Biocon Limited · NSE:BIOCON
Biocon — Investor Presentation (January 2025)
38 slides from Biocon's investor presentation, January 2025
Slide 1: Corporate Presentation Biocon Limited
Corporate Presentation Biocon Limited January 2025 The Multiplier Effect MAXIMIZING VALUE The Multiplier Effect MAXIMIZING VALUE
Slide 2: Safe Harbor Statement
Safe Harbor Statement “Certain statements in this release concerning our future growth prospects are forward-looking statements, which are subject to risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated in such forward-looking statements.
Slide 3: Agenda
Agenda 1 Executive Summary 4 2 Biocon Business Segment Profile 8 3 Financial Performance 19 The Multiplier Effect MAXIMIZING VALUE 3
Slide 4: Biocon is a Diversified, Globally scaled, Biogenerics company anchored in India
Biocon is a Diversified, Globally scaled, Biogenerics company anchored in India, well positioned to capitalize on the Large, Long Term Market Opportunities; Poised at an Inflection Point for Robust Growth in the next 3 to 5 years Generics Biosimilars GLP-1s and Research Peptides Services 4
Slide 5: Biocon's Vision, Priorities and Differentiators
Biocon’s Vision, Priorities and Differentiators Vision Enhance global healthcare through innovative and affordable biopharmaceuticals for patients, partners and healthcare systems across the world Our Priorities Differentiators And Growth Drivers Globally scaled diversified biogeneric enterprise Pat
Slide 6: Biocon Group - A leading global biopharmaceutical company
Biocon Group - A leading global biopharmaceutical company Improving patients' lives by delivering affordable healthcare products and differentiated services 47+ Market cap of 120+ 100+ 14 of Top 20 1,700+ 8 year legacy USD 5.02 Bn2 Countries where cGMP Pharma companies Patents1 Manufacturing Biocon
Slide 7: Agenda
Agenda 4 1 Executive Summary 4 2 Biocon Business Segment Profile 8 3 Financial Performance 19 The Multiplier Effect MAXIMIZING VALUE 7
Slide 8: Biosimilars - Well Positioned in a Fast-Growing Segment of The Pharma Market
1 Biosimilars - Well Positioned in a Fast-Growing Segment of The Pharma Market Biocon focuses on Oncology, Immunology and Diabetes which are TAs with large scale and potential spending growth Global Pharmaceutical Market Size1 (USD bn) Top global therapeutic areas by projected global spending 500 Bi
Slide 9: Biosimilars - Overview of the Global Pharmaceutical Market
1 Biosimilars - Overview of the Global Pharmaceutical Market Significant unmet needs and improved patient outcomes underscore the opportunity in biologics Biosimilars offer more affordable and sustainable Biosimilar adoption in most major markets has alternatives to healthcare systems increased to ~
Slide 10: Biosimilars - Vertically Integrated Biosimilar Enterprise Capabilities
1 Biosimilars - Vertically Integrated Biosimilar Enterprise Capabilities Research & Development Global Scale Manufacturing Commercialization Robust in-house R&D capabilities built on Fully Integrated ‘Lab To Market’ Globally Direct presence + Network of partners & cutting-edge technology platform Sc
Slide 11: Biosimilars - Strong Global Commercial Presence
1 Biosimilars - Strong Global Commercial Presence Strong commercial presence and established …leading to significant market network of robust partnerships... shares across the globe Advanced Advanced Markets Markets 21 16 300+ Fulphila (bPegfilgrastim) 23 % Abevmy 29 % (bBevacizumab) self-led partne
Slide 12: Generics - Complex API and Generic Formulations Player
2 Generics - Complex API and Generic Formulations Player Vertically integrated, globally scaled enterprise with end-to-end capabilities Development and 01 Portfolio 02 Manufacturing 03 Commercial Diverse Portfolio of Generic Manufacturing sites enabling supply reliability Market expansion through di
Slide 13: Generics - Biocon is an Early Mover in Developing Generic GLP-1s
2 Generics - Biocon is an Early Mover in Developing Generic GLP-1s GLP-1s are among one of the fast-growing segments in the Global Near, Mid- and Long-Term opportunity: Biocon developing multiple pharmaceutical market1 Peptides • Demonstration of scientific capabilities • Vertically integrated opera
