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The document provides an investor presentation for Sun Pharmaceutical Industries Limited. It summarizes Sun Pharma's position as the 4th largest global specialty generic company, with a presence in over 100 countries. It outlines Sun Pharma's long-term strategy of enhancing its specialty business portfolio and achieving differentiation through complex products. The presentation provides details on Sun Pharma's revenue composition, history of growth and acquisitions, operations, and financial performance.

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Creating Lasting Value Investor Presentation – September 2022 NSE:SUNPHARMA | BSE:524715 | Bloomberg:SUNP IN | Reuters:SUN.BO WWW.SUNPHARMA.COM
Except for the historical information contained herein, statements in this presentation and the subsequent discussions, which include words or phrases such as “will”, “aim”, “will likely result”, “would”, “believe”, “may”, “expect”, “will continue”, “anticipate”, “estimate”, “intend”, “plan”, “contemplate”, “seek to”, “future”, “objective”, “goal”, “likely”, “project”, “should”, “potential”, “will pursue” and similar expressions or variations of such expressions may constitute "forward-looking statements". These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to successfully implement our strategy, our growth and expansion plans, obtain regulatory approvals, our provisioning policies, technological changes, investment and business income, cash flow projections, our exposure to market risks as well as other risks. Sun Pharmaceutical Industries Limited does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof. Disclaimer 2
Contents 3 Sun Pharma at a glance 1 Long-term Strategy 2 Global Specialty Initiatives 3 Revenue Composition, History & Acquisition Track Record 4 Business Operations, R&D, Manufacturing 5 Corporate Governance 6 Financials – P&L, Balance Sheet, Cash Flows & Ratios 7 Key Milestones Targeted 8
4 Sun Pharma at a glance 4th Largest Global Specialty Generic Company* 4th Largest Global Specialty Generic Company* • Ranked 8th in US Generics Market## US US • No. 1 Pharma Company in India India India • Amongst the largest Indian Pharma Company in Emerging Markets Emerging Markets Emerging Markets • Expanding presence in Rest of World markets Rest of World Markets Rest of World Markets • 43 manufacturing sites across the world Manufacturing Footprint Manufacturing Footprint • Presence in more than 100 countries across branded and generic markets Market Presence Market Presence • 38,000+ global employee base Employees Employees • Multiple manufacturing facilities approved by various regulatory authorities across the world including USFDA Quality Compliance Quality Compliance • Capabilities across dosage forms like injectables, sprays, ointments, creams, liquids, tablets and capsules R&D and Manufacturing R&D and Manufacturing • Specialty products, branded generics, generics & APIs Addressable Segments Addressable Segments *Source: Evaluate Pharma Estimates for 12 months ended Dec 2021 ## Source: IQVIA data for 12 months ended April 2022
World’s 4th Largest Specialty Generic Pharma Co 1.6 1.7 1.7 1.8 1.9 1.9 2.1 2.2 2.8 3.2 3.3 4.0 4.5 5.6 8.3 9.2 Aspen Les Laboratoires Nichi-Iko Sawai Himka STADA Lupin Dr. Reddy Apotex Aurobindo Fresenius Pfizer Sun Pharma + Taro Viatris Teva Novartis 5 2021 Worldwide Generic Sales (US$ in billions) Source: Evaluate Pharma Estimates for 12 months ended Dec 2021
US Formulation 30% India Branded Generics 33% Emerging Markets 18% Rest of World (RoW)# 14% API & Others 5% FY22 India 35% International 65% FY22 Rest of World (RoW)  8th largest generics company in US* with a strong pipeline (89 ANDAs & 13 NDAs awaiting approval)  Presence in Specialty branded & generics segments with more than 560 approved products  FY22 sales: Rs. 113,737 mn 6 Sun Pharma today • Market cap: US$ 26 bn (1) • Gross Sales: Rs. 384,264 mn • EBITDA: Rs. 103,977 mn (26.9% margin) • R&D Investment: 5.8% of Sales • Globalized supply chain • Strong balance sheet • 54% owned by promoter group Note: (1) As of Sept, 15 2022 using spot exchange rate of INR /USD = 79.69 # Includes Western Europe, Canada, Japan, Australia & New Zealand, Israel and other markets. * Source: IQVIA data for 12 months ended April 2022  Presence in about 80 countries across Africa, Americas, Asia and Eastern & Central Europe  Key focus markets – Romania, Russia, South Africa, Brazil & Mexico and complementary & affiliated markets  FY22 sales: Rs. 67,432 mn  Presence across key markets in Western Europe, Canada, Japan, Israel, A&NZ and other markets  Product portfolio includes specialty products, differentiated offerings for hospitals, injectables & generics for retail market  FY22 sales: Rs. 54,545 mn  No.1 ranked with 11 classes of doctor categories  Leading position in high growth chronic therapies  Specializes in technically complex products  FY22 sales: Rs. 127,593 mn Geographical sales split Revenue Share India Branded Generics US Formulations Emerging Markets
• Enhance share of specialty business • Achieve differentiation by focusing on technically complex products • Focus on key markets – achieve critical mass • Speed to market • Ensure sustained compliance with global regulatory standards • Sustainability - Committed to Governance, Community Upliftment, Access to Affordable Healthcare & Environment Conservation • Increasing contribution of specialty and complex products • Future investments directed towards differentiated products Cost leadership Growth and Sustainability Driving Sustainable Long Term Growth 7 Business development • Optimize operational costs • Vertically integrated operations • Use acquisitions to bridge critical product/capability gaps • Focus on access to products, technology, market presence • Ensure acquisitions yield targeted return on Investment • Focus on payback timelines Balance profitability & investments for future
Our Specialty Portfolio 8 • Indication - For plaque psoriasis • Launched in US in October 2018 & in Australia in Dec-2018, Phased launch in Europe by Almirall starting December 2018 onwards • Long term clinical data shows that the significant response rate seen in 52 & 64 weeks were maintained over five years • Evaluating new indications for Ilumya - Phase-2 data shows potential to improve joint & skin symptoms of Psoriatic Arthritis. Commenced Phase-3 trials in 2020 • Out licensed to CMS for Greater China market & to Hikma for Middle East & North African markets • Launched in Japan in September 2020 and in Canada in October 2021 Ilumya/ Ilumetri Ilumya/ Ilumetri • Indication - For dry eye disease • Launched in US in October 2019 • Out-licensed to CMS for Greater China market in June 2019 • Launched in Canada in January 2022 Cequa Cequa • For the topical treatment of acne vulgaris in patients 12 years of age and older • Launched in US in November 2021 Winlevi Winlevi • Indication - For the treatment of severe recalcitrant nodular acne that cannot be cleared up by any other acne treatments, including antibiotics. • Launched in US in February 2020 Absorica LD Absorica LD • Indication – In combination with BLU-U (Blue Light Photodynamic Therapy Illuminator) for treatment of minimally to moderately thick actinic keratoses of the face, scalp, or upper extremities. • Currently marketed in US for actinic keratosis Levulan Kerastick Levulan Kerastick
Our Specialty Portfolio 9 • Indication - For LABCC (locally advanced basal cell carcinoma) • Currently marketed in US, Canada, Germany, France, Denmark, Switzerland, Spain, Italy, Australia and Israel Odomzo Odomzo • Indication - For metastatic castration resistant prostate cancer in combination with methylprednisolone • Launched in US in May 2018 Yonsa Yonsa • Indication - For prevention of ocular pain & treatment of inflammation following cataract surgery • Launched in US in November 2016 Bromsite Bromsite • Indication - For reduction of elevated IOP in patients with open-angle glaucoma or ocular hypertension • BAK (Benzalkonium chloride) free form of latanoprost • Launched In US in January 2019 Xelpros Xelpros • Products using sprinkle technology for patients who have difficulty swallowing • Sprinkle versions of metoprolol (cardiology), rosuvastatin (cardiology) & duloxetine (neuro- psychiatry) commercialized in US between 2018-2019 • Therapeutic solutions for long-term care (LTC) patients Sprinkle Portfolio Sprinkle Portfolio
Creating Lasting Value - Investor Presentation Our Specialty Pipeline Molecule/Asset Indication Route of Administration Mechanism of Action Pre-clinical Phase-1 Phase-2 Phase-3 Registration Approved Ilumya (tildrakizumab) Psoriatic Arthritis Injection IL-23 Antagonist SCD-044 Psoriasis, Atopic Dermatitis Oral Selective SIPR1 Agonist MM-II Treatment of pain in osteoarthritis Injection Liposomal intra -articular lubrication GL0034 Type 2 Diabetes Injection GLP-1R Agonist 10
11 Highly Diversified Revenue Base US Formulations 30% India Branded Formulations 33% Emerging Markets 18% Rest of World (RoW)# 14% API & Others 5% # Includes Western Europe, Canada, Japan, Australia & New Zealand, Israel and other markets. FY22 Sales Rs. 384 billion
0.0 15.2 33.9 74.9 FY07 FY12 FY17 FY22 2.4 22.3 70.8 89.8 FY07 FY12 FY17 FY22 21.4 80.1 302.6 384.3 FY07 FY12 FY17 FY22 3.3 11.1 29.0 32.0 FY07 FY12 FY17 FY22 12 Impressive Track Record of Growth Sales 6.7 32.5 100.8 104.0 FY07 FY12 FY17 FY22 7.8 26.6 69.6 76.7 FY07 FY12 FY17 FY22 CAGR 21% CAGR 16% CAGR 20% CAGR 27% CAGR 16% EBITDA Adjusted Net Profit Operating Cash Flow Adjusted EPS (Rs/Share) (All Figures in Rs Billion) Free Cash Flow CAGR for FY07-FY22 CAGR 69% CAGR 69%
