Bora Pharmaceuticals Co Ltd · TWSE:6472
Bora Pharmaceuticals — Q1 2022 Earnings Presentation
47 slides from Bora Pharmaceuticals's earnings presentation, May 18, 2022
Slide 1: Bora Pharmaceuticals Investor Conference
Bora Pharmaceuticals Investor Conference May. 18th .2022 股票代號：6472
Slide 2: Table of Contents
Company Introduction Company fact sheet, leadership team, milestones 01 Operation Highlights 02 CDMO operation: facilities, CDMO services Commercial operation 03 Financial Results Finansial results, successful M&A model Table of Contents 04 Bora Biologics acquired Eden CDMO assets Investor Conferenc
Slide 3: Bora by the numbers
350 Million USD Market Cap 800+ Employees Bora by the 3 Manufacturing Sites 100+ Export Countries numbers 1.2B+ Annual Units Produced 98% On-Time Delivery 3 Completed M&A in 5 years
Slide 4: Bora's Companies Portfolio
Bora’s Companies Portfolio 保瑞集團 Bora Group Bora Pharmaceuticals Bora Pharmaceutical Bora Pharmaceuticals Bora Pharmaceutical 聯邦化學製藥股份 保瑞聯邦股份 (Tainan Facility) Laboratories(Zhunan) USA (USA) Services (Canada) 有限公司 有限公司 Global CDMO Operations Commercial Operations
Slide 5: Bora Sustainability Program
保瑞永續願景計畫 Bora Sustainability Program
Slide 6: Bora ESG Strategy
Bora ESG Strategy永續願景計畫 公司治理與誠信經營 當責誠信 人才培育與員工關懷 人才培育 幸福職場 • 病患關懷：CNS疾病認知推廣＆病友服務 Bora’s Mission • 社會參與：圓心願愛傳遞 健康社會 Contributing to Better Health All Over the World • 運動活動推廣：馬拉松活動推廣參與、 公益參與 為全人類創造更健康的生活 環境保護淨灘活動 因應企業永續經營所帶來的挑戰與機會， 整合各方利害關係人關注之議題，保瑞將 持續開發新劑型、新技術平台 責任製造 展開「永續經營(ESG)計畫」，成立企業 研發創新 永續發展委員
Slide 7: Carbon Neutral Carbon Disclosure Transition Plan
保瑞碳排目標設定 西元 2050 年達成淨零碳排，或預計西元 2030 減少碳排放 7 %、預計西元 2035 減少碳排放30 % 碳揭露 碳中和 Carbon Disclosure Carbon Neutral 溫室氣體盤查與減碳計畫 TRANSITION PLAN ISO 14064-1 溫室氣體盤查 執行減碳與能源轉換計畫 評估是否導入碳足跡 溫室氣體盤查 系統導入 與ISO50001能源管理系統 短期 中期 長期 2050零碳排目標 註：減量目標係針對「類別1與類別2」訂定，範圍包括竹南、台南與加拿大。
Slide 8: Operational Highlight
Operational Highlight
Slide 9: CDMO Services
CDMO SERVICES 9
Slide 10: Global Distributor
Global Distributor Bora currently supplies over 100 countries around the world including all the major markets. 10
Slide 11: CDMO Services
CDMO Services Quality Dedication to strict quality standards standards, reliability, and Mississauga USFDA/MHRA Facility 183,000 Sq. Meters customer service has allowed Bora to become a reliable CMO Customer and CDMO partner for many Reliability service multinational companies Zhunan USFDA/MHRA Faci
Slide 12: Global Partnership: 4 New Clients in Q1
Global Partnership 4 New Clients in Q1
Slide 13: New Partnership with Evofem
New Partnership with Evofem Evofem is Leading a New Era in Women’s Contraception Targeting a Multi-Billion Dollar Market Opportunity Significant Market Opportunity The First and Only Hormone-Free, On-Demand Prescription Contraceptive Vaginal Gel
