Jubilant Pharmova Limited · NSE:JUBLPHARMA
Jubilant Pharmova — Jubilant Pharma — Non-Deal Roadshow (June 2020)
30 slides from Jubilant Pharmova's roadshow presentation, Jun 11, 2020
Slide 1: Intimation of interaction with Debt Investors (Non-Deal Roadshow)
June 11, 2020 BSE Limited National Stock Exchange of India Limited Floor 25, P. J. Towers Exchange Plaza Dalal Street, Fort Bandra Kurla Complex Mumbai - 400 001 Bandra (E) Mumbai - 400 051 Dear Sirs, Sub: Intimation of interaction with Debt Investors (Non-Deal Roadshow) Jubilant Pharma Limited, a m
Slide 2: Jubilant Pharma Limited Investor Presentation
Jubilant Pharma Limited Investor Presentation June 2020
Slide 3: Disclaimer
Disclaimer This presentation (the “Presentation”, or the “document”) has been prepared by Jubilant Pharma Limited (the “Company” or “JPL”) for the recipient for the purpose of providing information on the Company. The contents of this Presentation are confidential and strictly for use by the recipie
Slide 4: Agenda
Agenda Jubilant Pharma Limited Key Highlights Appendix 2
Slide 5: Jubilant Pharma – A Global Integrated Pharmaceuticals Company
Jubilant Pharma – A Global Integrated Pharmaceuticals Company Business Segments Financial Highlights CAGR (US$m, unless stated) FY18 FY19 FY20 FY18‐20 Jubilant Pharma Revenue from 619 761 803 14% operations Limited (Singapore) (JPL) EBITDA 151 192 211 18% EBITDA margin(1) 24.5% 25.2% 26.2% PAT 49 59
Slide 6: Evolution of Jubilant Pharma
Evolution of Jubilant Pharma Successful acquisition track record, accompanied by strong revenue and profitability growth Revenue Contribution JLL acquired Acquired a majority stake Acquired Draxis Pharma SGX‐listed high Completed FY20 API business – in Cadista Holdings Inc. Inc. in Canada yield bond
Slide 7: Radiopharmaceuticals Business
Radiopharmaceuticals Business Market Size of Industry in North America(1) Radiopharmaceuticals Industry in North America is US$2.4bn, expected to grow at CAGR of 6.2% to reach 3.5 3.0 3.2 2.9 US$3.5bn by 2023 2.6 2.7 2.2 2.3 2.4 Industry 1.9 2.0 Overview(1) Oncology and cardiology diagnosis acco
Slide 8: Radiopharmacy Business
Radiopharmacy Business #2 commercial radiopharmacy network(1) in the US, operated under the Jubilant Radiopharmacy brand Facilities include three operational cyclotrons Multi‐year agreements with GPOs in place Over 50 radiopharmacies spread across 22 states United States ~750 employees c.3m+ d
Slide 9: Allergy Therapy Business
Allergy Therapy Business Allergen Immunotherapy (AIT) Market Size(1) Global AIT market stands at US$1.7bn and is expected to grow at CAGR of 8.9% to reach 2.8 2.6 US$2.8bn by 2022 2.1 2.3 0.5 2.0 0.4 1.8 0.4 Major growth drivers include the increased prevalence of allergic diseases, reduced time
Slide 10: CMO Business – Sterile Injectables and Non-Sterile Products
CMO Business – Sterile Injectables and Non‐Sterile Products Global Pharmaceutical CMO Industry Size(1) 125 134 Injectable market stands at US$5.4bn and is expected to outpace the industry (ex API) by growing at a 109 117 5 7 5 85 92 100 5 75 127 12 Industry 6 64 11 11 CAGR of 4.7% between 2017‐23F
Slide 11: APIs Business
APIs Business Global Market Size : Synthetic API(1) 149 123 131 129 Global Synthetic API market is US$115bn in 2018 and is expected to grow at a 115 Industry 46 62 51 53 CAGR of 6.7% from 2018 to 2022F to reach US$149bn(1) (US$bn) 48 Overview(1) 53% of outsourced API market is generics(1) 67 72
Slide 12: Solid Dosage Formulations Business
Solid Dosage Formulations Business Global Generics Pharmaceuticals Industry Size by Unbranded Generic Global generics pharmaceutical industry stands at Sales(1)(3) US Patent Expiry for Small Molecules(1) US$106bn and is expected to grow at CAGR of 5.0% to reach US$136bn by 2022 c.US$73bn 129 136
Slide 13: High-Quality, World-Class Global Manufacturing Footprint
High‐Quality, World‐Class Global Manufacturing Footprint Kirkland, Montreal, Canada Contract Manufacturing of Sterile Injectables and non‐ sterile products Radiopharmaceuticals USFDA Roorkee, Uttarakhand, India Solid dosage formulations Spokane, Washington, USA Contract manufacturing of Ster
Slide 14: Agenda
Agenda Jubilant Group Overview Jubilant LifeSciences Overview Jubilant Pharma Key Highlights Appendix 12
Slide 15: Jubilant Pharma: Key Highlights
Jubilant Pharma: Key Highlights 1 Leading Market Position Across Business Lines, with High Barriers to Entry for Specialty Pharmaceuticals 2 Diverse Sources of Revenue with a De‐risked Business Model 3 Strong Product Pipeline with Deep R&D Capabilities 4 Global Competitive Edge due to Integrated and
Slide 16: Leading Market Position Across Business Lines, with High Barriers To Entry