16.6 11.9 19.3 29.5 FY19 FY20 FY21 FY22 9.4% 9.1% 12.5% 15.0% FY19 FY20 FY21 FY22 11.8% 11.0% 13.5% 16.4% FY19 FY20 FY21 FY22 72.6% 71.4% 73.9% 73.1% FY19 FY20 FY21 FY22 13 Profitability and Return Ratios 21.7% 21.3% 25.3% 26.9% FY19 FY20 FY21 FY22 13.5% 12.5% 17.8% 20.0% FY19 FY20 FY21 FY22 Gross Margin # EBITDA Margin Adjusted Net Profit Margin ROCE ROE Market Cap (USD Bn) # Gross margin= (Sales - Material Cost)/Sales*100) ROCE & ROE exclude one-time exceptional charges ROCE = EBIT / Average of (Total Assets – Current Liabilities) ROE = Net Profit / Average Shareholders Equity (Market Cap as on 31st March )
22% 21% 25% 27% 16% 17% 20% 19% FY19 FY20 FY21 FY22 14% 13% 18% 20% 9% 10% 14% 11% 73% 71% 74% 73% 64% 64% 65% 63% FY19 FY20 FY21 FY22 Gross margin= (Net Sales – Material Cost) / Net Sales * 100 #Top 9 Indian Pharma company include Aurobindo, Cadila Healthcare, Cipla, DRL, Glenmark, Ipca, Lupin, Torrent and Wockhardt. Profitability Sun Pharma Range of Top 9 Indian Pharma Cos. Average Adjusted Net Profit Margin EBITDA Margin FY19 FY20 FY21 FY22 Gross Margin 14
Began with 5 products Acquired Taro Acquired Dusa Acquired URL Pharma Creating a Global Company 15 IPO - Rs. 550 Mn raised Acquired Ranbaxy 38,000+ Global Employee Base Sun Pharma Today Invested ~Rs. 219 Bn in R&D till date (Since 1994) Part of NSE Nifty & BSE Sensex in India 43 Manufacturing facilities in 6 Continents 65% of sales from international markets Year Agreement with Merck for in- licensing Tildrakizumab Acquired InSite Vision ophthalmic portfolio • Entry into Japan -Acquired 14 brands from Novartis • Acquired Global rights for Cequa & Odomzo Acquired Pola Pharma in Japan Acquired Biosintez in Russia Specialty launches • Ilumya • Cequa • Odomzo • Absorica LD • Yonsa • Xelpros • Sprinkle products In-lincesed Winlevi® for acne treatment in US & Canada. Launched in US in Nov-21 Expanded Winlevi® licensing agreement to include Japan, A&NZ, Brazil, Mexico & Russia markets 1983 1994 2010 2012 2013 2014 2015 2016 2018 2019 2020 2021 2022
Key Deals & Rationale 16 Year Deals Country Rationale 2022 Expanded Winlevi® licensing agreement to include Japan, Australia, New Zealand, Brazil, Mexico & Russia markets Japan, Australia, New Zealand, Brazil, Mexico and Russia Topical treatment of acne vulgaris 2022 Acquired UractivTM Portfolio from Fiterman Pharma Romania Expand non-prescription product basket in Romania and neighbouring markets 2022 Taro (Sun's subsidiary company) acquired Alchemee Business from Galderma US, Japan, Canada Acquired the "Proactiv", "Restorative Elements" and "In Defense of Skin" brands. Strengthens Taro’s OTC portfolio 2021 In-licensed Winlevi® (clascoterone cream 1%) US & Canada Topical treatment of acne vulgaris 2020 Exclusive licensing agreement with Himka for Ilumya Middle East & North Africa Registration and commercialization of the product in all Middle East & North Africa (MENA) markets. 2020 Licensing agreement with SPARC for SCD-044 Global Potential treatment for psoriasis, atopic dermatitis & other auto-immune disorders 2020 In-licensed Triferic brand from Rockwell Medical Inc. (USA) India Expands nephrology portfolio in India - for treating anaemia in hemodialysis patients. 2019 Licensing agreement with Astrazeneca UK for ready-to-use infusion oncology products Mainland China Access to oncology market in Mainland China 2019 Licensing agreement with CMS for Tildrakizumab, Cequa & 8 generic products Greater China Access to Greater China market 2018 Acquired Pola Pharma in Japan Japan Access to Japanese dermatology market. 2016 Acquired global rights for Cequa & Odomzo Global Enhances specialty pipeline.
Key Deals & Rationale 17 Year Deals Country Rationale 2016 Acquired Biosintez Russia Local manufacturing capability to enhance presence in Russian market 2016 Licensing agreement with Almirall for Tildrakizumab for Psoriasis Europe Access to European market for Tidrakizumab 2016 Acquired 14 brands from Novartis Japan Entry into Japan 2016 Distribution agreement with AstraZeneca India Distribution services agreement in India for brand “Oxra” & “Oxramet”® (brands of dapagliflozin, used for diabetes treatment) 2015 Acquired InSite Vision Inc. US Strengthens branded ophthalmic portfolio in U.S. 2015 Distribution agreement with AstraZeneca India Distribution services agreement in India for brand “Axcer”® (brand of ticagrelor, used for the treatment of acute coronary syndrome) 2015 Sun Pharma – Ranbaxy Merger Global Markets Strengthen position in the Global Generic Pharma Industry, No.1 Pharma Company in India & Strong positioning in Emerging Markets 2014 In-licensing agreement with Merck for Tildrakizumab a biologic for psoriasis Global Markets Strengthening the specialty product pipeline 2014 Acquired Pharmalucence US Access to sterile injectable capacity in the US 2012 Acquired DUSA Pharma, Inc. US Access to specialty drug-device combination in dermatology segment 2010 Acquired Taro Pharmaceutical Industries Ltd. Israel Access to dermatology generic portfolio Manufacturing facilities at Israel & Canada 1997 Acquired Caraco Detroit, US Entry into US Market
US Business 18 30% of Revenues
19 US Business at a glance 8th Largest Pharma Company in the US Generics Market* 8th Largest Pharma Company in the US Generics Market* • Ranked 2nd by prescriptions## in the US dermatology market Dermatology Segment Dermatology Segment • Wide basket of 604 ANDAs & 67 NDAs filed and 515 ANDAs & 54 NDAs approved across multiple therapies Comprehensive Portfolio** Comprehensive Portfolio** • 89 ANDAs & 13 NDAs pending approval with USFDA Robust Pipeline** Robust Pipeline** • Presence in branded, generics & OTC segments Market Presence Market Presence • Integrated manufacturer with flexibility for manufacturing onshore/ offshore Flexible Manufacturing Flexible Manufacturing • Liquids, Creams, Ointments, Gels, Sprays, Injectables, Tablets, Capsules, Drug-Device combination Dosage Forms Dosage Forms * Source: IQVIA data for 12 months ended April 2022 ## Source: IQVIA data for 12 months ended April 2022 **All data as of 30-Jun-2022
US Business – Sales 20 35 62 98 137 135 138 87 107 105 101 114 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 Sales in Rs. billion 10 year CAGR - 13%
21 Key Milestones in US • Launched Winlevi® (clascoterone cream 1%) for topical treatment of acne vulgaris FY22 • Presented long term clinical data for Ilumya & other clinical insights for Odomzo & Levulan at American Academy of Dermatology Conference • Presented Pre-clinical data for GL0034 (GLP-1R agonist) at American Diabetes Association Conference FY21 • Launched Cequa in US • Launched Absorica LD in US in Feb-2020 FY20 • Launched Ilumya & Yonsa in US • Received USFDA approval for Cequa • Launched Xelpros in US • Launched Ready-to-Infuse INFUGEMTM FY19 • Launched Odomzo in US • US FDA approval for Ilumya FY18 • Tildrakizumab filing in US & Europe • Acquired Ocular Technologies giving access to Cequa, a product for dry eyes. • Acquired Odomzo- branded oncology product from Novartis FY17 • Acquired DUSA - Entry in branded specialty market FY13 • Acquired Taro Pharma – Entry into US dermatology market FY10 • Entry in US through Caraco acquisition FY98
42 59 60 64 67 67 39 52 55 55 54 54 FY18 FY19 FY20 FY21 FY22 Q1FY23 Cumulative Products Filed Cumulative Products Approved ANDA & NDA Pipeline 561 571 581 595 605 604 422 453 483 501 512 515 FY18 FY19 FY20 FY21 FY22 Q1FY23 Cumulative Products Filed Cumulative Products Approved 22 ANDAs Filed and Approved (Cumulative) NDA Filed and Approved (Cumulative) (All data as of 30-June-2022)
India Branded Generic Business 23 33% of Revenues
24 India Business at a glance No. 1 in India No. 1 in India • No. 1 ranked with 8.5% market share Market Position** Market Position** • No. 1 ranked by prescriptions with 11 different classes of doctors Prescription Ranking## Prescription Ranking## • Market leader in the chronic segment Chronic Segment Chronic Segment • Strong positioning in the acute segment Acute Segment Acute Segment • Specializes in technically complex products and offers a complete therapy basket Product Offering Product Offering • 33 brands in the country’s top 300 pharmaceutical brands Strong Brand Positioning** Strong Brand Positioning** • Top 10 Brands contribute approx. 18% of India revenues – low product concentration • Growth driven by a basket of brands De-risked Growth** De-risked Growth** • 11,149 strong field force Sales Strength Sales Strength ** - As per AIOCD AWACS data for 12 months ended June’22 ## - As per SMSRC data for Feb’22
49,570 49,570 53,140 55,010 56,780 58,620 62,030 66,610 80,410 82,210 105,120 144,960 Aristo 2.9% Dr. Reddy 2.9% Macleods 3.1% Intas 3.2% Torrent 3.3% Alkem + Cachet + Indchemie 3.4% Lupin 3.6% Zydus 3.9% Mankind 4.7% Cipla 4.8% Abbott + Abbott HC + Novo 6.2% Sun Pharma 8.5% Largest Pharma Company in India 25 Market Share Formulation Sales in India as of 12 Months ended June 2022 (Rs. mn) Source: AIOCD AWACS MAT June 2022
Market Share 8.5% Urology 3% Cardiology 17% Neuro-Psychiatry 16% Gastroenterology 13% Anti-Infectives 10% Diabetology 8% Pain / Analgesics 7% Dermatology, 6% Gynaecology, 4% Vitamins / Minerals / Nutrients, 5% Respiratory 5% Opthalmology 2% Others 4% India Business – Sales ramp-up 26 29 30 37 67 71 77 80 73 97 103 128 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 ** As per AIOCD AWACS – June‘22 Sales in Rs. Billion 10 year CAGR -16% Therapeutic Break-up** Impact of Ranbaxy Acquisition One-time impact of change in distribution