Slide 14: Continued Growth in New Markets
Continued Growth in New Markets Partners with Bright Future in the Greater China market 與香港澳美製藥簽訂中國大陸及港澳市 Rytary/Numient 場經銷合約，佈局大中華區市場。 KCl won bid into retailer Walgreens & Walmart. 進入美國大型連鎖通路Walgreens， KCl /CONST-K 為美國處方數排名第37之藥品。
Slide 15: Continued support for Canadian Government
Continued support for Canadian Government 獲加拿大安大略省指標性投資 保瑞啟動CDMO產線擴展計畫
Slide 16: Commercial Operation
Commercial Operation
Slide 17: 保瑞聯邦 發展規劃
保瑞聯邦 發展規劃 2022.05.31 併入保瑞西藥部門 將保瑞西藥事業部門分割併入保瑞聯邦， 整合集團旗下藥品及保健品事業通路，建 立統一銷售事業品牌形象並創造更高效益。 2022.12登錄興櫃立足資本市場 預計2022.09公開發行並於2022.12興 櫃，透過保瑞在國際市場的品牌知名度 保健品代理經銷 與代工平台優勢，保瑞聯邦將以一致品 牌，在全球市場打造經銷代理事業體系， 創造價值並提升整體股東權益。 整合聯邦化學成為旗下子公司 使保瑞聯邦持有聯邦化學製藥(股)公司100%股權， 建立快速符合市場需求之自有/經銷藥品能力。
Slide 18: Bora Health Partners Around the Globe
Bora Health Partners Around the Globe 18
Slide 19: KCL/CONST-K and Rytary/Numient
兩項新藥在半年內完成全台近六成醫學中心進藥 KCL/CONST-K Rytary/Numient Indication: Hypokalemia Indication: Parkinson Disease Const-K received drug pricing approval by Numient received drug pricing approval by Taiwan National Health Insurance Taiwan National Health Insurance 2021Q4取得台灣健保藥價給付 2021 取得台灣健保藥價給付 In TFDA essent
Slide 20: Numient 國外授權進度
Numient 國外授權進度 已上市 (1) 台灣 已簽約 (1) 中國香港澳門 洽談中 (7) 日本韓國泰國新加坡等 Bora獲得授權的國家 (共11)
Slide 21: Commercial Operation: OTC & 保健產品
Commercial Operation: OTC&保健產品 A. 增強免疫抗疫產品熱銷 1. 博世特綜合複方草本與維他命成份的保健發泡錠，自有品牌，行銷台灣11年，提升健康及保護力。 2. 咳朗止咳系列是這次疫情的重點產品，幫助病患在止咳的緩解。 Ｂ.專注通路客戶運營拓展 藥局簽約進度第一季已經完成獨立藥局500家簽約，藥師第一推薦「愛斯飛特」。
Slide 22: Financial Results
Contributing to Better Health All
Slide 23: Consolidated Financial Statement
Consolidated Financial Statement $NTD Million 22 Q1 / 21Q4 2021 2021 Q4 2022 Q1 Year Variation Amount % Amount % Amount % % Revenue 4,900 100% 1,150 100% 1,117 100% -3% Gross Profit 1,672 34% 375 33% 389 35% +4% Operating Expense 626 13% 189 16% 138 12% -27% Net Operating 1,046 21% 186 16% 252 23% +
Slide 24: Revenue
Revenue Units: NTD 10 Mio 億 6.00 $5.44 5.00 4.48 4.42 4.27 4.14 4.25 4.00 3.95 4.05 4.08 3.64 3.66 3.78 3.38 3.00 3.57 2.00 1.46 1.49 1.53 1.33 1.21 1.24 1.30 1.32 1.18 1.08 1.18 1.00 0.00 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2020 2021 Excluded One Time 2022
Slide 25: Financial Performance
Financial Performance 5000 4900 4500 4000 3500 3000 Revenue 2500 2000 1500 1372 1529 1800 Gross Profit 1000 1672 358 500 126 19 445 445 643 704 15 187 344 1046 0 305 226 578 1117 750 Net Operating Income 2017 389 2018 252 179 2019 2020 Net Profit 2021 2022Q1
Slide 26: Financial Performance: Bora Dividends
Financial Performance 7 6 Bora Dividends 6 5 5 4.5 4.5 4 3 2 1 0.8 1 0.5 0 2016 2017 2018 2019 2020 2021 2022 2022 Payout A POWERFUL VALUE-CREATING Cash Dividends NT$ 3.5 BUSINESS MODEL Stock Dividends NT$ 1
