Jubilant Pharmova Limited · NSE:JUBLPHARMA
Jubilant Pharmova — Investor Presentation (June 2024)
60 slides from Jubilant Pharmova's investor presentation, Jun 7, 2024
Slide 1: Investor Presentation Jun'24
Investor Presentation Jun’24
Slide 2: Disclaimer
Disclaimer Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential product characteristics and uses, product sales potential and target dates f
Slide 3: Jubilant Bhartia Group - Snapshot
Jubilant Bhartia Group - Snapshot Jubilant Bhartia Group founded by Shyam S. Bhartia and Hari S. Bhartia, leading industrialists from India Strong presence in diverse sectors like Pharmaceuticals, Life Science Ingredients, Contract Research & Development Services and Therapeutics, Performance Polyme
Slide 4: Company Snapshot
Company Snapshot A global pharmaceutical company with strong team of approx. 5,500 multicultural people & Revenue at Rs. 6,703 Cr. (FY24) 1 2 3 4 5 6 Allergy CDMO PROPRIETARY Radiopharma CRDMO GENERICS Immunotherapy Sterile Injectables NEW DRUGS • Leading • # 2 Player in the US • Leading contract •
Slide 5: Revenue Split (BU wise)
Revenue Split ( BU wise ) 12% Radiopharma Allergy Immunotherapy 16% 45% CDMO - SI CRDMO 17% Generics 10% 5
Slide 6: Global Manufacturing & Research Footprint
Global Manufacturing & Research Footprint World class manufacturing facilities, 2 state of the art research centers & 46 radiopharmacies Kirkland, Montreal, Canada Kirkland, Montreal, Canada Spokane, Washington, USA Spokane, Washington, USA CDMO – SteriIe Injectables Radiopharmaceuticals CDMO – Ster
Slide 7: Jubilant Pharmova in FY24
Jubilant Pharmova in FY24 Achieved strategic milestones; Improved overall financial performance to drive shareholder value 1 2 3 4 5 6 INNOVATE STRENGTHEN GROW BUILD STEER DISCOVER Allergy CDMO PROPRIETARY Sterile Injectables CRDMO GENERICS Radiopharma Immunotherapy NEW DRUGS • Launched Sulfur • Gai
Slide 8: Radiopharmaceuticals
1 Radiopharmaceuticals Growing role in treatment of life threatening diseases Single-photon Emission Positron Emission Radiopharmaceutical Computed Tomography Tomography Therapeutics (SPECT Imaging) (PET Imaging) (Tx) • Uses “low-energy” radio • Radiation is systemically or locally delivered • Uses
Slide 9: Radiopharmaceuticals
Radiopharmaceuticals US radiopharmaceutical market is expected to reach approx. USD 20 Bn. by 2030, growing at a CAGR of 20 %+ US Radiopharmaceutical Market (USD Bn.) Growth Drivers and Key Trends • Growth driven by superior imaging and therapeutics profiles, new emerging isotopes with low off targe
Slide 10: Radiopharmaceuticals
Radiopharmaceuticals Consolidated market with high entry barriers Stringent manufacturing & regulatory environment Adherence with extensive license framework. Stringent manufacturing set up required to handle isotopes Managing time sensitive Forward integration logistics with radiopharmacies Radioac
Slide 11: Radiopharmaceuticals
Radiopharmaceuticals We are one of largest manufacturer in the addressable market in the US with a wide radiopharmaceutical portfolio Organ Type Product Key Indication SPECT Tc99m-DTPA Pulmonary Embolism Key Differentiators Lung SPECT Tc99m-MAA Pulmonary Perfusion Localizing metastases • Diversified
Slide 12: Market leadership in select products - MAA, DTPA and I-131
Radiopharmaceuticals Market leadership in select products - MAA, DTPA and I-131 Draximage ® MAA Draximage ® DTPA HICON® Sodium Iodine I 131 Solution USP MAA is used in the perfusion DTPA is used to assess HICON® is a radioactive phase of a ventilation/perfusion pulmonary ventilation function in ther
Slide 13: Innovation Leadership in Ruby-Fill
Radiopharmaceuticals Innovation Leadership in Ruby - Fill ® which is gaining market share consistently Growing Cardiac PET Market in the US Ruby-Fill ® Rubidium 82 generator and Elusion System ~420 • The RUBY-FILL® Rubidium 82 Generator ~375 contains accelerator produced Strontium-82, ~335 ~300 whic