Creating Lasting Value - Investor Presentation *Ranks based on prescription share Source-Strategic Marketing Solutions and Research Centre (SMSRC) Prescription Data Number 1 Ranking with 11 Doctor Categories* Leadership in key therapeutic areas* Prescription Ranking Specialist Feb ‘18 Feb ’19 Feb ’20 Feb ’21 Feb ’22 Psychiatrists 1 1 1 1 1 Neurologists 1 1 1 1 1 Cardiologists 1 1 1 1 1 Gastroenterologists 1 1 1 1 1 Diabetologists 1 1 1 1 1 Dermatologists 1 1 1 1 1 Urologists 1 1 1 1 1 Consulting Physicians 1 1 1 1 1 Chest Physicians 1 2 2 1 1 ENT 2 2 1 2 1 General surgeons 2 2 2 2 1 Orthopaedic 1 1 1 1 2 Nephrologists 1 1 1 2 2 Ophthalmologists 1 1 2 2 2 27
8.6 8.8 10.0 9.4 11.4 FY18 FY19 FY20 FY21 FY22 No. of Medical Representatives Sales Per Representative (Rs. Mn) Best-in-class field force productivity 28 • Well trained and scientifically oriented sales representatives team with strong performance track record • Field force with highest productivity amongst key players in India • Expanded sales force strength in FY21 to enhance geographical & doctor reach and improve brand focus Sales Per Medical Representative (Rs. Mn) Impact of sales force expansion 9,291 9,550 9,707 10,963 11,149
Emerging Markets 29 18% of Revenues
30 Emerging Markets Business at a glance Amongst the leading Indian Companies in Emerging Markets Amongst the leading Indian Companies in Emerging Markets • Presence in about 80 markets Global footprint Global footprint • Romania, Russia, South Africa, Brazil, Mexico and complementary & affiliated markets Focus Markets Focus Markets • Extensive basket of branded products Product Portfolio Product Portfolio • Strong relationships with doctors and medical practitioners Customer Focus Customer Focus • Approximately 2,200 Sales Representatives Sales Force Sales Force • Favourable macroeconomic parameters to drive pharmaceutical consumption in the long-term Opportunity Opportunity • Across 7 countries Local Manufacturing Local Manufacturing
Rest of World (Western Europe, Canada, Japan, ANZ, Israel & Other Markets) 31 14% of Revenues
32 Rest of World Markets at a glance Amongst the leading Indian Companies Amongst the leading Indian Companies • Across all major markets in Western Europe, Canada, A&NZ, Japan, Israel and other markets Market Presence Market Presence • Expanding basket of products including specialty brands, injectable & hospital products as well as products for retail market Product Portfolio Product Portfolio • Development and commercialization of complex generics and differentiated products to drive sustainable and profitable growth Focus Focus • Distribution led model • Sales force for Specialty products Sales Force Sales Force • At Canada, Japan, Australia, Israel and Hungary + supplies from India facilities Local Manufacturing Local Manufacturing • Acquired 14 established prescription brands from Novartis in March 2016 • Acquired Pola Pharma in Japan in Jan 2019 • Launched Ilumya in Japan in September 2020 Japan Presence Japan Presence • Portfolio of generics and specialty products • Specialty products - Launched Ilumya in October 2021 and Cequa in January 2022 Canada Presence Canada Presence
Global Consumer Healthcare Business 33
34 Global Consumer Healthcare Business at a glance An Attractive Opportunity An Attractive Opportunity • Amongst the top 10 consumer healthcare companies India India • Presence in about 20+ countries Global Presence Global Presence • Romania, Russia, South Africa, Nigeria, Myanmar, Ukraine, Poland, Thailand, Belarus, Kazakhstan, Nepal, Morocco, UAE and Oman Focus Markets Focus Markets • Enjoys strong brand equity in 4 countries Strong Brand Equity Strong Brand Equity • Promoted through dedicated sales force in each market Sales Force Sales Force • Amongst top 10 consumer healthcare companies in India, Romania, Nigeria & Myanmar Strong Positioning Strong Positioning
Active Pharmaceutical Ingredients (API) Business 35 5% of Revenues
API Business 36 Backward Integration – Strategic Importance Backward Integration – Strategic Importance • Backward integration provides cost competitiveness and supply reliability Strategic Importance Strategic Importance • Large generic and innovator companies Customers Customers • Approximately 370 APIs Product Portfolio Product Portfolio • Approx. 20-30 APIs scaled up annually Pipeline Development Pipeline Development • 374 DMF/CEP approvals to date • 488 DMF/CEP Filings to date Regulatory approvals Regulatory approvals • Across 14 facilities Manufacturing Manufacturing
Research & Development 37
38 Research & Development Cumulative R&D Spend of ~Rs. 219 billion to date Cumulative R&D Spend of ~Rs. 219 billion to date • R&D spend at 5.8% of sales for FY22 • Strong cash flows & large scale to support R&D investments R&D Spend R&D Spend • Capabilities in finished dosage development, biological support, chemistry and new drug development Capabilities Capabilities • Approx. 2,700 headcount globally with R&D capabilities across dosage forms like orals, liquids, ointments, gels, sprays, injectables Organization Organization • Strong team of intellectual property experts supporting R&D IPR Support IPR Support • Developing non infringing formulations and development of specialty/complex products Focus Focus
22.5 19.8 19.8 21.5 22.2 FY18 FY19 FY20 FY21 FY22 R&D Investments (Rs Bn) R&D Investments (% of Sales) Filed Approved R&D Investments 39 (All data as of 30-June-2022) 5.8% 8.6% 6.9% 6.1% 6.5% Filed Approved Filed Granted ANDA DMF/CEP Patents** R&D Investments Filings and Approvals 604 515 488 374 2,458 1,556 Filed Approved NDA/BLA 67 54 ** Excludes Expired/Abandoned Patents
Global Manufacturing Presence 40
41 Global Manufacturing Presence World Class Manufacturing Infrastructure World Class Manufacturing Infrastructure • 43 manufacturing facilities across India, the Americas, Asia, Africa, Australia and Europe Extensive Global Footprint Extensive Global Footprint • Vertically integrated network across six continents enabling high quality, low cost and a quick market entry across the geographies Integrated Network Integrated Network • One of the few companies that has set up integrated manufacturing capability for the production of oncology, hormones, peptides and steroidal drugs Capabilities Capabilities • High quality manufacturing facilities. Many facilities approved by US FDA, UK MHRA, EMEA and other international regulatory authorities High Quality High Quality • Ability to manufacture a variety of dosage forms – Orals, Creams, Ointments, Injectables, Sprays, Liquids Dosage Forms Dosage Forms
• Formulation • India : 15, US : 3 • Canada, Japan, Hungary, Israel, Bangladesh, South Africa, Malaysia, Romania, Egypt, Nigeria and Russia : 1 each • Capacities available for a variety of finished dosages • API • India : 9, Australia : 2, Israel : 1, US : 1, Hungary : 1 42 Manufacturing Facilities 43 manufacturing sites  Tablets / Capsules  Semisolids  Liquids  Suppository  Vials  Ampoules  Pre-filled Syringes  Gels  Lyophilized Units  Dry powder  Eye drops  MDI  Aerosols  Creams  Ointments Injectables / Sterile Orals Topicals
43 Corporate Governance Our philosophy on corporate governance envisages working towards high levels of transparency, accountability and consistent value systems across all facets of operations Chairman Israel Makov Former President & CEO of Teva Pharmaceutical Ind. Ltd. (Retired from board of Sun Pharma w.e.f. 29-Aug-2022) Gautam B. Doshi Independent Director Professional with expertise in M&A, Taxation, Accounting & Corp. and Commercial Laws. Lead Independent Director Independent Director Dr. Pawan Goenka Former MD & CEO of Mahindra & Mahindra Ltd. Rama Bijapurkar Independent management consultant & Professor of Management Practice at IIM, Ahmedabad
Financials 44
Financials Market Capitalisation Rs. 2,098 billion / US$ 26 billion (as of 15th Sept 2022) FY18 YoY FY19 YoY FY20 YoY FY21 YoY FY22 YoY P&L Summary Sales 260,659 -14% 286,863 10% 323,252 13% 332,331 3% 384,264 16% Gross Profit 186,413 -16% 208,173 12% 230,947 11% 245,430 6% 280,749 14% EBITDA 56,081 -36% 63,076 12% 69,898 11% 84,914 21% 103,977 22% Net Profit 20,957 -70% 26,654 27% 37,649 41% 29,038 -23% 32,727 13% Net Profit (Adjusted) 33,006 -53% 38,798 18% 40,256 4% 59,317 47% 76,671 29% R&D Spend 22,489 -3% 19,847 -12% 19,739 -1% 21,499 9% 22,194 3% BS Summary Mar'18 YoY Mar'19 YoY Mar'20 YoY Mar'21 YoY Mar'22 YoY Shareholders Funds 383,141 5% 414,091 8% 452,645 9% 464,628 3% 480,112 3% Loan Funds 97,518 21% 98,934 1% 75,783 -23% 35,235 -54% 9,307 -74% Net Fixed Assets 157,110 5% 172,919 10% 175,858 2% 168,322 -4% 171,971 2% Investments 71,430 499% 79,030 11% 101,431 28% 96,125 -5% 128,486 34% Cash and Bank Balances 99,290 -34% 72,760 -27% 64,876 -11% 64,455 -1% 50,334 -22% Inventory 68,810 1% 78,860 15% 78,750 0% 89,970 14% 89,968 0% Sundry Debtors 78,150 9% 88,840 14% 94,212 6% 90,614 -4% 105,929 17% Sundry Creditors 47,660 8% 41,480 -13% 35,836 -14% 39,737 11% 44,793 13% 45 # FY18 - Adjusted for Rs. 12.1 bn provision related to Modafinil settlement & deferred tax adjustment # FY19 - Adjusted for Rs. 12 bn provision related to Modafinil settlement **FY19 - Includes a one-time sales reduction of Rs. 10,850mn related to change in distribution for India business # FY20 - Adjusted for Rs. 2.6 bn provision (related to Dusa US DoJ settlement of Rs. 1.6 bn and Indirect Tax provision of Rs. 1.0 bn in India) # FY21 - Adjusted for Rs. 30.3 bn provision (related to Taro US – DOJ & MDL settlement Rs. 42.2 bn, Rs. 0.9 bn provision related to UK Citalopram case, Rs. 4.1 bn related to deferred tax gain. Taro provisions are adjusted for minority interest) # FY22 - Adjusted for Rs. 43.9 bn provision (for US litigation related to Ranbaxy Meijer & Others Rs. 39,357 mn, Japan (plant) loss Rs. 382 mn, Dexasite impairment Rs. 1,503 mn., US MDL (Taro) Rs. 3,465 mn (after adjusting for Taro minority of Rs 960 mn) & Deferred Tax gain = Rs. 5,178 mn offset by MAT Credit reversal of Rs.4,410 mn). # # ( All Figures in Rs. Mn ) # # ** #