Slide 27: Annual Revenue Growth
Annual Revenue Growth Inorganic Growth Unit: NT$ 100M 60 49 Organic Growth 50 Inorganic 40 Growth 30 Organic Growth 17.9 15.29 20 13.72 10 3.58 6.84 2.18 2.38 2.83 5.41 2.64 2.94 3.94 2.24 2.24 2.33 0 2014 2015 2016 2017 2018 2019 2020 2021 Share Capital Revenue
Slide 28: 保瑞生技合併案
保瑞生技合併案
Slide 29: 保瑞收購藥廠里程碑
保瑞收購藥廠里程碑 年度 收購藥廠標的 收購金額 規模與效益 工廠面積：7,350坪 2013 衛采台南廠 3.9億 效益：代工衛采在臺與15國外銷藥品 藥證：185張藥證及銷售通路 2014 聯邦製藥 4億 效益：處分土地價值收益 工廠面積：11,287坪 2018 美國Impax旗下益邦製藥 5.5億 效益：代工Impax、 輝瑞藥廠產品 工廠面積：56,123坪 2020 葛蘭素史克GSK加拿大廠 8.3億 效益：代工GSK高達88國外銷藥品 效益：佈局大分子治療領域，伊甸生醫 2022 伊甸生醫 約15億 既有客戶MSA代工協議
Slide 30: CDMO產業概況
CDMO產業概況 Ø 全球CDMO成長率CAGR為 7.7%，較全球藥品市場的 CAGR 3.7% 成 長率高(2019~2024) Ø 全球CDMO前三大區域：北美(46.2%)、亞太地區(21.6%)、 歐洲(20.5%) Ø 全球生物藥品CDMO成長率CAGR為11% ，較全球CDMO成長率高 (2020~2024) Ø 全球CDMO前三大區域：北美(38.9%)、歐洲(29.5%)、亞太地區(20.6%) Ø 2020年全球生物藥品CDMO市場規模約達113.8億美元，預計2024年 全球生物藥品CDMO市場規模將成長至172.5億美元 The information and mate
Slide 31: Eden Acquisition Highlights
Eden Acquisition Highlights • CDMO Service provider offering integrated Full-range CMC Services & Expertise • 110+employees with 75+% having a Master or Ph.D, and also 35+% with international experience • Experienced in Cell Line Development through Phase 3 MAB • Located in the Biomedical Science Pa
Slide 32: Combining the Strength of both Companies
Combining the Strength of both Companies • Trusted Reputable CDMO in North America • Development to Production capabilities • Large International client base • Well maintained and top of the line equipment • Largest Taiwan CDMO exporter • Own prorietary cell line • US marketing and sales team • Broa
Slide 33: Asset Purchase Agreement: Include / Exclude
交易優先選項:營業資產讓與 Asset Purchase Agreement Seller: EDEN BIOLOGICS, INC., TAIWAN Purchase Price: $50,000,000 USD Transaction scope: CDMO Business Include - Plant, Equipment, Leasehold property Highlights - Proprietary Cell Line - CDMO Business IP - All Current Eden Employees - Two Biosimilar product for
Slide 34: 伊甸生醫產品開發組合
伊甸生醫產品開發組合 開發藥品 EB1001 EB1016 EB1003 EB1007 EB1006 靶點 RANKL VEGF CTLA-4 PD-1 PD-1 (Target receptor) 轉移性黑色素瘤 老年性黃斑部病變 BRAF V600突變 非小細胞肺癌 (Age-related 晚期黑色素瘤 適應症(Indication) 骨質疏鬆症 轉移性黑色素瘤 (Melanoma, Non- macular (Melanoma) (Osteoporosis) (Melanoma) Small Cell Lung degeneration) Cancer) 專利到期 US: 2025 U
Slide 35: Full Analytical Capabilities
Full Analytical Capabilities
Slide 36: Clinical and Commercial Manufacturing plant
Clinical and Commercial Manufacturing plant
Slide 37: Bora Scientific Advisory Board
Bora Scientific Advisory Board Peter T. Bigelow John Patrick Ward Allen Chao, PhD Colin Minchom, PhD Tiffany Rau, PhD Former President and CEO Former VP at Thermo Founder of Tanvex Former VP at Patheon Owner and Principal at Patheon Fisher Scientific and BioPharma and Watson Pharmaceutical Consultan
