Biocon Limited · NSE:BIOCON
Biocon — Investor Presentation (May 2025)
36 slides from Biocon's investor presentation, May 12, 2025
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/TG/2025-26/27 May 12, 2025 To To The Manager, The Manager, BSE Limited National Stock Exchange of India Limited Department of Corporate
Slide 2: Corporate Presentation Biocon Limited May 2025
Corporate Presentation Biocon Limited May 2025 The Multiplier Effect MAXIMIZING VALUE The Multiplier Effect MAXIMIZING VALUE
Slide 3: Safe Harbor Statement
Safe Harbor Statement This presentation has been prepared by Biocon Limited (the “Company”). It is not the intention to provide, and you may not rely on this presentation as providing, a complete or comprehensive analysis of the Company’s business, financial condition, results of operations, trading
Slide 4: Agenda
Agenda 1 Executive Summary 4 2 Biocon Business Segment Profile 9 3 Financial Performance 23 The Multiplier Effect MAXIMIZING VALUE 3
Slide 5: Biocon Group – One of the Leading Global Biopharmaceutical Companies
Biocon Group – One of the Leading Global Biopharmaceutical Companies Improving patients' lives by delivering affordable healthcare products and differentiated services 46+ Global reach in Market cap of 80+ 14 of Top 20 1,700+ 9 year legacy 120+ USD 4.7 bn2 cGMP Pharma companies Patents1 Manufacturin
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 Patient Focus on Access for Comprehensive, globally s
Slide 7: Biocon Group: At an Inflection Point, With Growth Levers in Place Across Businesses
Biocon Group: At an Inflection Point, With Growth Levers in Place Across Businesses All business segments are uniquely positioned… …Ensuring secular growth drivers 5 new biosimilars launches in the near-term Biosimilars Generics Research Services Peptides (GLP-1) represent near-term and long-term op
Slide 8: Global Footprint With Strong R&D, Manufacturing and Commercial Capabilities
Global Footprint With Strong R&D, Manufacturing and Commercial Capabilities 9 Manufacturing Locations, 5 R&D Facilities, 18 Offices Biocon Biologics Biocon Johor Malaysia Vishakhapatnam Insulins manufacturing HPAPIs, Fermentation APIs Hyderabad Peptides and Synthetic APIs Canada Belgium
Slide 9: Agenda
Agenda 1 Executive Summary 4 2 Biocon Business Segment Profile 9 3 Financial Performance 23 The Multiplier Effect MAXIMIZING VALUE 8
Slide 10: Biosimilars – Business is at an Inflection Point in Its Journey
A Biosimilars – Business is at an Inflection Point in It’s Journey Viatris’ global biosimilars business added complementary capabilities including a commercial front end Vertically integrated operations with front end commercialization capability… …With tangible levers of growth going forward • One
Slide 11: Biosimilars – Well Positioned in a Fast-Growing Segment of the Pharma Market
A Biosimilars – Well Positioned in a Fast-Growing Segment of the Pharma Market Growing global pharmaceutical market with biologics representing an increasing share and growing ~4x of small molecules Global Pharmaceutical Market Size1 (USD bn) Top global therapeutic areas (TAs) by projected global sp
Slide 12: Biosimilars – Overview of the Global Pharmaceutical Market
A 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 13: Biosimilars – Robust portfolio of 20 products
A Biosimilars – Robust portfolio of 20 products Addressing a market opportunity of USD 130 bn+1 Approved Late Stage Early Stage Pegfilgrastim Denosumab Oncology Trastuzumab 2 undisclosed 2 Pertuzumab Bevacizumab R&D sites Adalimumab Immunology Etanercept 3 undisclosed Ustekinumab Glargine U100 Glarg
Slide 14: Biosimilars – Strong Global Commercial Presence
A Biosimilars – Strong Global Commercial Presence Strong commercial presence and established …leading to significant market shares network of robust partnerships... across the globe Advanced US Markets Q4 CY2023 Q4 CY2024 Market share2 30% 26% 16% 21 16 300+ 12% 11% 11%3 self-led partnered employees
Slide 15: Generics – Focused Strategy With Clearly Identified Growth Drivers in Place
B Generics – Focused Strategy With Clearly Identified Growth Drivers in Place Generics Peptides (GLP-1) to be the key …Aided via global manufacturing …and strong commercialization driver of growth…. capabilities… engine • Near term and long term opportunity in • Capacity addition and expansion plans
Slide 16: Generics – Peptides (GLP-1) Represent Near-Term and Long-Term Opportunity
B Generics – Peptides (GLP-1) Represent Near-Term and Long-Term Opportunity 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 Peptides pharmaceutical market1 CAGR = 21
Slide 17: Generics – Complex API and Generic Formulations Player
B Generics – Complex API and Generic Formulations Player Vertically integrated, globally scaled enterprise with end-to-end capabilities Diverse Portfolio of Generic Formulations expanding to GLP-1s First generic company globally to obtain approval for a generic GLP-1 medicine in a major regulated
Slide 18: Syngene – One of the Leading CRDMO Player With Differentiated Capabilities