46 Sales Break-up 80 73 97 103 128 87 107 105 101 114 48 54 55 58 67 30 35 45 49 55 15 18 20 21 21 FY18 FY19 FY20 FY21 FY22 India Formulations US Formulations Emerging Markets Rest of World API+Others 384 Sales In Rs Billion 332 323 287 261
47 EBITDA Trend 21.2% 21.7% 21.3% 25.3% 26.9% 31.0% 30.8% 31.8% 28.5% 28.0% 20.6% 20.8% 19.7% 20.6% 19.0% 28.5% 27.4% 28.6% 26.1% 26.9% FY18 FY19 FY20 FY21 FY22 EBITDA Other Expenditure Personnel Costs Material Costs % of Sales 261 287 323 332 384 Sales In Rs Billion
Net Cash (Excluding Debt) (Rs. Bn) Net Cash From Operating Activities (Rs. Bn) 48 Cash Flow & Debt 39.1 22.0 65.5 61.7 89.8 FY18 FY19 FY20 FY21 FY22 19.5 -10.2 50.1 50.0 74.9 FY18 FY19 FY20 FY21 FY22 Free Cash Flow (Rs. Bn) 103.6 104.8 82.2 35.2 9.3 FY18 FY19 FY20 FY21 FY22 Gross Debt (Rs. Bn) 45.0 34.7 69.5 103.0 149.2 FY18 FY19 FY20 FY21 FY22
FY18 FY19 FY20 FY21 FY22 Growth (%) Sales (13.9) 10.1 12.7 2.8 15.6 Gross Profit (15.8) 11.7 10.9 6.3 14.4 EBITDA (44.4) 12.5 10.8 21.5 22.5 Net Profit (69.9) 27.2 41.3 (22.9) 12.7 Net Profit (Adjusted) (52.6) 17.5 3.8 47.4 29.3 Margins (%) Gross Margin 71.5 72.6 71.4 73.9 73.1 EBITDA Margin (%) 21.2 21.7 21.3 25.3 26.9 Net Margin 8.0 9.3 11.6 8.7 8.5 Net Margin (Adjusted) 12.7 13.5 12.5 17.8 20.0 Return (%) ROCE 11.1 11.8 11.0 13.5 16.4 ROE 8.7 9.4 9.1 12.5 15.0 Others Debt / Equity 0.25 0.24 0.17 0.08 0.02 Fully Diluted EPS 8.7 11.1 15.7 12.1 13.6 Fully Diluted EPS (Adjusted) 13.8 16.2 16.8 24.7 32.0 R&D Spend % of Net Sales 8.6 6.9 6.1 6.5 5.8 Revenue 7.9 6.6 6.0 6.4 5.6 Capital 0.7 0.3 0.1 0.1 0.2 49 Financial Ratios # # # # # # # # # # # # ** # FY18 - Adjusted for Rs. 12.1 bn provision related to Modafinil settlement & deferred tax adjustment # FY19 - Adjusted for Rs. 12 bn provision related to Modafinil settlement **FY19 - Includes a one-time sales reduction of Rs. 10,850mn related to change in distribution for India business # FY20 - Adjusted for Rs. 2.6 bn provision (related to Dusa US DoJ settlement of Rs. 1.6 bn and Indirect Tax provision of Rs. 1.0 bn in India) # FY21 - Adjusted for Rs. 30.3 bn provision (related to Taro US – DOJ & MDL settlement Rs. 42.2, Rs. 0.9 bn provision related to UK Citalopram case, Rs. 4.1 bn related to deferred tax gain. Taro provisions are adjusted for minority interest) # FY22 - Adjusted for Rs. 43.9 bn provision (for US litigation related to Ranbaxy Meijer & Others Rs. 39,357 mn, Japan (plant) loss Rs. 382 mn, Dexasite impairment Rs. 1,503 mn., US MDL (Taro) Rs. 3,465 mn (after adjusting for Taro minority of Rs 960 mn) & Deferred Tax gain = Rs. 5,178 mn offset by MAT Credit reversal of Rs.4,410 mn) # # #
Q1 FY23 Q1 FY22 CHANGE FY22 FY21 CHANGE Gross Sales 106,440 96,694 10.1% 384,264 332,331 15.6% Gross Profit 77,438 70,200 10.3% 280,749 245,430 14.4% Gross Margin 72.8% 72.6% 73.1% 73.9% EBITDA 28,844 28,211 2.2% 103,977 84,914 22.5% EBITDA Margin 26.8% 29.0% 26.9% 25.3% Net Profit 20,609 14,442 42.7% 32,727 29,038 12.7% Net margin 19.4% 14.9% 8.5% 8.7% Net Profit (Adjusted) 20,609 19,792 4.1% 76,671 59,317 29.3% Net margin (Adjusted) 19.4% 20.5% 20.0% 17.8% R&D 4,608 5,926 -22.2% 22,194 21,499 3.2% R&D as % of Net Sales 4.3% 6.1% 5.8% 6.5% EPS (Diluted) INR 8.6 6.0 42.7% 13.6 12.1 12.7% EPS (Diluted) INR (Adjusted) 8.6 8.2 4.1% 32.0 24.7 29.3% 50 Key Financials Q1 FY23 ( All Figures in Rs. Mn ) # Q1FY22- Adjusted for Rs. 5.3 bn provision (related to (i) US MDL (Taro) =Rs. 4,425 mn (ii) Japan (plant)=Rs. 382 mn (iii) Dexasite impairment=Rs. 1,503 mn. (after adjusting for Taro minority of Rs 960 mn) # FY21 - Adjusted for Rs. 30.3 bn provision (related to Taro US – DOJ & MDL settlement Rs. 42.2, Rs. 0.9 bn provision related to UK Citalopram case, Rs. 4.1 bn related to deferred tax gain. Taro provisions are adjusted for minority interest) # FY22 - Adjusted for Rs. 43.9 bn provision (for US litigation related to Ranbaxy Meijer & Others Rs. 39,357 mn, Japan (plant) loss Rs. 382 mn, Dexasite impairment Rs. 1,503 mn., US MDL (Taro) Rs. 3,465 mn (after adjusting for Taro minority of Rs 960 mn) & Deferred Tax gain = Rs. 5,178 mn offset by MAT Credit reversal of Rs.4,410 mn) # # # # # #
Q1 FY23 Q1 FY22 CHANGE FY22 FY21 CHANGE Formulation India 33,871 33,084 2.4% 127,593 103,432 23.4% US 32,437 28,000 15.8% 113,737 100,921 12.7% Emerging Markets 18,911 16,053 17.8% 67,432 57,840 16.6% ROW 14,678 13,680 7.3% 54,545 48,956 11.4% Sub-total 99,897 90,816 10.0% 363,306 311,149 16.8% ÀPI 5,987 5,149 16.3% 18,354 19,504 -5.9% Others 556 729 -23.8% 2,604 1,679 55.1% Gross Sales 106,440 96,694 10.1% 384,264 332,331 15.6% 30% 32% 18% 14% 6% 51 Sales Breakup Q1FY23 ( All Figures in Rs. Mn ) US Formulations India Branded Generics Emerging Markets Rest of World API & Others 29% 34% 17% 14% 6% Q1 FY23 Q1 FY22 # ROW includes Western Europe, Canada, Japan, Australia, New Zealand, Israel and other markets #
Key Milestones targeted for future 52 • Enhance share of specialty/branded business • Continue to focus on complex generics and high entry barrier segments • Ensure broad product offering to customers across multiple dosage forms US Business US Business • Focus on productivity enhancement • Maintain leadership position in a fiercely competitive market • Continuously innovate to ensure high brand equity with doctors • Continue to evaluate in-licensing opportunities for latest generation patented products India Business India Business • Gain critical mass in key markets • Enhance product basket in emerging markets • Focus on profitable growth EM & RoW Business EM & RoW Business • Maintain leadership in existing markets through focus on innovative solutions • Enhance presence in high growth markets Global Consumer Healthcare Global Consumer Healthcare
Key Milestones targeted for future 53 • Unwavering focus on Sustainability, built on a legacy rooted in caring for people, communities and the planet. • Committed to Governance, Community Upliftment, Access to Affordable Healthcare & Environment Conservation Sustainability Sustainability • Focus on developing complex products across multiple dosage forms • Invest to further build the specialty pipeline R&D R&D • Ensuring 24x7 compliance to cGMP • Continuously enhance systems, processes, human capabilities to ensure compliance with global regulatory standards Regulatory/ Quality Regulatory/ Quality • Target high-single digit to low double-digit consolidated topline growth for FY23 • Focus on sustainable and profitable growth • Focus on improving overall return ratios Financial Financial
54 Sun Pharma at a glance 4th Largest Global Specialty Generic Company* 4th Largest Global Specialty Generic Company* • Ranked 8th in US Generics Market## US US • No. 1 Pharma Company in India India India • Amongst the largest Indian Pharma Company in Emerging Markets Emerging Markets Emerging Markets • Expanding presence in Rest of World markets Rest of World Markets Rest of World Markets • 43 manufacturing sites across the world Manufacturing Footprint Manufacturing Footprint • Presence in more than 100 countries across branded and generic markets Market Presence Market Presence • 38,000+ global employee base Employees Employees • Multiple manufacturing facilities approved by various regulatory authorities across the world including USFDA Quality Compliance Quality Compliance • Capabilities across dosage forms like injectables, sprays, ointments, creams, liquids, tablets and capsules R&D and Manufacturing R&D and Manufacturing • Specialty products, branded generics, generics & APIs Addressable Segments Addressable Segments *Source: Evaluate Pharma Estimates for 12 months ended Dec 2021 ## Source: IQVIA data for 12 months ended April 2022
Thank You Investors: Nimish Desai Tel : +91 22 4324 4324, Ext 2778 Tel Direct +91 22 4324 2778 nimish.desai@sunpharma.com Thank You! For more information please contact: 55 © 2017 Sun Pharmaceutical Industries Limited., All Rights Reserved. “SUN Pharma”, The Sun Pharmaceutical Industries Logo are trademarks of Sun Pharmaceutical Industries Limited. This material was used during an oral presentation; it is not a complete record of the discussion. This work may not be used, sold, transferred, adapted, abridged, copied or reproduced in whole on or in part in any manner or form or in any media without the prior written consent. All product names and company names and logos mentioned herein are the trademarks or registered trademarks of their respective owners. Corporate Address: SUN HOUSE, CTS No. 201 B/1, Western Express Highway, Goregaon (E), Mumbai 400063 NSE:SUNPHARMA, BSE: 524715, Reuters: SUN.BO, Bloomberg: SUNP IN CIN: L24230GJ1993PLC019050 www.sunpharma.com

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SPIL-IR-Presentation-September-2022-INR.pdf

  • 1.
    Creating Lasting Value InvestorPresentation – September 2022 NSE:SUNPHARMA | BSE:524715 | Bloomberg:SUNP IN | Reuters:SUN.BO WWW.SUNPHARMA.COM
  • 2.