Slide 14: Ruby-Fill and Robust product pipeline
Radiopharmaceuticals Ruby-Fill® and Robust product pipeline to fuel future business growth New Product led volume Ruby-Fill® PET & SPECT Development of therapeutic growth Growth potential Product Pipeline product - MIBG • Gain market share in the • Target to launch new • Completed patient dosing gro
Slide 15: Radiopharmaceuticals: Driving revenue growth
Radiopharmaceuticals Driving revenue growth Particulars ( Rs. Cr.) Q4’FY23 Q3’FY24 Q4’FY24 Y-o-Y FY23 FY24 Y-o-Y • FY24 revenue grew YoY on the back of new products sales in Mertiatide, Sulfur colloid and growth in Ruby-Fill® Revenue 215 241 256 19% 872 952 9% • FY24 EBITDA increased YoY on the back
Slide 16: Radiopharmacy
Radiopharmacy US Radiopharmacy market is expected to grow on the back of novel PET & Therapeutic products SPECT Radiopharmacy PET Radiopharmacy Growth Drivers and Key Trends • Radiopharmacy dispenses and distributes radiopharmaceutical products • Consolidated market in US with top 3 radiopharmacy ne
Slide 17: Radiopharmacy: Consolidated market with high barriers to entry
Radiopharmacy Consolidated market with high barriers to entry Consolidated Market Barriers to Entry Stringent Regulations # of radio # of 1 pharmacies SPECT PET hospitals Each treatment site is required to obtain a license from pharmacies pharmacies served in in the US the US Nuclear Regulatory Comm
Slide 18: 2nd largest radiopharmacy network in the US
Radiopharmacy 2nd largest radiopharmacy network in the US 46 nuclear USP<825> pharmacies JDR network is USP 825 including SPECT Portland WD compliant. and PET MT ND ME OR MN VT ID Saginaw NH 1,800 SD Minneapolis WI Detroit Wilkes NY Boston >100 WY MI Phila- RI radiopharmaceutical number of Barre PA
Slide 19: Radiopharmacy growth drivers
Radiopharmacy Ride on volume & new product led industry growth, evaluate opportunities for network expansion New Product led volume Enhance Operational Opportunity for Network growth Efficiencies Expansion • Drive revenue on the back of • Further strengthen performance • Opportunity to add pharmacy
Slide 20: Strategic investment in PET radiopharmacies yielded solid returns
Radiopharmacy Strategic investment in PET radio pharmacies yielded solid returns & validated our investment thesis Value Creation by Validation of our Investment in PET radiopharmacy Business Investment thesis in PET radiopharmacy Business 142.9 • JPL, Company’s wholly owned subsidiary invested USD
Slide 21: Radiopharmacy: Volume to drive revenue growth
Radiopharmacy Volume to drive revenue growth & operational efficiency to drive margin expansion Particulars ( Rs. Cr.) Q4’FY23 Q3’FY24 Q4’FY24 Y-o-Y FY23 FY24 Y-o-Y • FY24 revenue grew YoY on the back of increase in volume from new products Revenue 475 511 561 18% 1,681 2,050 22% • FY24 EBITDA incre
Slide 22: Allergy Immunotherapy
2 Allergy Immunotherapy Global market poised to reach USD 3 Bn. by 2028, growing at a CAGR of ~ 7% Most Common Allergies in US (2023) Global Allergy Immunotherapy Market ( USD Bn. ) Others Insect 6.4% 3.0 6.4% Food 2.2 10.0% Pollen 2.7 40.0% 2.0 Pet 10.9% 0.2 0.3 Mold Drug 2023 2028 12.7% 13.6% Non-
Slide 23: Jubilant is #2 player in US SCIT market
Allergy Immunotherapy Jubilant is #2 player in the US Sub-Cutaneous Allergy Immunotherapy market with strong entry barriers Strong Entry Barriers Key Differentiators • Highly concentrated US market with well established • # 2 player in the US SCIT allergy market & Sole Supplier players of Venom immu
Slide 24: Balanced Product Portfolio
Allergy Immunotherapy Balanced Product Portfolio Venom Extracts Allergenic Extracts Skin Testing Devices • Allergenic extracts (over 200 • Multiple skin test system includes • Venom extracts includes products for ComforTen, Quintest and Quintip products) includes products for Honey Bee, White-Faced
Slide 25: Three pronged growth strategy