C Syngene – One of the Leading CRDMO Player With Differentiated Capabilities Differentiated Characteristics And Capabilities… … Establishes Growth Path Expertise across Leveraging integrated services from drug discovery to Team of 5,600+ scientists including pharmaceuticals, biotech, commercial scal
Slide 19: Syngene – Well Positioned in the Highly Attractive CRDMO Market
C Syngene – Well Positioned in the Highly Attractive CRDMO Market Market Trends Supportive of Long-term Industry Growth CRDMO Market Size1 Key Market Trends Supportive of Long-term Growth USDbn 230 Drug pipeline growing at a healthy 8% CAGR 8% 40 9% 155 Outsourcing Acceleration: Big pharma increasin
Slide 20: Twin Engine Growth Strategy – With Broad Capabilities Spanning the Value Chain
C Twin Engine Growth Strategy – With Broad Capabilities Spanning the Value Chain Research Services (CRO) Development and Manufacturing Services (CDMO) Discovery Services Dedicated R&D Centers Clinical Development Development Services Manufacturing Services Flexible Platform with Ring-fenced infr
Slide 21: Syngene – One-stop CRDMO Service Platform
C Syngene – One-stop CRDMO Service Platform Offering clients integrated services from drug discovery to commercial scale manufacturing Multi functional infrastructure facilities with footprint in the US to meet client needs HQ campus at Bengaluru, Biologics Facility at India Biologics facilities Ful
Slide 22: Biocon – Key Growth Drivers
Biocon – Key Growth Drivers Commentary • 5 products to be launched1 of which 2 have received approvals Biosimilars - Multiple new product launches in near term • Insulin market dynamics present long term growth opportunity • One of the first generic companies globally to obtain approval for a Generi
Slide 23: Agenda
Agenda 1 Executive Summary 4 2 Biocon Business Segment Profile 9 3 Financial Performance 23 The Multiplier Effect MAXIMIZING VALUE 22
Slide 24: Biocon Group - Robust Financial Performance
Biocon Group - Robust Financial Performance Revenue from operations1 EBITDA2 % yoy % margin 37% 32% 3% 25% 27% 27% growth 1,746 1,806 USD mn USD mn 4935 518 1,322 23% 23% 342 28% 58% 58% 48% 24% 19% 19% FY23 FY24 FY25 FY23 FY24 FY25 Generics Biosimilars Research Steady growth across all 3 verticals
Slide 25: Significant R&D Investments to Drive Next Phase of Growth
Significant R&D Investments to Drive Next Phase of Growth R&D Performance Highlights – FY25 Gross R&D Investments Biocon Biocon Biologics USD mn Product 94% 99% 100% Launches 13 66 141 137 Products in the Generic pipeline 38 APIs 48 Formulations 10 102 c. 97% of gross R&D investments expensed to P&L
Slide 26: Biocon Group – Debt Position
Biocon Group – Debt Position Gross Debt Over the Years USD mn (1) Short Term Borrowings/ CPs 50% 44% 46% 408 19% 2,103 2,101 (2) (4) OCDs 190 9% USD 2,101 mn Term Loans 1,863 1,256 (3) 60% NCDs 247 12% FY23 FY24 FY25 Debt-Equity Ratio FY25 highlights Gross Debt Position USD Bond 800 mn (Mar’25)
Slide 27: Appendix
Appendix The Multiplier Effect MAXIMIZING VALUE
Slide 28: Biocon Ownership Organization Structure – Key Subsidiaries
Biocon Ownership Organization Structure – Key Subsidiaries Shareholding (Mar 31, 2025) Biocon Limited Consolidated Market Cap 1: USD 4,680 mn 18% Promoter Revenue 2 (FY25): USD 1,806 mn 61% Institutions 21% EBITDA (FY25): USD 518 mn Others Total Debt (Mar 31, 2025): USD 2,101 mn Cash 3 (Mar 31, 2025
Slide 29: Biocon - Senior Management and Board of Directors
Biocon - Senior Management and Board of Directors Senior Leadership Team Board of Directors 5/9 Independent Board Kiran Mazumdar-Shaw Members Executive Chairperson Biocon Limited & Biocon Biologics Limited Kiran Mazumdar Shaw Siddharth Mittal Ravi Mazumdar 3/9 Executive Chairperson Biocon Limited &
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 66
Slide 31: 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 46+ 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 to bui
Slide 32: Generics – Key APIs and Formulations Portfolio
Generics – Key APIs and Formulations Portfolio Formulations Launched Approved APIs* Dev Therapeutic Area Molecule Therapeutic Area Molecule Therapeutic Area Molecule US Markets: MoW1 ex-US Tacrolimus Rosuvastatin Calcium UK, EU2 Apixaban Simvastatin Mycophenolate Mofetil Atorvastatin Atorvastatin My
Slide 33: Syngene – Snapshot of Key Metrics
Syngene – Snapshot of Key Metrics USD 431 mn 400+ FY25 Revenue from operations active clients USD 56 mn1 14 out of top 20 pharma FY25 PAT companies are clients2 8,235 headcount including 400+ 5,600+ talented scientists Patents held with clients 92% Infrastructure ~2.5 Mn sq. ft of world-class R&D an
Slide 34: 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 35: 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 Part of Emerging Markets Index & The Sustainability Yearbook 2025 under Top 5% S&P Global CSA Sustainability Indexes Score CDP
Slide 36: Biocon Group – EBITDA to PAT Bridge
Biocon Group – EBITDA to PAT Bridge USD mn FY23 FY24 FY25 EBITDA 342 493 518 Less: Interest & finance charges 50 115 106 Less: Depreciation & Amortization 132 186 200 Share of loss in JV/Associate, net 20 10 - PBT before exceptional item 141 182 212 Add: Exceptional Items, net1 (34) (1) 11 PBT 106 1