    Except for thehistorical information contained herein, statements in this presentation and the subsequent discussions, which include words or phrases such as “will”, “aim”, “will likely result”, “would”, “believe”, “may”, “expect”, “will continue”, “anticipate”, “estimate”, “intend”, “plan”, “contemplate”, “seek to”, “future”, “objective”, “goal”, “likely”, “project”, “should”, “potential”, “will pursue” and similar expressions or variations of such expressions may constitute "forward-looking statements". These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements. These risks and uncertainties include, but are not limited to our ability to successfully implement our strategy, our growth and expansion plans, obtain regulatory approvals, our provisioning policies, technological changes, investment and business income, cash flow projections, our exposure to market risks as well as other risks. Sun Pharmaceutical Industries Limited does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof. Disclaimer 2
  • 3.
    Contents 3 Sun Pharma ata glance 1 Long-term Strategy 2 Global Specialty Initiatives 3 Revenue Composition, History & Acquisition Track Record 4 Business Operations, R&D, Manufacturing 5 Corporate Governance 6 Financials – P&L, Balance Sheet, Cash Flows & Ratios 7 Key Milestones Targeted 8
  • 4.
    4 Sun Pharma ata glance 4th Largest Global Specialty Generic Company* 4th Largest Global Specialty Generic Company* • Ranked 8th in US Generics Market## US US • No. 1 Pharma Company in India India India • Amongst the largest Indian Pharma Company in Emerging Markets Emerging Markets Emerging Markets • Expanding presence in Rest of World markets Rest of World Markets Rest of World Markets • 43 manufacturing sites across the world Manufacturing Footprint Manufacturing Footprint • Presence in more than 100 countries across branded and generic markets Market Presence Market Presence • 38,000+ global employee base Employees Employees • Multiple manufacturing facilities approved by various regulatory authorities across the world including USFDA Quality Compliance Quality Compliance • Capabilities across dosage forms like injectables, sprays, ointments, creams, liquids, tablets and capsules R&D and Manufacturing R&D and Manufacturing • Specialty products, branded generics, generics & APIs Addressable Segments Addressable Segments *Source: Evaluate Pharma Estimates for 12 months ended Dec 2021 ## Source: IQVIA data for 12 months ended April 2022
  • 5.
    World’s 4th LargestSpecialty Generic Pharma Co 1.6 1.7 1.7 1.8 1.9 1.9 2.1 2.2 2.8 3.2 3.3 4.0 4.5 5.6 8.3 9.2 Aspen Les Laboratoires Nichi-Iko Sawai Himka STADA Lupin Dr. Reddy Apotex Aurobindo Fresenius Pfizer Sun Pharma + Taro Viatris Teva Novartis 5 2021 Worldwide Generic Sales (US$ in billions) Source: Evaluate Pharma Estimates for 12 months ended Dec 2021
  • 6.
    US Formulation 30% India Branded Generics 33% Emerging Markets 18% Rest of World (RoW)#14% API & Others 5% FY22 India 35% International 65% FY22 Rest of World (RoW)  8th largest generics company in US* with a strong pipeline (89 ANDAs & 13 NDAs awaiting approval)  Presence in Specialty branded & generics segments with more than 560 approved products  FY22 sales: Rs. 113,737 mn 6 Sun Pharma today • Market cap: US$ 26 bn (1) • Gross Sales: Rs. 384,264 mn • EBITDA: Rs. 103,977 mn (26.9% margin) • R&D Investment: 5.8% of Sales • Globalized supply chain • Strong balance sheet • 54% owned by promoter group Note: (1) As of Sept, 15 2022 using spot exchange rate of INR /USD = 79.69 # Includes Western Europe, Canada, Japan, Australia & New Zealand, Israel and other markets. * Source: IQVIA data for 12 months ended April 2022  Presence in about 80 countries across Africa, Americas, Asia and Eastern & Central Europe  Key focus markets – Romania, Russia, South Africa, Brazil & Mexico and complementary & affiliated markets  FY22 sales: Rs. 67,432 mn  Presence across key markets in Western Europe, Canada, Japan, Israel, A&NZ and other markets  Product portfolio includes specialty products, differentiated offerings for hospitals, injectables & generics for retail market  FY22 sales: Rs. 54,545 mn  No.1 ranked with 11 classes of doctor categories  Leading position in high growth chronic therapies  Specializes in technically complex products  FY22 sales: Rs. 127,593 mn Geographical sales split Revenue Share India Branded Generics US Formulations Emerging Markets
  • 7.
    • Enhance shareof specialty business • Achieve differentiation by focusing on technically complex products • Focus on key markets – achieve critical mass • Speed to market • Ensure sustained compliance with global regulatory standards • Sustainability - Committed to Governance, Community Upliftment, Access to Affordable Healthcare & Environment Conservation • Increasing contribution of specialty and complex products • Future investments directed towards differentiated products Cost leadership Growth and Sustainability Driving Sustainable Long Term Growth 7 Business development • Optimize operational costs • Vertically integrated operations • Use acquisitions to bridge critical product/capability gaps • Focus on access to products, technology, market presence • Ensure acquisitions yield targeted return on Investment • Focus on payback timelines Balance profitability & investments for future
  • 8.
    Our Specialty Portfolio 8 •Indication - For plaque psoriasis • Launched in US in October 2018 & in Australia in Dec-2018, Phased launch in Europe by Almirall starting December 2018 onwards • Long term clinical data shows that the significant response rate seen in 52 & 64 weeks were maintained over five years • Evaluating new indications for Ilumya - Phase-2 data shows potential to improve joint & skin symptoms of Psoriatic Arthritis. Commenced Phase-3 trials in 2020 • Out licensed to CMS for Greater China market & to Hikma for Middle East & North African markets • Launched in Japan in September 2020 and in Canada in October 2021 Ilumya/ Ilumetri Ilumya/ Ilumetri • Indication - For dry eye disease • Launched in US in October 2019 • Out-licensed to CMS for Greater China market in June 2019 • Launched in Canada in January 2022 Cequa Cequa • For the topical treatment of acne vulgaris in patients 12 years of age and older • Launched in US in November 2021 Winlevi Winlevi • Indication - For the treatment of severe recalcitrant nodular acne that cannot be cleared up by any other acne treatments, including antibiotics. • Launched in US in February 2020 Absorica LD Absorica LD • Indication – In combination with BLU-U (Blue Light Photodynamic Therapy Illuminator) for treatment of minimally to moderately thick actinic keratoses of the face, scalp, or upper extremities. • Currently marketed in US for actinic keratosis Levulan Kerastick Levulan Kerastick
  • 9.
    Our Specialty Portfolio 9 •Indication - For LABCC (locally advanced basal cell carcinoma) • Currently marketed in US, Canada, Germany, France, Denmark, Switzerland, Spain, Italy, Australia and Israel Odomzo Odomzo • Indication - For metastatic castration resistant prostate cancer in combination with methylprednisolone • Launched in US in May 2018 Yonsa Yonsa • Indication - For prevention of ocular pain & treatment of inflammation following cataract surgery • Launched in US in November 2016 Bromsite Bromsite • Indication - For reduction of elevated IOP in patients with open-angle glaucoma or ocular hypertension • BAK (Benzalkonium chloride) free form of latanoprost • Launched In US in January 2019 Xelpros Xelpros • Products using sprinkle technology for patients who have difficulty swallowing • Sprinkle versions of metoprolol (cardiology), rosuvastatin (cardiology) & duloxetine (neuro- psychiatry) commercialized in US between 2018-2019 • Therapeutic solutions for long-term care (LTC) patients Sprinkle Portfolio Sprinkle Portfolio
  • 10.
    Creating Lasting Value- Investor Presentation Our Specialty Pipeline Molecule/Asset Indication Route of Administration Mechanism of Action Pre-clinical Phase-1 Phase-2 Phase-3 Registration Approved Ilumya (tildrakizumab) Psoriatic Arthritis Injection IL-23 Antagonist SCD-044 Psoriasis, Atopic Dermatitis Oral Selective SIPR1 Agonist MM-II Treatment of pain in osteoarthritis Injection Liposomal intra -articular lubrication GL0034 Type 2 Diabetes Injection GLP-1R Agonist 10
  • 11.
    11 Highly Diversified RevenueBase US Formulations 30% India Branded Formulations 33% Emerging Markets 18% Rest of World (RoW)# 14% API & Others 5% # Includes Western Europe, Canada, Japan, Australia & New Zealand, Israel and other markets. FY22 Sales Rs. 384 billion
  • 12.
    0.0 15.2 33.9 74.9 FY07 FY12 FY17FY22 2.4 22.3 70.8 89.8 FY07 FY12 FY17 FY22 21.4 80.1 302.6 384.3 FY07 FY12 FY17 FY22 3.3 11.1 29.0 32.0 FY07 FY12 FY17 FY22 12 Impressive Track Record of Growth Sales 6.7 32.5 100.8 104.0 FY07 FY12 FY17 FY22 7.8 26.6 69.6 76.7 FY07 FY12 FY17 FY22 CAGR 21% CAGR 16% CAGR 20% CAGR 27% CAGR 16% EBITDA Adjusted Net Profit Operating Cash Flow Adjusted EPS (Rs/Share) (All Figures in Rs Billion) Free Cash Flow CAGR for FY07-FY22 CAGR 69% CAGR 69%
  • 13.
    16.6 11.9 19.3 29.5 FY19 FY20 FY21FY22 9.4% 9.1% 12.5% 15.0% FY19 FY20 FY21 FY22 11.8% 11.0% 13.5% 16.4% FY19 FY20 FY21 FY22 72.6% 71.4% 73.9% 73.1% FY19 FY20 FY21 FY22 13 Profitability and Return Ratios 21.7% 21.3% 25.3% 26.9% FY19 FY20 FY21 FY22 13.5% 12.5% 17.8% 20.0% FY19 FY20 FY21 FY22 Gross Margin # EBITDA Margin Adjusted Net Profit Margin ROCE ROE Market Cap (USD Bn) # Gross margin= (Sales - Material Cost)/Sales*100) ROCE & ROE exclude one-time exceptional charges ROCE = EBIT / Average of (Total Assets – Current Liabilities) ROE = Net Profit / Average Shareholders Equity (Market Cap as on 31st March )
  • 14.