Allergy Immunotherapy Moving ahead on three pronged growth strategy Enlarge US Venom Segment Gain market share in US Penetrate outside US market Allergenic extracts • Create customer awareness on • Use Venom products to gain • Penetrate the Europe market on the the Bee sting allergy through customer
Slide 26: Allergy Immunotherapy: Sustained growth momentum
Allergy Immunotherapy Sustained growth momentum & margin expansion Particulars ( Rs. Cr.) Q4’FY23 Q3’FY24 Q4’FY24 Y-o-Y FY23 FY24 Y-o-Y • FY24 revenue grew YoY on the back of volume & price increase Revenue 170 161 188 11% 603 679 13% • FY24 EBITDA margin increased YoY due to increase in revenue and
Slide 27: CDMO - Sterile Injectables
3 CDMO - Sterile Injectables Demand expected to outpace the supply by FY’26 Global CDMO-SI Market Size (in USD Bn.) Growth Drivers & Key Trends 20 • Increase in demand: Increasing number of 17 drugs/injectable in development pipeline driven by 16 biologics (65%+ of current pipeline) and LOEs 14 13 •
Slide 28: Structurally attractive market with key differentiators
CDMO - Sterile Injectables Structurally attractive market with key differentiators driving our growth Strong Entry Barriers Key Differentiators • Majority of commercial contracts are typically long • Deep and long-term relationships with our customers duration (typically 3 years or more with auto re
Slide 29: Collaborative partner with unique capabilities
CDMO - Sterile Injectables Collaborative partner with unique capabilities & strong customer relationships Full Suite of • Can handle Vial size from 2ml to 100 ml with batch size up to 2,000 ltr. Services • Full suite of services including sterile fill and finish (Liquid & Freeze dried), Ophthalmic (
Slide 30: Doubling of capacity at Spokane on track
CDMO - Sterile Injectables Doubling of capacity with state of the art technology at Spokane on track Timeline FY’24 FY’25 FY’26 FY’27 FY’28 LINE 3 Installation Media Fill Commercial Production LINE 4 Design Construction Installation Media Fill Commercial Production • Doubling Spokane capacity of ste
Slide 31: Reverted to normalised operations in Q4'FY24
CDMO - Sterile Injectables Reverted to normalised operations in Q4’FY24 Particulars ( Rs. Cr.) Q4’FY23 Q3’FY24 Q4’FY24 Y-o-Y FY23 FY24 Y-o-Y • FY24 revenue marginally decreased YoY due to extended shutdown in Q3’FY24 Revenue 321 303 259 (19%) 1,155 1,117 (3%) • FY24 EBITDA decreased YoY due extended
Slide 32: CRDMO: Drug Discovery Services, CDMO & API
4 CRDMO: Drug Discovery Services, CDMO & API Both Drug Discovery Services and API/Formulation Development markets are expected to grow at ~5-6% CAGR Growth Drivers for Drug Discovery Market Drug Discovery Services Market Size (USD Bn.) 10 • Large Pharma companies to de-risk their supply chain by add
Slide 33: CDMO API market
CDMO API market CDMO API Market is estimated to grow at a CAGR of ~ 6%+ from 2020 to 2026 CDMO API Market Size (USD Bn.) Growth Drivers for API Market ~ 130 + • Although API market is dominated by the small molecules, higher growth is experienced by HPAPIs and large molecule segments 18 ~ 95 + 16 •
Slide 34: End to end CRDMO services for small molecules
CRDMO : Drug Discovery Services & API We provide end to end CRDMO services for drug substance in small molecules CRDMO - Drug Discovery Services CDMO CRDMO - API Integrated Chemistry Research Contract Development & Advanced Intermediate Drug Discovery Centre Innovation Centre Manufacturing Centre &
Slide 35: Drug Discovery Services: Three Pronged growth strategy
Drug Discovery Services Three Pronged growth strategy Grow Diversify Drive Chemistry Services Customer Segment CDMO • Grow Chemistry services by • Diversify customer segment by • Drive CDMO: Building development offering differentiated services increasing the penetration at large capabilities and le
Slide 36: API