Slide 14: Syngene – Well Positioned in The Highly Attractive CRDMO Market
3 Syngene – Well Positioned in The Highly Attractive CRDMO Market Market trends supportive of long-term industry growth Key market trends supportive of long- With twin engine growth strategy, Syngene well positioned to capture CRDMO Market Size term growth opportunity USDbn ✓ Sustained growth in R&D
Slide 15: Syngene – One-stop CRDMO Service Platform
3 Syngene – One-stop CRDMO Service Platform Offering clients integrated services from drug discovery to commercial scale manufacturing Multi functional state-of-the-art infrastructure facilities & new capabilities across different locations within India to meet strategic partners needs HQ campus at
Slide 16: Novel Biologics – Leveraging Biocon's Innovation Heritage
4 Novel Biologics – Leveraging Biocon’s Innovation Heritage Discovering potential first-in-class novel therapies in a capital light manner Program Target Discovery IND-enabling Phase I Phase II Phase III Indication Global Market Potential2 aGVHD7 USD 6.0bn (2033E) CD6-ALCAM Itolizumab1 SLE8/Lupus ne
Slide 17: Biocon - Key Growth Drivers
Biocon - Key Growth Drivers Commentary 5 potential monoclonal antibody product launches across multiple Biosimilars - Multiple new product launches in near term geographies1. Insulin market dynamics presenting long term growth opportunity Liraglutide is the 1st GLP peptide to lose exclusivity with B
Slide 18: Agenda
Agenda 4 1 Executive Summary 4 2 Biocon Business Segment Profile 9 3 Financial Performance 19 The Multiplier Effect MAXIMIZING VALUE 18
Slide 19: Biocon Group - Robust Financial Performance
Biocon Group - Robust Financial Performance Revenue from operations1 EBITDA2 % yoy % margin 14% 13% 15% 37% 32% 27% 26% 26% 25% 27% 27% growth 1,769 USDmn USDmn 4996 1,340 23% 1,294 3897 346 981 28% 24% 262 755 856 58% 212 229 30% 31% 31% 48% 58% 35% 38% 41% 34% 32% 28% 24% 19% 18% FY20 FY21 FY22 FY
Slide 20: Significant R&D Investments to Drive Next Phase of Growth
Significant R&D Investments to Drive Next Phase of Growth R&D Performance Highlights – FY24 Gross R&D Investments Biocon Limited Biocon Biologics USD mn Product 83% 88% 84% 94% 99% 100% Launches 5 25 >2x 143 139 Products in the Generic pipeline 33 APIs 50 Formulations 12 c. 90% of gross Products in
Slide 21: Biocon – Group Debt Position
Biocon – Group Debt Position Gross Debt Over the Years USD mn (1) Short Term Borrowings 37% 50% 44% 368 18% 2,131 2,023 1,886 (2) OCDs 186 9% USD 2,023 mn Term Loans 1,231 (3) 588 NCDs 61% 238 12% FY22 FY23 FY24 9MFY25 Debt-Equity Ratio FY24 highlights Gross Debt Position USD 250mn long-term borro
Slide 22: Appendix
Appendix The Multiplier Effect MAXIMIZING VALUE
Slide 23: Biocon Through the Years
Biocon Through the Years FY1999 Revenue FY2004 Revenue FY2009 Revenue FY2015 Revenue FY2019 Revenue FY2024 Revenue USD 5mn USD 85mn USD 184mn USD 484mn USD 820mn USD 1.8bn 1978 2000 2005 2010 2019 2023 to to to to to & 1999 2004 2009 2018 2022 beyond Building the Base Poised for Global Working on Tr
Slide 24: Biocon Ownership Organization Structure – Key Subsidiaries
Biocon Ownership Organization Structure – Key Subsidiaries Shareholding (Dec 31, 2024) Biocon Limited Consolidated Market Cap 1: USD 5,023 mn 19% Promoter Revenue 2 (9MFY25): USD 1,294 mn 61% Institutions 20% EBITDA (9MFY25): USD 389 mn Others Total Debt (Dec 31, 2024): USD 2,023 mn Cash 3 (Dec 31,
Slide 25: Biocon - Senior Management and Board of Directors
Biocon - Senior Management and Board of Directors Senior Leadership Team Board of Directors 56% Independent Kiran Mazumdar-Shaw Peter Bains Board Executive Chairperson Group CEO Members Biocon Limited & Biocon Biocon Limited Biologics Limited Kiran Mazumdar Shaw Siddharth Mittal Ravi Mazumdar 33% Ex
Slide 26: Evolution of Biosimilars Platform
Evolution of Biosimilars Platform Journey of Biocon’s Biosimilars Business 2004 2016 - 2017 2020 2022 2024 • 1st company to develop • 1st company from India • First external investment of • Acquisition of Viatris’ • 1st company to get U.S. FDA approval for rh-Insulin on a to have a biosimilar USD 65
Slide 27: Proven R&D Capabilities Backed by Cutting-edge Science and Technology