    22% 21% 25% 27% 16% 17% 20% 19% FY19FY20 FY21 FY22 14% 13% 18% 20% 9% 10% 14% 11% 73% 71% 74% 73% 64% 64% 65% 63% FY19 FY20 FY21 FY22 Gross margin= (Net Sales – Material Cost) / Net Sales * 100 #Top 9 Indian Pharma company include Aurobindo, Cadila Healthcare, Cipla, DRL, Glenmark, Ipca, Lupin, Torrent and Wockhardt. Profitability Sun Pharma Range of Top 9 Indian Pharma Cos. Average Adjusted Net Profit Margin EBITDA Margin FY19 FY20 FY21 FY22 Gross Margin 14
  • 15.
    Began with 5 products Acquired Taro AcquiredDusa Acquired URL Pharma Creating a Global Company 15 IPO - Rs. 550 Mn raised Acquired Ranbaxy 38,000+ Global Employee Base Sun Pharma Today Invested ~Rs. 219 Bn in R&D till date (Since 1994) Part of NSE Nifty & BSE Sensex in India 43 Manufacturing facilities in 6 Continents 65% of sales from international markets Year Agreement with Merck for in- licensing Tildrakizumab Acquired InSite Vision ophthalmic portfolio • Entry into Japan -Acquired 14 brands from Novartis • Acquired Global rights for Cequa & Odomzo Acquired Pola Pharma in Japan Acquired Biosintez in Russia Specialty launches • Ilumya • Cequa • Odomzo • Absorica LD • Yonsa • Xelpros • Sprinkle products In-lincesed Winlevi® for acne treatment in US & Canada. Launched in US in Nov-21 Expanded Winlevi® licensing agreement to include Japan, A&NZ, Brazil, Mexico & Russia markets 1983 1994 2010 2012 2013 2014 2015 2016 2018 2019 2020 2021 2022
  • 16.
    Key Deals &Rationale 16 Year Deals Country Rationale 2022 Expanded Winlevi® licensing agreement to include Japan, Australia, New Zealand, Brazil, Mexico & Russia markets Japan, Australia, New Zealand, Brazil, Mexico and Russia Topical treatment of acne vulgaris 2022 Acquired UractivTM Portfolio from Fiterman Pharma Romania Expand non-prescription product basket in Romania and neighbouring markets 2022 Taro (Sun's subsidiary company) acquired Alchemee Business from Galderma US, Japan, Canada Acquired the "Proactiv", "Restorative Elements" and "In Defense of Skin" brands. Strengthens Taro’s OTC portfolio 2021 In-licensed Winlevi® (clascoterone cream 1%) US & Canada Topical treatment of acne vulgaris 2020 Exclusive licensing agreement with Himka for Ilumya Middle East & North Africa Registration and commercialization of the product in all Middle East & North Africa (MENA) markets. 2020 Licensing agreement with SPARC for SCD-044 Global Potential treatment for psoriasis, atopic dermatitis & other auto-immune disorders 2020 In-licensed Triferic brand from Rockwell Medical Inc. (USA) India Expands nephrology portfolio in India - for treating anaemia in hemodialysis patients. 2019 Licensing agreement with Astrazeneca UK for ready-to-use infusion oncology products Mainland China Access to oncology market in Mainland China 2019 Licensing agreement with CMS for Tildrakizumab, Cequa & 8 generic products Greater China Access to Greater China market 2018 Acquired Pola Pharma in Japan Japan Access to Japanese dermatology market. 2016 Acquired global rights for Cequa & Odomzo Global Enhances specialty pipeline.
  • 17.
    Key Deals &Rationale 17 Year Deals Country Rationale 2016 Acquired Biosintez Russia Local manufacturing capability to enhance presence in Russian market 2016 Licensing agreement with Almirall for Tildrakizumab for Psoriasis Europe Access to European market for Tidrakizumab 2016 Acquired 14 brands from Novartis Japan Entry into Japan 2016 Distribution agreement with AstraZeneca India Distribution services agreement in India for brand “Oxra” & “Oxramet”® (brands of dapagliflozin, used for diabetes treatment) 2015 Acquired InSite Vision Inc. US Strengthens branded ophthalmic portfolio in U.S. 2015 Distribution agreement with AstraZeneca India Distribution services agreement in India for brand “Axcer”® (brand of ticagrelor, used for the treatment of acute coronary syndrome) 2015 Sun Pharma – Ranbaxy Merger Global Markets Strengthen position in the Global Generic Pharma Industry, No.1 Pharma Company in India & Strong positioning in Emerging Markets 2014 In-licensing agreement with Merck for Tildrakizumab a biologic for psoriasis Global Markets Strengthening the specialty product pipeline 2014 Acquired Pharmalucence US Access to sterile injectable capacity in the US 2012 Acquired DUSA Pharma, Inc. US Access to specialty drug-device combination in dermatology segment 2010 Acquired Taro Pharmaceutical Industries Ltd. Israel Access to dermatology generic portfolio Manufacturing facilities at Israel & Canada 1997 Acquired Caraco Detroit, US Entry into US Market
  • 18.
  • 19.
    19 US Business ata glance 8th Largest Pharma Company in the US Generics Market* 8th Largest Pharma Company in the US Generics Market* • Ranked 2nd by prescriptions## in the US dermatology market Dermatology Segment Dermatology Segment • Wide basket of 604 ANDAs & 67 NDAs filed and 515 ANDAs & 54 NDAs approved across multiple therapies Comprehensive Portfolio** Comprehensive Portfolio** • 89 ANDAs & 13 NDAs pending approval with USFDA Robust Pipeline** Robust Pipeline** • Presence in branded, generics & OTC segments Market Presence Market Presence • Integrated manufacturer with flexibility for manufacturing onshore/ offshore Flexible Manufacturing Flexible Manufacturing • Liquids, Creams, Ointments, Gels, Sprays, Injectables, Tablets, Capsules, Drug-Device combination Dosage Forms Dosage Forms * Source: IQVIA data for 12 months ended April 2022 ## Source: IQVIA data for 12 months ended April 2022 **All data as of 30-Jun-2022
  • 20.
    US Business –Sales 20 35 62 98 137 135 138 87 107 105 101 114 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 Sales in Rs. billion 10 year CAGR - 13%
  • 21.
    21 Key Milestones inUS • Launched Winlevi® (clascoterone cream 1%) for topical treatment of acne vulgaris FY22 • Presented long term clinical data for Ilumya & other clinical insights for Odomzo & Levulan at American Academy of Dermatology Conference • Presented Pre-clinical data for GL0034 (GLP-1R agonist) at American Diabetes Association Conference FY21 • Launched Cequa in US • Launched Absorica LD in US in Feb-2020 FY20 • Launched Ilumya & Yonsa in US • Received USFDA approval for Cequa • Launched Xelpros in US • Launched Ready-to-Infuse INFUGEMTM FY19 • Launched Odomzo in US • US FDA approval for Ilumya FY18 • Tildrakizumab filing in US & Europe • Acquired Ocular Technologies giving access to Cequa, a product for dry eyes. • Acquired Odomzo- branded oncology product from Novartis FY17 • Acquired DUSA - Entry in branded specialty market FY13 • Acquired Taro Pharma – Entry into US dermatology market FY10 • Entry in US through Caraco acquisition FY98
  • 22.
    42 59 60 64 67 67 39 52 5555 54 54 FY18 FY19 FY20 FY21 FY22 Q1FY23 Cumulative Products Filed Cumulative Products Approved ANDA & NDA Pipeline 561 571 581 595 605 604 422 453 483 501 512 515 FY18 FY19 FY20 FY21 FY22 Q1FY23 Cumulative Products Filed Cumulative Products Approved 22 ANDAs Filed and Approved (Cumulative) NDA Filed and Approved (Cumulative) (All data as of 30-June-2022)
  • 23.
  • 24.
    24 India Business ata glance No. 1 in India No. 1 in India • No. 1 ranked with 8.5% market share Market Position** Market Position** • No. 1 ranked by prescriptions with 11 different classes of doctors Prescription Ranking## Prescription Ranking## • Market leader in the chronic segment Chronic Segment Chronic Segment • Strong positioning in the acute segment Acute Segment Acute Segment • Specializes in technically complex products and offers a complete therapy basket Product Offering Product Offering • 33 brands in the country’s top 300 pharmaceutical brands Strong Brand Positioning** Strong Brand Positioning** • Top 10 Brands contribute approx. 18% of India revenues – low product concentration • Growth driven by a basket of brands De-risked Growth** De-risked Growth** • 11,149 strong field force Sales Strength Sales Strength ** - As per AIOCD AWACS data for 12 months ended June’22 ## - As per SMSRC data for Feb’22
  • 25.
    49,570 49,570 53,140 55,010 56,780 58,620 62,030 66,610 80,410 82,210 105,120 144,960 Aristo 2.9% Dr. Reddy2.9% Macleods 3.1% Intas 3.2% Torrent 3.3% Alkem + Cachet + Indchemie 3.4% Lupin 3.6% Zydus 3.9% Mankind 4.7% Cipla 4.8% Abbott + Abbott HC + Novo 6.2% Sun Pharma 8.5% Largest Pharma Company in India 25 Market Share Formulation Sales in India as of 12 Months ended June 2022 (Rs. mn) Source: AIOCD AWACS MAT June 2022
  • 26.
    Market Share 8.5% Urology 3% Cardiology 17% Neuro-Psychiatry 16% Gastroenterology 13% Anti-Infectives 10% Diabetology 8% Pain/ Analgesics 7% Dermatology, 6% Gynaecology, 4% Vitamins / Minerals / Nutrients, 5% Respiratory 5% Opthalmology 2% Others 4% India Business – Sales ramp-up 26 29 30 37 67 71 77 80 73 97 103 128 FY12 FY13 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 FY22 ** As per AIOCD AWACS – June‘22 Sales in Rs. Billion 10 year CAGR -16% Therapeutic Break-up** Impact of Ranbaxy Acquisition One-time impact of change in distribution
  • 27.
    Creating Lasting Value- Investor Presentation *Ranks based on prescription share Source-Strategic Marketing Solutions and Research Centre (SMSRC) Prescription Data Number 1 Ranking with 11 Doctor Categories* Leadership in key therapeutic areas* Prescription Ranking Specialist Feb ‘18 Feb ’19 Feb ’20 Feb ’21 Feb ’22 Psychiatrists 1 1 1 1 1 Neurologists 1 1 1 1 1 Cardiologists 1 1 1 1 1 Gastroenterologists 1 1 1 1 1 Diabetologists 1 1 1 1 1 Dermatologists 1 1 1 1 1 Urologists 1 1 1 1 1 Consulting Physicians 1 1 1 1 1 Chest Physicians 1 2 2 1 1 ENT 2 2 1 2 1 General surgeons 2 2 2 2 1 Orthopaedic 1 1 1 1 2 Nephrologists 1 1 1 2 2 Ophthalmologists 1 1 2 2 2 27
  • 28.
