdevelopment of generic insulin analogs partnership• R&D expenditure: Rs 164 crores, a 20% increase: Necessaryinvestment to drive exponential growth in the futureFY13 Key Financial Highlights
  5. 5. Dan Bradbury joins Biocon Board• Daniel M. Bradbury former CEO of Amylin Pharmaceuticalsjoins as an additional non-executive board member ofBiocon Limited.• Dan is a Life Sciences Executive with over 30 years ofexperience in creating and implementing strategies thattransform businesses, bring novel medicines to market andmaximize shareholder value.5
  6. 6. Key Developments6
  7. 7. Recent Developments• Mylan expands the scope of its partnership to include Insulin analogs• Global phase 3 trial for Trastuzumab gains momentum in Europe• ANDA portfolio with 20+ products7• Launch of AlzumabTM: NovelBiologic for Psoriasis, on track,to hit the Indian market soon• GE investment of Rs 125 Croresin Syngene will fuel the nextphase of growth in researchservices
  8. 8. Biocon Mylan Partnership Extended to Insulin Analogs• Exclusive strategic collaboration for the globaldevelopment and commercialization of three genericinsulin analog products: Glargine, Lispro and Aspart• Biocon and Mylan will share development costs andcontribute to capital expenditure to bring the products tomarket• Mylan will have– Exclusive commercialization rights in the U.S., Canada,Australia, New Zealand, the European Union and theEuropean Free Trade Association countries through a profitshare arrangement with Biocon– Co-exclusive commercialization rights with Biocon in certainother markets around the world• Biocon will also manufacture these products and willcommercialize in rest of the world markets directly orthrough existing regional partners• Biocon has received USD 20 million as upfront development fee. 8
  9. 9. Key Recognitions• Able 10th Anniversary Award :Outstanding Contribution to thegrowth & development ofBiopharmaceuticals in India for overa decade: 2002-12• ABLE 10th Anniversary LeadershipAward conferred upon Ms KiranMazumdar-Shaw for her outstandingcontribution as the FoundingPresident of ABLE: 2003-2006• India Star Award for innovativepackaging – infusion vial with ahanger label and protective tray, byIndian Institute of Packaging.9
  10. 10. Business Update10
  11. 11. 11NovelMoleculesUnlock ValuethroughLicensingGrowthSegmentsANDAs & 505(b)(2) filingsSmallMoleculesResearchServicesIntegratedofferingsInsulins, MAbs& OtherBiologicsBiosimilars& InsulinsRapidly growing-India-centric businessBrandedFormulationsEMERGING MARKETS FOCUSEmerging Markets FocusKey Business Verticals
  12. 12. 12Aspirational Growth Trajectory - $ 1 Bn in sales by 2018FY 12 A2015 E2018 ESmall MoleculesBiosimilars (Insulins + MAbs)Research ServicesBranded FormulationLicensing & Other Income~ $450 Mn$1 Billion +~ $700 MnEstimated Growth CAGR: 18%Estimated Growth CAGR: 18%
  13. 13. 13Small Molecules• Strong performance led byFidaxomicin & Immuno-suppressants• Statins portfolio expanded further• ANDA portfolio to leverage verticalintegration• Product portfolio of 20+ underdevelopment
  14. 14. 14InsulinsInsulin Business contributes more than10% of our sales• Registrations in over 40countries for generic insulin• Generic Insulin: Clinical &Regulatory Development for USmarketing registration tocommence in FY14• Generic Insulin: EU Phase III 12Mclinical study results awaits thefinal study report for completingour dossier. Post EMEA meetingwe will file for MA
  15. 15. 15Biosimilars ProgramTrastuzumab, Pegfilgrastim,Bevacizumab, Adalimumab,Etanercept programs areprogressing well•Opportunity Size: ~ USD 34 Bn•Global phase III for biosimilartrastuzumab underway• Trial approvals include keyEU countries like Germany•Patient recruitment for India basedPhase III trial completedInsulin Analogs ProgramFor Glargine, Lispro, Aspart•Opportunity Size: ~ USD 13 Bn•Glargine Registrations in over 5countries•Global Phase I (PK-PD) studysuccessfully completed•Established equivalence betweengeneric insulin glargine and theinnovator product•Generic Insulin Glargine toinitiate global Phase 3 studiespost USFDA meetingPartnership for Biosimilars & Insulins