1 Leading Market Position Across Business Lines, with High Barriers To Entry For Specialty Pharmaceuticals Specialty Pharmaceuticals Highlights Entry Barriers #3 radiopharmaceuticals manufacturer in the US (1) Extensive regulatory and licensing requirements #2 commercial radiopharmacy network
Slide 17: Diverse Sources of Revenue with a De-risked Business Model
2 Diverse Sources of Revenue with a De‐risked Business Model Jubilant Pharma’s de‐risked business model benefits from its diversified product offerings, product sourcing capabilities as well as a broad customer base with a global manufacturing and distribution footprint Presence across geographi
Slide 18: Strong Product Pipeline with Deep R&D Capabilities
3 Strong Product Pipeline with Deep R&D Capabilities Strong R&D Capabilities… …Resulting in Strong Product Pipeline Patents Granted Current Products and Pipeline Focused on high value niche products with diagnostic and/or therapeutic Capabilities demonstrated by Pharmaceuticals uses Pharmaceutic
Slide 19: Global Competitive Edge due to Integrated and Efficient Manufacturing Operations
4 Global Competitive Edge due to Integrated and Efficient Manufacturing Operations Integrated Operations… Radiopharmacies Provides direct access to hospital networks ‐ ability to deliver c.3m+ patient doses annually to c.1,700 customers(1) Radiopharmaceuticals Radiopharmaceuticals and Allergy Al
Slide 20: Demonstrated Financial Track Record with Strong Revenue Growth
5 Demonstrated Financial Track Record with Strong Revenue Growth… Revenue from Operations Revenue by Segment Revenue from operations increased 20% 19% 20% at a CAGR of14% between FY18‐ Total 619 761 803 FY20 14% 13% 11% 147 160 15% 16% EBITDA increased at a CAGR of 18% 16% (US$m) 123 209 217 7%
Slide 21: …and a robust balance sheet
5 …and a robust balance sheet Total Assets Networth Leverage Consistent reduction in Net Debt to EBITDA ND/ 2.5x 2.2x 1.4x EBITDA 1,076 1,053 430 506 416 441 408 381 408 (US$m) (US$m) (US$m) 303 925 384 FY18 FY19 FY20 FY18 FY19 FY20 FY18 FY19 FY20 Gross Debt Net Debt Cash Flows from Operations(1) Ca
Slide 22: Strong Acquisitions and Integration Capabilities with a Proven Track Record
6 Strong Acquisitions and Integration Capabilities with a Proven Track Record 1 Nanjangud Facility 3 5 • First acquisition in the APIs space – The • Gained a strong foothold in two new • Acquired balance minority stake to Group’s APIs are produced at this facility business lines – Contract manufactu
Slide 23: Highly Qualified, Experienced and Dedicated Board and Management Team
7 Highly Qualified, Experienced and Dedicated Board and Management Team Promoters Independent Directors Shyam S. Bhartia 39 years of experience in the pharmaceuticals and specialty chemicals, food, oil and gas and aerospace Suresh Kumar Has been a Member of Sanofi’s Executive Committee and Chair
Slide 24: Agenda
Agenda Jubilant Pharma Key Highlights Appendix 22
Slide 25: FY20 Highlights
FY20 Highlights 1 Particulars FY19 FY20 % Change Pharmaceuticals revenue at USD 803 Mn, increased 6% YoY led by growth Revenue 761 803 6% in all three revenue segments with 5% growth in Specialty Pharma, 4% Specialty Pharma 405 427 5% growth in CDMO and 9% growth in Generics Radiopharma 353 369 4%
Slide 26: Summary Income Statement
Summary Income Statement (US$m, unless stated) FY18 FY19 FY20 Revenue from Operations 619 761 803 EBITDA 151 192 211 (1) Margin (%) 24.5% 25.2% 26.2% Depreciation, amortization and impairment (56) (40) (48) Result from operating activities (EBIT) 96 152 163 (1) Margin (%) 15.5% 20.0% 20.3% Finance C
Slide 27: Summary Balance Sheet
Summary Balance Sheet As at (US$m, unl es s s ta ted) 31‐Mar‐18 31‐Mar‐19 31‐Mar‐20 Assets Non‐current assets Property, pl a nt a nd equi pment 278 284 275 Goodwi l l 169 165 160 Other a s s ets 200 186 204 Total non‐current assets 647 635 640 Current assets Inventori es 112 124 147 Tra de recei va
Slide 28: Summary Cash Flow Statement
Summary Cash Flow Statement (US$m, unless stated) FY18 FY19 FY20 Operating cash flow before working capital changes 151 190 211 Cash generated from operations 144 169 198 Net cash generated from operating activities 116 128 167 Net cash used in investing activities (67) (94) 7 Net cash used in finan
Slide 29: Abbreviations
Abbreviations AIT Allergen Immunotherapy GPO Group Purchasing Organization ANDA Abbreviated New Drug Application I‐131 Iodine‐131 API Active Pharmaceutical Ingredient IND Investigational New Drug ATP Allergy Therapy Business MAA Macro Aggregates of Albumin Medicines and Healthcare Products Regulator
Slide 30: Thank You
J UBILANT PHARMA Thank You May 2019