    8.6 8.8 10.0 9.4 11.4 FY18 FY19FY20 FY21 FY22 No. of Medical Representatives Sales Per Representative (Rs. Mn) Best-in-class field force productivity 28 • Well trained and scientifically oriented sales representatives team with strong performance track record • Field force with highest productivity amongst key players in India • Expanded sales force strength in FY21 to enhance geographical & doctor reach and improve brand focus Sales Per Medical Representative (Rs. Mn) Impact of sales force expansion 9,291 9,550 9,707 10,963 11,149
  • 29.
  • 30.
    30 Emerging Markets Businessat a glance Amongst the leading Indian Companies in Emerging Markets Amongst the leading Indian Companies in Emerging Markets • Presence in about 80 markets Global footprint Global footprint • Romania, Russia, South Africa, Brazil, Mexico and complementary & affiliated markets Focus Markets Focus Markets • Extensive basket of branded products Product Portfolio Product Portfolio • Strong relationships with doctors and medical practitioners Customer Focus Customer Focus • Approximately 2,200 Sales Representatives Sales Force Sales Force • Favourable macroeconomic parameters to drive pharmaceutical consumption in the long-term Opportunity Opportunity • Across 7 countries Local Manufacturing Local Manufacturing
  • 31.
    Rest of World(Western Europe, Canada, Japan, ANZ, Israel & Other Markets) 31 14% of Revenues
  • 32.
    32 Rest of WorldMarkets at a glance Amongst the leading Indian Companies Amongst the leading Indian Companies • Across all major markets in Western Europe, Canada, A&NZ, Japan, Israel and other markets Market Presence Market Presence • Expanding basket of products including specialty brands, injectable & hospital products as well as products for retail market Product Portfolio Product Portfolio • Development and commercialization of complex generics and differentiated products to drive sustainable and profitable growth Focus Focus • Distribution led model • Sales force for Specialty products Sales Force Sales Force • At Canada, Japan, Australia, Israel and Hungary + supplies from India facilities Local Manufacturing Local Manufacturing • Acquired 14 established prescription brands from Novartis in March 2016 • Acquired Pola Pharma in Japan in Jan 2019 • Launched Ilumya in Japan in September 2020 Japan Presence Japan Presence • Portfolio of generics and specialty products • Specialty products - Launched Ilumya in October 2021 and Cequa in January 2022 Canada Presence Canada Presence
  • 33.
  • 34.
    34 Global Consumer HealthcareBusiness at a glance An Attractive Opportunity An Attractive Opportunity • Amongst the top 10 consumer healthcare companies India India • Presence in about 20+ countries Global Presence Global Presence • Romania, Russia, South Africa, Nigeria, Myanmar, Ukraine, Poland, Thailand, Belarus, Kazakhstan, Nepal, Morocco, UAE and Oman Focus Markets Focus Markets • Enjoys strong brand equity in 4 countries Strong Brand Equity Strong Brand Equity • Promoted through dedicated sales force in each market Sales Force Sales Force • Amongst top 10 consumer healthcare companies in India, Romania, Nigeria & Myanmar Strong Positioning Strong Positioning
  • 35.
    Active Pharmaceutical Ingredients (API)Business 35 5% of Revenues
  • 36.
    API Business 36 Backward Integration– Strategic Importance Backward Integration – Strategic Importance • Backward integration provides cost competitiveness and supply reliability Strategic Importance Strategic Importance • Large generic and innovator companies Customers Customers • Approximately 370 APIs Product Portfolio Product Portfolio • Approx. 20-30 APIs scaled up annually Pipeline Development Pipeline Development • 374 DMF/CEP approvals to date • 488 DMF/CEP Filings to date Regulatory approvals Regulatory approvals • Across 14 facilities Manufacturing Manufacturing
  • 37.
  • 38.
    38 Research & Development CumulativeR&D Spend of ~Rs. 219 billion to date Cumulative R&D Spend of ~Rs. 219 billion to date • R&D spend at 5.8% of sales for FY22 • Strong cash flows & large scale to support R&D investments R&D Spend R&D Spend • Capabilities in finished dosage development, biological support, chemistry and new drug development Capabilities Capabilities • Approx. 2,700 headcount globally with R&D capabilities across dosage forms like orals, liquids, ointments, gels, sprays, injectables Organization Organization • Strong team of intellectual property experts supporting R&D IPR Support IPR Support • Developing non infringing formulations and development of specialty/complex products Focus Focus
  • 39.
    22.5 19.8 19.8 21.5 22.2 FY18FY19 FY20 FY21 FY22 R&D Investments (Rs Bn) R&D Investments (% of Sales) Filed Approved R&D Investments 39 (All data as of 30-June-2022) 5.8% 8.6% 6.9% 6.1% 6.5% Filed Approved Filed Granted ANDA DMF/CEP Patents** R&D Investments Filings and Approvals 604 515 488 374 2,458 1,556 Filed Approved NDA/BLA 67 54 ** Excludes Expired/Abandoned Patents
  • 40.
  • 41.
    41 Global Manufacturing Presence WorldClass Manufacturing Infrastructure World Class Manufacturing Infrastructure • 43 manufacturing facilities across India, the Americas, Asia, Africa, Australia and Europe Extensive Global Footprint Extensive Global Footprint • Vertically integrated network across six continents enabling high quality, low cost and a quick market entry across the geographies Integrated Network Integrated Network • One of the few companies that has set up integrated manufacturing capability for the production of oncology, hormones, peptides and steroidal drugs Capabilities Capabilities • High quality manufacturing facilities. Many facilities approved by US FDA, UK MHRA, EMEA and other international regulatory authorities High Quality High Quality • Ability to manufacture a variety of dosage forms – Orals, Creams, Ointments, Injectables, Sprays, Liquids Dosage Forms Dosage Forms
  • 42.
    • Formulation • India: 15, US : 3 • Canada, Japan, Hungary, Israel, Bangladesh, South Africa, Malaysia, Romania, Egypt, Nigeria and Russia : 1 each • Capacities available for a variety of finished dosages • API • India : 9, Australia : 2, Israel : 1, US : 1, Hungary : 1 42 Manufacturing Facilities 43 manufacturing sites  Tablets / Capsules  Semisolids  Liquids  Suppository  Vials  Ampoules  Pre-filled Syringes  Gels  Lyophilized Units  Dry powder  Eye drops  MDI  Aerosols  Creams  Ointments Injectables / Sterile Orals Topicals
  • 43.
    43 Corporate Governance Our philosophyon corporate governance envisages working towards high levels of transparency, accountability and consistent value systems across all facets of operations Chairman Israel Makov Former President & CEO of Teva Pharmaceutical Ind. Ltd. (Retired from board of Sun Pharma w.e.f. 29-Aug-2022) Gautam B. Doshi Independent Director Professional with expertise in M&A, Taxation, Accounting & Corp. and Commercial Laws. Lead Independent Director Independent Director Dr. Pawan Goenka Former MD & CEO of Mahindra & Mahindra Ltd. Rama Bijapurkar Independent management consultant & Professor of Management Practice at IIM, Ahmedabad
  • 44.
  • 45.
    Financials Market Capitalisation Rs.2,098 billion / US$ 26 billion (as of 15th Sept 2022) FY18 YoY FY19 YoY FY20 YoY FY21 YoY FY22 YoY P&L Summary Sales 260,659 -14% 286,863 10% 323,252 13% 332,331 3% 384,264 16% Gross Profit 186,413 -16% 208,173 12% 230,947 11% 245,430 6% 280,749 14% EBITDA 56,081 -36% 63,076 12% 69,898 11% 84,914 21% 103,977 22% Net Profit 20,957 -70% 26,654 27% 37,649 41% 29,038 -23% 32,727 13% Net Profit (Adjusted) 33,006 -53% 38,798 18% 40,256 4% 59,317 47% 76,671 29% R&D Spend 22,489 -3% 19,847 -12% 19,739 -1% 21,499 9% 22,194 3% BS Summary Mar'18 YoY Mar'19 YoY Mar'20 YoY Mar'21 YoY Mar'22 YoY Shareholders Funds 383,141 5% 414,091 8% 452,645 9% 464,628 3% 480,112 3% Loan Funds 97,518 21% 98,934 1% 75,783 -23% 35,235 -54% 9,307 -74% Net Fixed Assets 157,110 5% 172,919 10% 175,858 2% 168,322 -4% 171,971 2% Investments 71,430 499% 79,030 11% 101,431 28% 96,125 -5% 128,486 34% Cash and Bank Balances 99,290 -34% 72,760 -27% 64,876 -11% 64,455 -1% 50,334 -22% Inventory 68,810 1% 78,860 15% 78,750 0% 89,970 14% 89,968 0% Sundry Debtors 78,150 9% 88,840 14% 94,212 6% 90,614 -4% 105,929 17% Sundry Creditors 47,660 8% 41,480 -13% 35,836 -14% 39,737 11% 44,793 13% 45 # FY18 - Adjusted for Rs. 12.1 bn provision related to Modafinil settlement & deferred tax adjustment # FY19 - Adjusted for Rs. 12 bn provision related to Modafinil settlement **FY19 - Includes a one-time sales reduction of Rs. 10,850mn related to change in distribution for India business # FY20 - Adjusted for Rs. 2.6 bn provision (related to Dusa US DoJ settlement of Rs. 1.6 bn and Indirect Tax provision of Rs. 1.0 bn in India) # FY21 - Adjusted for Rs. 30.3 bn provision (related to Taro US – DOJ & MDL settlement Rs. 42.2 bn, Rs. 0.9 bn provision related to UK Citalopram case, Rs. 4.1 bn related to deferred tax gain. Taro provisions are adjusted for minority interest) # FY22 - Adjusted for Rs. 43.9 bn provision (for US litigation related to Ranbaxy Meijer & Others Rs. 39,357 mn, Japan (plant) loss Rs. 382 mn, Dexasite impairment Rs. 1,503 mn., US MDL (Taro) Rs. 3,465 mn (after adjusting for Taro minority of Rs 960 mn) & Deferred Tax gain = Rs. 5,178 mn offset by MAT Credit reversal of Rs.4,410 mn). # # ( All Figures in Rs. Mn ) # # ** #
  • 46.
    46 Sales Break-up 80 73 97103 128 87 107 105 101 114 48 54 55 58 67 30 35 45 49 55 15 18 20 21 21 FY18 FY19 FY20 FY21 FY22 India Formulations US Formulations Emerging Markets Rest of World API+Others 384 Sales In Rs Billion 332 323 287 261
  • 47.