  16. 16. Novel Molecules• IN-105: Oral Insulin clinicaldevelopment progressing wellunder guidance from our partnerBMS• Clinical studies to begin soon inEU/US/India post regulatoryapprovals• Itolizumab: Anti-CD6 antibodydevelopment work in progress forother indications• Positive feedback from Pre INDmeeting with USFDA• Data Package being tailored for USIND filing16PhysiologicalBenefitsPotential Therapeutic UseClinicalBenefits
  17. 17. 17Branded Formulations: Growing ahead of the Industry• Robust growth of 34% to Rs 347crore from Rs 259 crore in FY13• Driven by Oncology, Diabetology,Comprehensive Care and Bioproductsdivisions• Biologics, sales led by Insugen™,Basalog™ and BioMab EGFR™,Myokinase and Erypro contributedabout 50% to BF revenue• 15% market share in 100 IU Insulinby value, 84% MS in Glargine VialsBiocon Rankings *#4 in overall insulin mkt#3 in the 40 IU Insulin mkt#1 in the Glargine vial mktKey brands in Top 3 rankingsPsorid® (#1),Picon® (#2), Tbis® (#2)BioMab (#2), Myokinase (#2),Abraxane (#3), Albubet® (#3)
  18. 18. 18Branded Formulations: Key Developments
  19. 19. 19Insugen 40 IU 3Basalog vials 1Clotide 2Myokinase 2BIOMAb EGFR 2Evertor 2Abraxane 3Psorid 1Picon & Tbis 2Tacrograf 3Cymgal 3Genpirome 2Cegava TZ 2IVNEX Safe 2ALBUBET Safe 3INDIA PRODUCT RANKINGS#Branded Formulations: Top Brands*ORG IMS Feb 2013Several Brands in Top Three
  20. 20. 20Research Services• FY 13 revenues cross $ 100 Mnmilestone• Robust growth of 36 %• Wide range of scientific platforms enableservicing customers in diverse sectorslike pharma, biotech, nutritional,consumer health, agrochemical &electronics• Strong order book• GE Capital Investment in Syngenecompleted. Will spur the growth in FY 14
  21. 21. 21o Small Molecules - Improved product Mix: $280 Mno Research Services - Sustained Growth Momentum : $175 Mno Branded Formulations - Differentiated Value offerings :$140 Mno Biosimilars - Geographical Expansion :$70 Mno Novel Molecules - Out-licensing and Global Development :$35 MnReaching $700 Mn by 2015Reaching $700 Mn by 2015Looking Ahead: Immediate Goal Post2015 E~$700 Mn
  22. 22. 22• Thrust on Increasing Market Share ofInsulins in Emerging Markets• Move up the Value Chain:DMFs to ANDAs in USAPIs to Finished Dosage in EU/Japan• Focus on building brand value andmarket share in Indian market• Expand customer base for integratedresearch servicesTowards US$ 1 Bn by 2018
  23. 23. Corporate Social Responsibility23
  24. 24. 24VISION: To promote social and economic inclusion byensuring that marginalized communities have equalaccess to healthcare services and educationalopportunities.o CSR initiatives aligned with the growing healthissues of the communities we serveo Focus on integrated healthcare programs andprimary educationFocus on Making a DifferenceIntegrated HealthcarePreventive HealthPrimary Healththrough ArogyaRakshaInfrastructureEducation
  25. 25. 25CSR InitiativesFY13 Highlights:oMangalgudda village : Most families havemoved into over 410 new houses equippedwith a Solar Light, toilet and bathroom foreach houseoFrom 11,000 books in 2006 to over1,00,000 Maths Work Books ‘ChinnaraGanitha’ are making Maths Learning aninteresting experience for children inprimary schools in eight districts ofKarnatakao Oral Cancer Screening conducted in High Risk Groups in three pilot villageso Early detection of Cervical Cancer through Screening special program rolled outo Malnutrition in Children, a serious health issue accounts for 50% childhood deathsis being addressed by Biocon Foundation in Bagalkot along with the Govto 9 Arogya Raksha Primary Healthcare Clinics, continue to provide primaryhealthcare services, 75,000 patients benefitted this year
  26. 26. THANK YOU26