API Maximize market penetration & Transform operations by increasing cost effectiveness & asset utilisation Dominant position in select therapies • Comprehensive portfolio comprising of APIs from various therapeutic area - Central Nervous System, Cardiovascular System, Anti-infective and Anti- diabe
Slide 37: CRDMO DDS and API results
CRDMO DDS: Biotech Industry headwinds continues; Medium term outlook continues to be positive CRDMO API: Pricing pressure continues; Taking initiatives to reduce operating costs & increase capacity utilization Drug Discovery Services • FY24 revenue decreased YoY. Industry Particulars ( Rs. Cr.) Q4’F
Slide 38: Generics
5 Generics Global market to grow at a CAGR of 5 to 6% in the next 5 years Generics Market (USD Bn.) Overall Market • Overall market is growing on the back of increase in Chronic disease prevalence, loss of exclusivity for innovator products negated by pricing pressure in select markets ~ 532 Develop
Slide 39: Generics: Target EBITDA breakeven
Generics Target to reach EBITDA breakeven in short term & then grow profitability in the medium term Key Products & Facilities • Therapeutic areas - Cardiovascular System, Central Nervous System, Gastrointestinal and Multi Specialty • Global presence with serving more than 50 countries including US,
Slide 40: Growth Strategy for key markets
Generics Growth Strategy for key markets Grow the profitable Build business in Achieve profitability in the US Non-US International market Indian Market Market • Focus on scaling 2 key markets • Build and Scale branded • Focus on profitable sustainable to triple digit revenue in INR Cr. generics bus
Slide 41: Actions to propel US Generics towards profitability
Generics Actions to propel US Generics business towards profitability New Closure Productof ledIn-house volume Outsource manufacturing Grow through growth Operations Manufacturing to CMO’s launch of new products • Continued pricing pressure in • Outsource manufacturing to US • Grow the exports from
Slide 42: Lean & Agile operations through Roorkee & CMO Network
Generics Lean & Agile operations through facility in Roorkee & CMO Network Continuous De-risk Product supplies Continue Quality Improvement by outsourcing Cost Optimisation Implemented a large scale quality De-risking product supplies through Implemented cost optimization improvement program in Roor
Slide 43: Generics: Moving in the right direction
Generics Moving in the right direction • Target to reach EBITDA breakeven in short term Particulars ( Rs. Cr.) Q4’FY23 Q3’FY24 Q4’FY24 Y-o-Y FY23 FY24 Y-o-Y Revenue 199 199 201 1% 762 775 2% Grow profitable Non-US international business EBITDA (39) (31) (39) 1% (230) (141) 39% Achieve profitabil
Slide 44: Proprietary Novel Drugs Clinical stage precision therapeutics
6 Proprietary Novel Drugs Clinical stage precision therapeutics Advancing potent molecules to address unmet medical needs in Oncology & Auto immune diseases Lead Pre - Clinical Program Mechanism Indications Phase I /II Milestones Optimization (IND) ET(Essential Phase I data suggests thrombocythemia)
Slide 45: Key Indications for JBI-802
Proprietary Novel Drugs Key Indications for JBI - 802 Disease Indications Rationale JBI - 802 Response Non-Small cell lung cancer • STK11 mutation is observed in10-15% NSCLC (85 % of lung One patient with NSCLC having STK11 mutations showed (NSCLC) cancer is NSCLC). significant response on JBI-802,
Slide 46: Phase Two & Investigator led trials for JBI-802
Proprietary Novel Drugs Phase Two & Investigator led clinical trials to start for JBI-802 Product • JBI-802 Small molecule - CoREST Inhibitor Indications • Essential Thrombocythemia / Myeloproliferative Neoplasms • Lung cancer (NSCLC), Acute myeloid leukemia (AML) Scientific Rationale • CoREST inhib
Slide 47: Key Indications for JBI-778
Proprietary Novel Drugs Key Indications for JBI - 778 Disease Indications Rationale JBI – 778 Response Non-Small cell lung cancer • EGFR (epidermal growth factor receptor) mutations are • PRMT5 is involved in splicing Mutations (NSCLC) with or without brain observed in 10 - 50% of non-small cell lun