    47 EBITDA Trend 21.2% 21.7%21.3% 25.3% 26.9% 31.0% 30.8% 31.8% 28.5% 28.0% 20.6% 20.8% 19.7% 20.6% 19.0% 28.5% 27.4% 28.6% 26.1% 26.9% FY18 FY19 FY20 FY21 FY22 EBITDA Other Expenditure Personnel Costs Material Costs % of Sales 261 287 323 332 384 Sales In Rs Billion
  • 48.
    Net Cash (ExcludingDebt) (Rs. Bn) Net Cash From Operating Activities (Rs. Bn) 48 Cash Flow & Debt 39.1 22.0 65.5 61.7 89.8 FY18 FY19 FY20 FY21 FY22 19.5 -10.2 50.1 50.0 74.9 FY18 FY19 FY20 FY21 FY22 Free Cash Flow (Rs. Bn) 103.6 104.8 82.2 35.2 9.3 FY18 FY19 FY20 FY21 FY22 Gross Debt (Rs. Bn) 45.0 34.7 69.5 103.0 149.2 FY18 FY19 FY20 FY21 FY22
  • 49.
    FY18 FY19 FY20FY21 FY22 Growth (%) Sales (13.9) 10.1 12.7 2.8 15.6 Gross Profit (15.8) 11.7 10.9 6.3 14.4 EBITDA (44.4) 12.5 10.8 21.5 22.5 Net Profit (69.9) 27.2 41.3 (22.9) 12.7 Net Profit (Adjusted) (52.6) 17.5 3.8 47.4 29.3 Margins (%) Gross Margin 71.5 72.6 71.4 73.9 73.1 EBITDA Margin (%) 21.2 21.7 21.3 25.3 26.9 Net Margin 8.0 9.3 11.6 8.7 8.5 Net Margin (Adjusted) 12.7 13.5 12.5 17.8 20.0 Return (%) ROCE 11.1 11.8 11.0 13.5 16.4 ROE 8.7 9.4 9.1 12.5 15.0 Others Debt / Equity 0.25 0.24 0.17 0.08 0.02 Fully Diluted EPS 8.7 11.1 15.7 12.1 13.6 Fully Diluted EPS (Adjusted) 13.8 16.2 16.8 24.7 32.0 R&D Spend % of Net Sales 8.6 6.9 6.1 6.5 5.8 Revenue 7.9 6.6 6.0 6.4 5.6 Capital 0.7 0.3 0.1 0.1 0.2 49 Financial Ratios # # # # # # # # # # # # ** # FY18 - Adjusted for Rs. 12.1 bn provision related to Modafinil settlement & deferred tax adjustment # FY19 - Adjusted for Rs. 12 bn provision related to Modafinil settlement **FY19 - Includes a one-time sales reduction of Rs. 10,850mn related to change in distribution for India business # FY20 - Adjusted for Rs. 2.6 bn provision (related to Dusa US DoJ settlement of Rs. 1.6 bn and Indirect Tax provision of Rs. 1.0 bn in India) # FY21 - Adjusted for Rs. 30.3 bn provision (related to Taro US – DOJ & MDL settlement Rs. 42.2, Rs. 0.9 bn provision related to UK Citalopram case, Rs. 4.1 bn related to deferred tax gain. Taro provisions are adjusted for minority interest) # FY22 - Adjusted for Rs. 43.9 bn provision (for US litigation related to Ranbaxy Meijer & Others Rs. 39,357 mn, Japan (plant) loss Rs. 382 mn, Dexasite impairment Rs. 1,503 mn., US MDL (Taro) Rs. 3,465 mn (after adjusting for Taro minority of Rs 960 mn) & Deferred Tax gain = Rs. 5,178 mn offset by MAT Credit reversal of Rs.4,410 mn) # # #
  • 50.
    Q1 FY23 Q1FY22 CHANGE FY22 FY21 CHANGE Gross Sales 106,440 96,694 10.1% 384,264 332,331 15.6% Gross Profit 77,438 70,200 10.3% 280,749 245,430 14.4% Gross Margin 72.8% 72.6% 73.1% 73.9% EBITDA 28,844 28,211 2.2% 103,977 84,914 22.5% EBITDA Margin 26.8% 29.0% 26.9% 25.3% Net Profit 20,609 14,442 42.7% 32,727 29,038 12.7% Net margin 19.4% 14.9% 8.5% 8.7% Net Profit (Adjusted) 20,609 19,792 4.1% 76,671 59,317 29.3% Net margin (Adjusted) 19.4% 20.5% 20.0% 17.8% R&D 4,608 5,926 -22.2% 22,194 21,499 3.2% R&D as % of Net Sales 4.3% 6.1% 5.8% 6.5% EPS (Diluted) INR 8.6 6.0 42.7% 13.6 12.1 12.7% EPS (Diluted) INR (Adjusted) 8.6 8.2 4.1% 32.0 24.7 29.3% 50 Key Financials Q1 FY23 ( All Figures in Rs. Mn ) # Q1FY22- Adjusted for Rs. 5.3 bn provision (related to (i) US MDL (Taro) =Rs. 4,425 mn (ii) Japan (plant)=Rs. 382 mn (iii) Dexasite impairment=Rs. 1,503 mn. (after adjusting for Taro minority of Rs 960 mn) # FY21 - Adjusted for Rs. 30.3 bn provision (related to Taro US – DOJ & MDL settlement Rs. 42.2, Rs. 0.9 bn provision related to UK Citalopram case, Rs. 4.1 bn related to deferred tax gain. Taro provisions are adjusted for minority interest) # FY22 - Adjusted for Rs. 43.9 bn provision (for US litigation related to Ranbaxy Meijer & Others Rs. 39,357 mn, Japan (plant) loss Rs. 382 mn, Dexasite impairment Rs. 1,503 mn., US MDL (Taro) Rs. 3,465 mn (after adjusting for Taro minority of Rs 960 mn) & Deferred Tax gain = Rs. 5,178 mn offset by MAT Credit reversal of Rs.4,410 mn) # # # # # #
  • 51.
    Q1 FY23 Q1FY22 CHANGE FY22 FY21 CHANGE Formulation India 33,871 33,084 2.4% 127,593 103,432 23.4% US 32,437 28,000 15.8% 113,737 100,921 12.7% Emerging Markets 18,911 16,053 17.8% 67,432 57,840 16.6% ROW 14,678 13,680 7.3% 54,545 48,956 11.4% Sub-total 99,897 90,816 10.0% 363,306 311,149 16.8% ÀPI 5,987 5,149 16.3% 18,354 19,504 -5.9% Others 556 729 -23.8% 2,604 1,679 55.1% Gross Sales 106,440 96,694 10.1% 384,264 332,331 15.6% 30% 32% 18% 14% 6% 51 Sales Breakup Q1FY23 ( All Figures in Rs. Mn ) US Formulations India Branded Generics Emerging Markets Rest of World API & Others 29% 34% 17% 14% 6% Q1 FY23 Q1 FY22 # ROW includes Western Europe, Canada, Japan, Australia, New Zealand, Israel and other markets #
  • 52.
    Key Milestones targetedfor future 52 • Enhance share of specialty/branded business • Continue to focus on complex generics and high entry barrier segments • Ensure broad product offering to customers across multiple dosage forms US Business US Business • Focus on productivity enhancement • Maintain leadership position in a fiercely competitive market • Continuously innovate to ensure high brand equity with doctors • Continue to evaluate in-licensing opportunities for latest generation patented products India Business India Business • Gain critical mass in key markets • Enhance product basket in emerging markets • Focus on profitable growth EM & RoW Business EM & RoW Business • Maintain leadership in existing markets through focus on innovative solutions • Enhance presence in high growth markets Global Consumer Healthcare Global Consumer Healthcare
  • 53.
    Key Milestones targetedfor future 53 • Unwavering focus on Sustainability, built on a legacy rooted in caring for people, communities and the planet. • Committed to Governance, Community Upliftment, Access to Affordable Healthcare & Environment Conservation Sustainability Sustainability • Focus on developing complex products across multiple dosage forms • Invest to further build the specialty pipeline R&D R&D • Ensuring 24x7 compliance to cGMP • Continuously enhance systems, processes, human capabilities to ensure compliance with global regulatory standards Regulatory/ Quality Regulatory/ Quality • Target high-single digit to low double-digit consolidated topline growth for FY23 • Focus on sustainable and profitable growth • Focus on improving overall return ratios Financial Financial
  • 54.
    54 Sun Pharma ata glance 4th Largest Global Specialty Generic Company* 4th Largest Global Specialty Generic Company* • Ranked 8th in US Generics Market## US US • No. 1 Pharma Company in India India India • Amongst the largest Indian Pharma Company in Emerging Markets Emerging Markets Emerging Markets • Expanding presence in Rest of World markets Rest of World Markets Rest of World Markets • 43 manufacturing sites across the world Manufacturing Footprint Manufacturing Footprint • Presence in more than 100 countries across branded and generic markets Market Presence Market Presence • 38,000+ global employee base Employees Employees • Multiple manufacturing facilities approved by various regulatory authorities across the world including USFDA Quality Compliance Quality Compliance • Capabilities across dosage forms like injectables, sprays, ointments, creams, liquids, tablets and capsules R&D and Manufacturing R&D and Manufacturing • Specialty products, branded generics, generics & APIs Addressable Segments Addressable Segments *Source: Evaluate Pharma Estimates for 12 months ended Dec 2021 ## Source: IQVIA data for 12 months ended April 2022
  • 55.
    Thank You Investors: Nimish Desai Tel: +91 22 4324 4324, Ext 2778 Tel Direct +91 22 4324 2778 nimish.desai@sunpharma.com Thank You! For more information please contact: 55 © 2017 Sun Pharmaceutical Industries Limited., All Rights Reserved. “SUN Pharma”, The Sun Pharmaceutical Industries Logo are trademarks of Sun Pharmaceutical Industries Limited. This material was used during an oral presentation; it is not a complete record of the discussion. This work may not be used, sold, transferred, adapted, abridged, copied or reproduced in whole on or in part in any manner or form or in any media without the prior written consent. All product names and company names and logos mentioned herein are the trademarks or registered trademarks of their respective owners. Corporate Address: SUN HOUSE, CTS No. 201 B/1, Western Express Highway, Goregaon (E), Mumbai 400063 NSE:SUNPHARMA, BSE: 524715, Reuters: SUN.BO, Bloomberg: SUNP IN CIN: L24230GJ1993PLC019050 www.sunpharma.com