Formosa Laboratories, Inc. · TWSE:4746
Formosa Laboratories — Investor Presentation (September 2023)
23 slides from Formosa Laboratories's investor presentation, Sep 1, 2023
Slide 1: Formosa Laboratories, Inc. TWSE 4746
Ay onmosa F@RMOSA LABORATORIES, INC. TWSE 4746 2023/9/1 Hope, Passion, Innovation, Sustainability
Slide 2: Disclaimer
Disclaimer This material has been prepared by Formosa Laboratories Inc. (“Formosalab”). Any opinions expressed in this material are subject to change without notice as a result of using different assumptions. Formosalab is under no obligation to update or keep current the information contained herei
Slide 3: 2023 up-to-July Operation Results, Business Strategy, Business Update
• 2023 up-to-July Operation Results • Business Strategy • Business Update 2023/9/1 3
Slide 4: Operation Results
Operation Results 2023/9/1 4
Slide 5: 2023 Up-to-July Topline Results
2023 Up-to-July Topline Results 4,000 3,766 3,500 3,075 3,142 3,000 2,760 2,500 2,362 2,000 1,500 1,000 500 0 Million NTD 2023/9/1 5
Slide 6: Revenues-2023 up to July YoY 17%
Revenues-2023 up to July YoY 17% Million NTD YoY Polymers 834 19% Vit. D Derivatives 497 38% CDMO 278 -4% Respiratory Agents 263 61% Anticancer 117 110% Steroid 33 68% Total 2,362 17% 2023/9/1 6
Slide 7: Product Category
Product Category 100% 8% 8% 5% 6% 10% 5% 2% 90% 4% 3% Others 7% 3% 6% 4% 7% 6% 3% 5% 80% 6% CNS 6% 5% 3% 6% 3% 11% 3% 9% 70% 5% 6% Inflammation 8% 5% 12% 60% 14% 16% 9% 12% UV 50% 18% 21% Anticancers 19% 19% 19% 40% Respiratory 30% CDMO 20% 36% 37% 33% 33% 34% Vit. D Derivatives 10% Polyermers 0% 20
Slide 8: 2023H1 Profitability
2023H1 Profitability Cash dividend NT$0.48 BP per share NT$62.32 50.0% 45.0% 44.5% 40.0% 39.4% 35.0% 37.3% 30.0% 29.8% 30.8% 30.5% 25.0% 20.0% 21.6% 15.0% 12.9% 13.8% 10.0% 10.8% 5.0% 7.7% 8.0% 6.2% 0.4% 2.9% 0.0% 2019 2020 2021 2022 2023 H1 GM Operating Margin Net Margin 2023/9/1 8
Slide 9: 2022-2023Q2 Gross Margin Keeps Growing
2022-2023Q2 Gross Margin Keeps Growing 500 100% 475 450 462 90% 413 400 399 80% 350 70% 300 303 60% 250 255 44% 46% 50% 42% 39% 200 36% 40% 31% 150 30% 100 20% 50 10% - 0% 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 GM GP Million NTD 2023/9/1 9
Slide 10: Business Strategy
Business Strategy 2023/9/1 10
Slide 11: Integrated RD and Manufacturing
Integrated RD and Manufacturing • High quality GMP Generic • Stable supply API • Effective output to fulfill customer’s demand • Vertical integration Injectable • Supply from development to commercialization stage • One-stop-shop service from drug CDMO substance to drug product • ADC and peptide CDM
Slide 12: Alliance with diversified areas
Alliance with diversified areas Biologics API ADC Injectable CDMO ADC Nano-tech HPAPI Nebulizer 2023/9/1 12
Slide 13: Key Business
FORMOSA Key Business 2023/9/1 13
Slide 14: API Products
API Products Anticancers CNS Agents Anti-inflammatory Immunomodulators &Analgesic Agents MRI Enhancing Steroids Agents Respiratory Agents Vit. D Derivatives Polymeric Drugs Antibiotics 2023/9/1 14
Slide 15: Company history and milestones
2000 1995 -Started API cGMP Production 2000 2002 -1st TFDA inspection 2002 2004 2004 -1st FDA inspection 2008 2008 -Merged with LC United Chemical Corporation 2009 2009 -1st PMDA inspection 2011 -Commission HPAPI facility 2011 -1st COFEPRIS inspection 2021 -IPO -GMP inspected by TFDA for packaging a
Slide 16: Key API Products
Key API Products • Improve throughput • Expand manufacture capacity • Stable supply chain 2023 Highlight • Polymer products stay strong market share with stable clients’ demand. New manufacturing line will start 2023Q3. • Sevelamer API approved in China. • Respiratory API sales keeps growing. • Ster
Slide 17: Comprehensive CDMO Service-One Stop Shop
Comprehensive CDMO Service-One Stop Shop 2023/9/1 17
Slide 18: Comprehensive CDMO Service-One Stop Shop
Comprehensive CDMO Service-One Stop Shop API/DS Labelling/ CMC Injectable Research Packaging/ Development Manufacturing Manufacturing Logistics • Build up alliance to expand US market. A few projects ongoing • Stable CMO supply to originator in Japan, Europe, and US • Multiple projects enters valida
Slide 19: One stop ADC services
Once stop ADC services Service scope • Process development • ADC screening platform • Scale-up • Comprehensive analytical services • Formulation development and manufacturing services Peptide, Polymer ADC CDMO highlight • Clients includes US, China, Europe, and Taiwan • Support clients from RD to cl
Slide 20: Advanced Technology
Advanced Technology • Build up Peptide Synthesis Laboratory with automatic solid- phase microwave synthesis • Set up Microfluidic Reactor scale-up planned in 2023Q4 2023/9/1 20
Slide 21: Injectable Plant Status
Injectable Plant Status • Authority inspection is ongoing • Cytotoxic line - TFDA: 2022Q2 - FDA: 2024 • General line - TFDA: 2024 - FDA: 2025 • Feasible for biologic and chemical drug • Liquid and Lyophilization product • Clinical trial and commercial scale 2023/9/1 21
Slide 22: Self-development Injectable Products
Self-development Injectable Products Eribulin Injectable (Global market size USD 370 million, US Market USD 130 million , TW market NTD 450 million) • License-out in other territories is expected in 2023 • Licensing-out for other self-development injectable products is ongoing with global pharma 2
Slide 23: Q&A
OSA Q&A 2023/9/1 23
Formosa Laboratories — Investor Presentation (September 2023) on 6ix