Slide 38: Talents
Talents A Education Function Bachelor Master Ph.D. Total Clinical Dev & RA 1 1 3 5 CEO office 3 1 4 Finance 2 4 6 IHR 2 2 IT 1 1 2 MFG 2 18 1 21 Process Development 4 24 10 38) Quality 9 10 3 22 [Total 24 59 17 100) BATE HNADT EK
Slide 39: Commercial Right in Taiwan: EB1001, EB1016
Commercial Right in Taiwan (2 products) EB1001 EB1016 Ø 是一種用於治療女性 Ø 適用於治療血管新生型 停經後骨質疏鬆症的 (溼性) 年齡相關性黃斑 處方藥 部退化病變 Ø Sales( in 2018): 735 Ø Sales( in 2018): 830 MM(NTD) MM(NTD) Ø Patent off: USA Ø Patent off: USA (2023), (2025), EU(2025) EU(2025)
Slide 40: Turn Assets Into Profitable Businesses
Bora’s Strategic Plan • Bora sees an opportunity in the ”Quick to Clinical” Biologics CMDO for Bora Biologics • The Zhubei operations will become the base for Bora’s Biologics small/mid scale CDMO • Put in the CMDO business systems, culture, and organizational structure to operate as a PURE and prof
Slide 41: Future Outlook
bell Contributing to Better Health All bora Over the World
Slide 42: 全方位國際委託研發暨生產服務 CDMO Services
全方位國際委託研發暨生產服務CDMO Services 委 託 開 發 (CDO) 配方設計 產品檢驗 試製放大 查驗登記 商品開發 1.新成分劑型 1.委託檢驗 1.製程參數 開發 2.委託檢驗 建立 1.查登資料建立 2.新劑型開發 方法開發 2.製程最佳化 2.國際法規諮詢 整合大分子與小分子，Bora 提供客戶一站式 CDMO國際委託研發暨生產服務 高品質 商品上市 特殊劑型 量產放大 藥品包裝 生產 1. US FDA 1.製程參數 1. 長效釋放 1.序列化包裝 2. EMA 變更與建立 2. 多單位釋放 2.自動化包裝 3. PMDA 2.製程最佳化 委 託 製 造 (CMO)
Slide 43: Bora's Future Development
More Sites/Dosage Global Team Forms Bora’s Future Development Large Molecule For internal use only. All proposals will be subject to appropriate consultation, where applicable, with employees and employee representative bodies.
Slide 44: Bora's Two-Pronged Growth Strategy
Bora’s Two-Pronged Growth Strategy Organic Growth • High Focus on new business with continued investment Marketing and Sales. • Build strong pipeline of development project. • Invest in new technologies to increase commercial scale efficiency. • Invest in new production lines and formulations to inc
Slide 45: Future Outlook
CDMO 國際委託研發暨生產服務 • Increase in forecast from our customers 未來展望2022 產品訂單持續成長 • Continue to increase NEW customers Future Outlook 北美業務開發團隊積極拓展 • Integrate CDMO assets into Bora Biologics 整合拓展保瑞生技大分子CDMO • Continue to find M&A opportunities 持續評估併購標的 • Invest in R&D and product development 投入新產品線及研發 •
Slide 46: Bora's Dedication to Become Global
Bora’s Dedication to Become Global Capture Global Markets • Strategic M&A within US, EU, and Continuous Expansion Asia • Launch New • Increase International Products and CDMO partners Dosage Form Stable Profitability • Pharmaceutical • Expand Pharma CDMO and CHC products • Pharmaceutical/ Health Pro
Slide 47: Contributing to Better Health All Over the World
Contributing to Better Health All Over the World