Slide 48: Proprietary Novel Drugs: Continue to invest
Proprietary Novel Drugs Continue to invest Particulars ( Rs. Cr.) Q4’FY23 Q3’FY24 Q4’FY24 Y-o-Y FY23 FY24 Y-o-Y • Continue to invest in two clinical stage programs Revenue 0 0 0 4 0 (100%) EBITDA (10) (5) (7) 30% (35) (30) 14% 48
Slide 49: Consolidated Reported Financials – Q4 FY24 & FY24
Consolidated Reported Financials – Q4 FY24 & FY24 Total Income growth (YoY) along with EBITDA margin expansion (YoY) Particulars ( Rs. Cr.) Q4’FY23 Q3’FY24 Q4’FY24 Y-o-Y FY23 FY24 Y-o-Y • FY24 Total Income grew YoY on the back of Revenue 1,678 1,677 1,759 5% 6,282 6,703 7% growth in revenue in Radio
Slide 50: Key Ratios
Key Ratios Net Debt / Ebitda is moving in the right direction Particulars ( Rs. Cr. ) Mar 31, 2023 Mar 31, 2024 • Strong focus on working capital and cash flow management Gross Debt ( Net of DIC ) 3,410 3,414 • Net cash generated from operating activities Net Debt ( On constant currency ) 2,426 2,46
Slide 51: Sustainability
Sustainability Signed PPA1 & SHA2 to purchase renewable energy for 92% of electricity demand by JPM entities in Karnataka in FY24 Climate B Water B Supply Chain B Achieved 93 percentile Achieved 85 percentile 23709 patients consulted through 41.5 % reduction in Specific 22.5% reduction in Specific W
Slide 52: Summary – Q4'FY24 & FY24
Summary – Q4’FY24 & FY24 Radio Pharmaceuticals : New products Mertiatide & Sulfur Colloid and Ruby-Fill® driving growth momentum 1 Radio Pharmacies : Volume led growth & operational efficiencies driving margin expansion 2 Allergy Immunotherapy : Sustained growth momentum & EBITDA margins 3 CDMO Ster
Slide 53: Financial Results Table
Financial Results Table Total Income ( Rs. Cr. ) Q4’FY23 Q3’FY24 Q4’FY24 FY23 FY24 Revenue (A) 1,678 1,677 1,759 6,282 6,703 a. Radiopharma 689 752 818 2,552 3,001 Radiopharmaceuticals 215 241 256 872 952 Radiopharmacies 475 511 561 1,681 2,050 b. Allergy Immunotherapy 170 161 188 603 679 c. CDMO St
Slide 54: Annexure
Annexure
Slide 55: JPM Business Strategy
JPM Business Strategy To strengthen the unique position of each of the business unit to enhance shareholder value 1 2 3 4 5 6 INNOVATE STRENGTHEN GROW BUILD STEER DISCOVER Allergy CDMO PROPRIETARY Sterile Injectables CRDMO GENERICS Radiopharma Immunotherapy NEW DRUGS • Continue to grow • Gain share
Slide 56: Executive Leadership Team
Executive Leadership Team Shyam S Bhartia Hari S Bhartia Priyavrat Bhartia Arjun S Bhartia Chairman Co-Chairman Managing Director Joint Managing Director Arvind Chokhany Shantanu Jha Dr. Tushar Gupta Group CFO, Group CHRO SVP – Corporate Strategy 56 Whole-time Director
Slide 57: Executive Leadership Team
Executive Leadership Team Harsher Singh Kyle Ferguson Chris Preti CEO - Jubilant Radiopharma CEO – Allergy Business CEO - CDMO Giuliano Perfetti Dr. Jaidev Rajpal Dr. Syed Kazmi CEO - CRDMO, Biosys CEO - Jubilant Generics CEO - Jubilant Therapeutics 57
Slide 58: Shareholding Pattern
Shareholding Pattern As on 31st Mar 2024 0.6% 25.9% Promoter and Promoter Group Domestic Institutions 50.7% Foreign Institutions Non - Institutions Employee Benefit Trust 19.1% 3.8% 58
Slide 59: Glossary
GLOSSARY Abbreviation Details Abbreviation Details CVS Cardiovascular System MEA Middle East Africa CNS Central Nervous System LATAM Latin America CDMO Contract Development Manufacturing Organization LOE Loss of exclusivity CRDMO Contract Research & Development Manufacturing Organization FDA (US) U.
Slide 60: For More Information
For More Information For Investors: Pankaj Dhawan Siddharth Rangnekar Jubilant Pharmova Limited CDR India Ph: +91 120 436 1105 Ph: +91 +91 9769919966 E-mail: Pankaj.dhawan@jubl.com E-mail: siddharth@cdr-india.com For Media: Ryan Marshall Gaurav Jain Madison Public Relations Ph: +91 120 436 1026 E-ma
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