Glenmark Pharmaceuticals Limited · NSE:GLENMARK
Glenmark Pharmaceuticals — Q1 FY24 Earnings Presentation
20 slides from Glenmark Pharmaceuticals's earnings presentation, Aug 11, 2023
Slide 1: Glenmark Pharmaceuticals Ltd. Investor Presentation: Q1 FY24
Presentation Heading or Sub Heading Glenmark Pharmaceuticals Ltd. Investor Presentation: Q1 FY24 11 August 2023
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Glenmark Pharmaceuticals Ltd. The information, statements and analysis made in this presentation describing Company’s or its affiliates’ objectives, projections and estimates are forward looking statements. These statements are based on current expec
Slide 3: Glenmark's vision has guided its journey over the last two decades
Glenmark’s vision has guided its journey over the last two decades Glenmark Group, today Leading Integrated Research-led Global Consolidated revenues in FY23: End-to-end R&D capabilities: API, Initiated NME research in 2002; Global diversified formulations ₹ 129,901 mn generic formulations (conventi
Slide 4: Strategic restructuring for sharper focus on our three businesses
Strategic restructuring for sharper focus on our three businesses Separate board Independent Global presence of directors management team & operations Primarily focused on building a global formulation business with branded, generics, and OTC segments in therapy areas of Dermatology, Respiratory and
Slide 5: Committed to Sustainability across all our operations globally
Committed to Sustainability across all our operations globally Environmental Social Governance Become carbon neutral by 2030* 16 global safety programs by 2023 Maintain an ethical business culture to Achieve water neutral operations by Aspire to impact 3 million lives by 2025 drive robust governance
Slide 6: Q1 FY24 Snapshot
Q1 FY24 Snapshot Revenues from Operations at Rs. 34,016 Mn with a growth of 22.5% YoY EBITDA of Rs. 6,312 Mn with EBITDA margin of 18.6% “We had yet another strong quarter both in terms of revenue and operating margins. The robust growth in sales was led by our branded markets in RoW Consolida
Slide 7: Consolidated Revenues from Operations – Q1 FY24
Consolidated Revenues from Operations – Q1 FY24 First Quarter ended June 30 Fourth Quarter ended March 31 YoY Growth QoQ Growth Rs Mn FY 2023-24 FY 2022-23 FY 2022-23 (%) (%) India 10,643 10,352 2.8% 8,284 28.5% North America 8,085 6,628 22.0% 8,507 -5.0% Europe 5,732 3,300 73.7% 6,078 -5.7% Rest of
Slide 8: Revenue Distribution by Key Geographies
Revenue Distribution by Key Geographies 12% 0% 11% 1% 11% 1% 25% 31% 15% 37% 16% 20% Q1 FY23 Q4 FY23 Q1 FY24 12% 25% 17% 18% 24% 24% India Europe API North America ROW Other Revenue 8
Slide 9: P&L Highlights
P&L Highlights Rs. Mn Q1 FY24 Q1 FY23 % YoY Q4 FY23 % QoQ Revenues from Operations 34,016 27,773 22.5% 33,737 0.8% EBITDA 6,312 4,316 46.2% 6,050 4.3% EBITDA margin (%) 18.6% 15.5% 17.9% Other Income (exp) 209 1,832 (402) Exceptional gain (loss)2 (520) -- (7,997) Profit Before Tax (PBT) 3,334 4,081
Slide 10: India
Q1 FY24 31% India 47% contribution from Continuous Chronic therapeutic outperformance segments compared to industry Revenue (INR Mn) YoY: 2.8% 10,643 10,352 Key Highlights Glenmark’s India business grew by 13.1% compared to the overall industry growth of 10.3%1 9 brands in the IPM Top 300 Brands
Slide 11: North America
Q1 FY24 North America 24% YoY Growth of 22% Filed 2 ANDAs in Q1 FY24 Revenue (INR Mn) YoY: 22% 8,085 6,628 Key Highlights Launched Clindamycin Hydrochloride Capsules USP, which was approved in the previous quarter Plans to file 2-3 applications in the forthcoming quarter and a total of 10-12 AND
Slide 12: Europe
Q1 FY24 Europe 17% High double digit growth Continued strong uptake in Western Europe in the Respiratory markets portfolio Revenue (INR Mn) YoY: 73.7% 5,732 Key Highlights Growth was driven by an uptick in the base business as well as new product launches 3,300 during the quarter The UK recorded
Slide 13: ROW (Asia, MEA, Russia+CIS, LATAM regions)
Q1 FY24 16% ROW (Asia, MEA, Russia+CIS, LATAM regions) Respiratory remains key Strong growth across all contributor to sales sub-regions across regions Revenue (INR Mn) YoY: 30.4% Key Highlights 5,512 Russia+CIS 4,226 Glenmark Russia business recorded growth of 33.8% and 17.1% respectively in valu
Slide 14: API business - Glenmark Life Sciences
11% Q1 FY24 API business - Glenmark Life Sciences Consolidated sales CDMO revenues almost (including captive sales) doubled with 91.3% YoY growth of 18% YoY Revenue – External Sales (INR Mn) YoY: 16% 3,769 3,251 Key Highlights External sales in Q1 FY24 were at Rs. 3,769 Mn recording a growth of 16
Slide 15: Respiratory Strategy – Creating Global Scale
Respiratory Strategy – Creating Global Scale As of Q1 FY24, marketing applications for Ryaltris® have been submitted in more than 70 countries, the product has been commercialized in 29 markets Menarini, Glenmark’s partner in the EU, intends to launch the product in additional EU markets in FY24
Slide 16: Innovative R&D Pipeline
Innovative R&D Pipeline Currently being developed as an orally administered immunotherapeutic agent for patients with solid tumors; demonstrated substantial anti-tumor effects in pre-clinical studies when administered alone, which is further enhanced when administered in combination with currently
Slide 17: Ichnos Sciences is a Clinical-Stage Biotechnology Company at the Forefront of Innovation in Oncology
Ichnos Sciences is a Clinical-Stage Biotechnology Company at the Forefront of Innovation in Oncology Global footprint: the U.S. and Switzerland Fully Integrated Fully owned by Glenmark, with plans to expand the investor base in the future Biotech Accomplished management team with proven track
Slide 18: Ichnos is Advancing a Differentiated Pipeline with Potential First – and Best-in-Class Assets
Ichnos is Advancing a Differentiated Pipeline with Potential First – and Best-in-Class Assets Ichnos Oncology Pipeline - First Wave Focuses on T-Cell Ichnos to Out-License Assets in Autoimmune (AI) Disease Engagers and Macrophage Modulators Molecule Molecule Potential Phase/Status Lead Indication Me
Slide 19: Key Objectives of Financial Year 2024
Key Objectives of Financial Year 2024 1 Consolidated revenue growth: 10-11% 2 Consolidated R&D investment: 8-8.5% of total sales 3 Consolidated EBITDA margin: 19-20%+ 4 Consolidated Capex: INR 6-7 Bn 5 Priority to enhance free cash generation for further debt reduction 6 Close at least 1 out-licensi
Slide 20: Thank You
Thank You https://glenmarkpharma.com/
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