Slide 1: Exchange filing cover letter: Corporate Presentation
Biocon Limited 20th KM, Hosur Road Electronic City Bangalore 560 100, India T: 91 80 2808 2808 F: 91 80 2852 3423 CIN: L24234KA1978PLC003417 www.biocon.com BIO/SECL/SP/2024-25/70 August 19, 2024 To, To, The Manager The Manager BSE Limited National Stock Exchange of India Limited Department of Corpor
Slide 2: Management Presentation, Biocon Limited, August 2024
Management Presentation Biocon Limited August 2024 The Multiplier Effect MAXIMIZING VALUE The Multiplier Effect MAXIMIZING VALUE
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides have been prepared by the Biocon Limited (“Company”) and its subsidiaries and affiliates (together, the “Group”). This presentation contains selected information about the activities of the Company and the Group as at the date of this presenta
Slide 4: Agenda
Agenda 1 Executive Summary 4 2 Biocon Business Segment Profile 9 3 Financial Performance 22 The Multiplier Effect MAXIMIZING VALUE 3
Slide 5: 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 6: 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 7: Biocon Group at a Glance
Biocon Group at a Glance 120+ • One of the first, fully integrated global biogeneric company out of India (Current M-cap3: USD 4.9bn) Countries reached commercially1 • Established 45-year track record of innovation and growth • Cutting-edge science, globally scaled installed manufacturing capacity a
Slide 8: Biocon – A Leading Global Biogeneric Company
Biocon – A Leading Global Biogeneric Company Diversified operations, common heritage and integrated capabilities with operational synergies 1 2 3 4 Biosimilars Generics Research Services Novel Biologics Expanding access through Ensuring access through Partnering to deliver Discovering new innovative
Slide 9: Agenda
Agenda 1 Executive Summary 4 2 Biocon Business Segment Profile 9 3 Financial Performance 22 The Multiplier Effect MAXIMIZING VALUE 8
Slide 10: 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 11: Biosimilars – Global Market Overview
1 Biosimilars – Global Market Overview Global Biosimilars set to grow at c. 18% CAGR over the next 3 years Global biosimilars market size Key growth drivers and trends in the global biosimilars market ✓ Large opportunity with 45+ blockbusters expected to lose exclusivity with total peak sales of USD
Slide 12: Biosimilars – Huge Near and Mid Term Opportunity
1 Biosimilars – Huge Near and Mid Term Opportunity Very large opportunity with 45+ blockbusters1 (est. peak annual sales of USD 270+ bn) expected to lose exclusivity by 2032 Cumulative global annual peak sales USD bn Actual Projected 85 65 45 45 21 15 16 16 7 5 4 1 2020 2021 2022 2023 2024 2025 2026
Slide 13: 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 14: Biosimilars - State-of-the-Art Global Scale Manufacturing Facilities
1 Biosimilars - State-of-the-Art Global Scale Manufacturing Facilities USD1bn+ capital invested in building state-of-the-art globally scaled manufacturing footprint Global scale manufacturing facilities Comprehensive manufacturing capabilities Drug substance Drug product Devices • Insulins • Sterile
Slide 15: 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 16: 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 operat
Slide 17: 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 CRDMO Market Size Sustained investments Growing demand for Increasing preference for in R&D biologics CDMO services integrated service providers USDbn 211 R&D spending at 7% CAGR
Slide 18: Syngene – One-stop CRDMO Service Platform
3 Syngene – One-stop CRDMO Service Platform Offering clients integrated services from drug discovery to commercial scale manufacturing Discovery Development Manufacturing c Research business Development and manufacturing business Discovery Services Dedicated R&D Centers Development Services Manufact