Proven R&D Capabilities Backed by Cutting-edge Science and Technology Strong R&D resources built upon a 40+ year legacy of End-to-end in-house R&D capabilities from early cutting-edge science and technology platform development through to regulatory affairs Invested > USD 1bn in biosimilars ahead
Slide 28: R&D Excellence with Many 'Firsts' on the Global Stage
R&D Excellence with Many ‘Firsts’ on the Global Stage 2004 2016 2024 2018 1st company to develop rh- 1st company from India to 1st company to get U.S. FDA 1st company to get U.S. FDA Insulin on a proprietary Pichia have a biosimilar approved approval for Interchangeable approval for bPegfilgrastim p
Slide 29: Biosimilars - Strong Pipeline Assets in Strategically Focused Therapeutic Areas
Biosimilars - Strong Pipeline Assets in Strategically Focused Therapeutic Areas Robust in-house R&D capabilities with a pipeline of 4 late-stage and 9 early-stage assets coupled with 390+ patents globally Ophthalmology Immunology Bone health / Oncology 2 undisclosed assets Aflibercept – approved in
Slide 30: USD 3B+ acquisition to build fully integrated global capabilities
USD 3B+ acquisition to build fully integrated global capabilities Acquired Viatris’ global biosimilars business to add the commercial front-end to existing capabilities Transformational acquisition completed in November 2022 Research & Development One of the largest outbound pharma deals from India
Slide 31: Generics – Snapshot of Key Metrics
Generics – Snapshot of Key Metrics Presence in 750+ Global pharma companies 100+ countries including U.S., served Europe & large Emerging Markets Portfolio comprises 7 50+ APIs State-of-the-art manufacturing facilities 75+ Generic formulations Biocon Generics 390+1 90+ cGMP approvals received from P
Slide 32: Generics – Key APIs and Formulations Portfolio
Generics – Key APIs and Formulations Portfolio Formulations Launched Approved APIs* Dev Therapeutic Area4 Molecule Therapeutic Area Molecule Therapeutic Area Molecule US Markets: MoW1 ex-US Tacrolimus Rosuvastatin Calcium UK, EU$ Apixaban Simvastatin Atorvastatin Mycophenolate Mofetil Atorvastatin M
Slide 33: Robust portfolio of 20 products
Robust portfolio of 20 products Addressing a market opportunity of USD 160B+ Approved Late Stage Early Stage Pegfilgrastim Denosumab Oncology Trastuzumab 1 undisclosed 2 Pertuzumab Bevacizumab R&D sites Adalimumab Immunology Etanercept 3 undisclosed Ustekinumab Glargine U100 Glargine U300 300+ Diabe
Slide 34: Syngene – Snapshot of Key Metrics
Syngene – Snapshot of Key Metrics USD 418* Mn 400+ FY24 Revenue from operations active clients USD 62Mn** 14 out of top 20 pharma FY24 PAT companies are clients 8,146 headcount including 400+ 5,656 talented scientists Patents held with clients 82% World class infrastructure 3 campuses in Bangalore,
Slide 35: Syngene – One-stop CRDMO Service Platform
Syngene – One-stop CRDMO Service Platform Long-term relationships and experience with top-notch clientele Servicing 400+ clients across subsectors, ranging from biotechs to large pharma players - Served 14 of global top 20 pharmas Large & Mid-sized BioPharma Emerging BioPharma (EBP) AgroChem Chemica
Slide 36: ESG: Going Beyond Financials to Have a Positive Impact
ESG: Going Beyond Financials to Have a Positive Impact Committed to Managing Performance and Improving Outcomes Driving Creating Promoting Ensuring Enabling ‘Patient Equity’ ‘People Equity’ ‘Environment Equity’ ‘Stakeholder Equity’ ‘Social Equity’ Improve access to Build an empowering Adapting susta
Slide 37: Recognition of ESG Initiatives
Recognition of ESG Initiatives S&P Global CSA Recognized among World’s Most Sustainable Companies, ESG score improved to 69 from 63 in 2024 S&P Global Assessment. Dow Jones Sustainability Part of Emerging Markets Index & 2024 Sustainability Yearbook Indexes CDP CDP scores ‘A’ for Supplier Engagement
Slide 38: Biocon Group – EBITDA to PAT Bridge
Biocon Group – EBITDA to PAT Bridge USD mn FY20 FY21 FY22 FY23 FY24 9MFY25 EBITDA 212 229 262 346 499 389 Less: Interest & finance charges 8 7 8 50 117 82 Less: Depreciation & Amortization 66 86 98 133 188 149 Share of loss in JV/Associate, net 0 9 25 20 10 0 PBT before exceptional item 138 126 131