Slide 19: 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 20: 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 21: Biocon - Key Growth Drivers
Biocon - Key Growth Drivers Commentary 5 potential monoclonal antibody product launches over the next 24 Biosimilars - multiple new product launches in near term months across multiple geographies1. Insulin market dynamics presenting long term growth opportunity Liraglutide is the 1st GLP peptide to
Slide 22: Agenda
Agenda 1 Executive Summary 4 2 Biocon Business Segment Profile 9 3 Financial Performance 22 The Multiplier Effect MAXIMIZING VALUE 21
Slide 23: 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% 38% growth 1,769 USDmn USDmn 4996 1,340 23% 346 981 28% 262 755 856 58% 212 229 2107 30% 31% 31% 48% 412 35% 38% 41% 22% 34% 32% 28% 24% 19% 59% 19% FY20 FY21 FY22 FY23
Slide 24: 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 25: Biocon – Group Debt Position
Biocon – Group Debt Position Gross Debt Over the Years USD mn Short Term Borrowings (1) 37% 50% 44% 44% 253 14% 2,131 OCDs (2) 1,886 1,896 181 10% USD 1,896mn NCDs (3) 228 12% Term Loans 588 1,234 65% FY22 FY23 FY24 Q1FY25 Debt-Equity Ratio FY24 highlights Gross Debt Position USD 250mn long-term b
Slide 26: Appendix
Appendix The Multiplier Effect MAXIMIZING VALUE
Slide 27: 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 28: Biocon Ownership Organization Structure – Key Subsidiaries
Biocon Ownership Organization Structure – Key Subsidiaries Shareholding (June 30, 2024) Biocon Limited Consolidated Market Cap 1: USD 4,907mn 19% Promoter Revenue 2 (FY24A): USD 1,769mn 61% Institutions 20% EBITDA (FY24A): USD 499mn Others Total Debt (June 30, 2024): USD 1,896mn Cash 3 (June 30, 202
Slide 29: Biocon - Senior Management and Board of Directors
Biocon - Senior Management and Board of Directors Senior Management Team Board of Directors 56% Independent Kiran Mazumdar-Shaw Peter Bains Board Executive Chairperson Group CEO Members Biocon Limited & Biocon Biocon Limited Biologics Limited 33% Kiran Mazumdar Siddharth Ravi Bobby Kanubhai Female S
Slide 30: 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 31: 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 32: 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 33: Acquisition of Viatris' Global Biosimilars Business
USD 3bn+ Acquisition of Viatris’ Global Biosimilars Business • Total consideration of USD 2.3bn in cash and USD 1bn in CCPS Financing • Deferred Consideration of USD 335mn in FY25 of which USD Considerations Equity financing USD 800mn Debt financing USD 1,200mn 175mn has been paid Transformational d
Slide 34: 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 35: Generics – Key APIs and Formulations Portfolio
Generics – Key APIs and Formulations Portfolio APIs* Formulations Launched Approved Dev Therapeutic Area Molecule Therapeutic Area Molecule Therapeutic Area Molecule US Markets: MoW1 ex-US Apixaban Tacrolimus Rosuvastatin Calcium UK, EU$ Simvastatin Atorvastatin Mycophenolate Mofetil Atorvastatin My
Slide 36: 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, H
Slide 37: 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 38: 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 39: Recognition of ESG Initiatives
Recognition of ESG Initiatives S&P Global Recognized among World’s Most Sustainable Companies in S&P Global 2024 Sustainability Yearbook Dow Jones Sustainability Improved ESG score of 63, part of Emerging Markets Index & 2024 Sustainability Yearbook Indexes CDP CDP scores ‘A’ for Supplier Engagement
Slide 40: Biocon Group – EBITDA to PAT Bridge
Biocon Group – EBITDA to PAT Bridge USD mn FY20 FY21 FY22 FY23 FY24 Q1FY25 EBITDA 212 229 262 346 499 210 Less: Interest & finance charges 8 7 8 50 117 28 Less: Depreciation & Amortization 66 86 98 133 188 49 Share of loss in JV/Associate, net 0 9 25 20 10 0 PBT before exceptional item 138 126 131 1