Jubilant Pharmova Limited · NSE:JUBLPHARMA
Jubilant Pharmova — Q4 FY24 Earnings Presentation
75 slides from Jubilant Pharmova's earnings presentation, May 29, 2024
Slide 1: Cover letter to stock exchanges
May 29, 2024 BSE Limited, National Stock Exchange of India Limited, Floor 25, P. J. Towers Exchange Plaza, Bandra-Kurla Complex, Dalal Street, Fort Bandra (E), Mumbai - 400 001 Mumbai - 400051 Scrip Code: 530019 Symbol: JUBLPHARMA Dear Sirs, Sub: Press Release alongwith Earnings Presentation Ref: Re
Slide 2: Jubilant Pharmova Q4'FY24 & FY24 Results Press Release
Jubilant Pharmova Limited 1A, Sector 16A, Noida – 201301, India Tel.: +91 120 4361000 PRESS RELEASE www.jubilantpharmova.com Noida, May 29, 2024 JUBILANT PHARMOVA – Q4’FY24 & FY24 RESULTS Sustaining growth momentum along with EBITDA margin expansion Particulars (Rs. Cr.) Q4’FY23 Q3’FY24 Q4’FY24 Y-o-
Slide 3: Segmental Business Performance
Segmental Business Performance Radiopharma - Leading Radiopharmaceutical manufacturer & 2nd largest Radiopharmacy network in the US Radiopharmaceuticals FY24 revenue grew by 9% to Rs. 952 Cr. and EBITDA grew by 3% to Rs. 477 Cr. The business continues to maintain leadership in high margin SPECT imag
Slide 4: About Jubilant Pharmova Limited
Proprietary Novel Drugs For JBI-802, our lead program, Phase 1 clinical data established safe dosage and showed anti-tumor response in 2 lung cancer patients at the low dose of 10mg without platelet reductions. One patient with Non-small cell lung Cancer, having STK11 mutations showed significant re
Slide 5: 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 6: Chairmen's Message
Chairmen’s Message Dear Fellow Shareholders, We are happy to report that in FY24, we have made significant progress towards our strategic goals and have also delivered improved financial performance to create sustainable shareholder value. Total income grew by 7% to INR 6,772 Cr. on the back of incr
Slide 7: Economic and Industry Outlook
Going forward, as per IMF, the global economy is expected to grow by 3.2% in 2024 and 2025. The positive upsides could stem from structural reforms to bolster productivity, while commodity price spikes from geopolitical shocks including continued attacks in red sea could prolong tight monetary condi
Slide 8: FY24 Financial Performance Review
In Proprietary Novel Drugs business, the most advanced program JBI-802, coREST Inhibitor, phase 1 data suggested therapeutic potential. We shall look to complete phase 2 trial for our lead asset that has a significant value inflection potential. We continue to stay focused on our strategy to strengthe
Slide 9: Earnings Presentation Q4'FY24
Earnings Presentation Q4’FY24
Slide 10: 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 11: 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 12: 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 13: Revenue Split (BU wise)
Revenue Split ( BU wise ) 12% Radiopharma Allergy Immunotherapy 16% 45% CDMO - SI CRDMO 17% Generics 10% 5
Slide 14: 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 15: 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 16: 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 17: Radiopharmaceuticals: US market to reach approx. USD 20 Bn by 2030
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 18: Consolidated market with high entry barriers
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 19: Wide radiopharmaceutical portfolio
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 20: Market leadership in 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 21: 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 22: 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 23: 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 24: Radiopharmacy market growth
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 25: 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 26: 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 27: Volume and new product led growth; network expansion
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 28: 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 143.27 • JPL, Company’s wholly owned subsidiary invested USD
Slide 29: 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 30: Allergy Immunotherapy: Global market
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 31: #2 player in US sub-cutaneous allergy immunotherapy
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 32: 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 33: 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 34: Sustained growth momentum & margin expansion
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 35: CDMO Sterile Injectables: Demand expected to outpace supply
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 36: Key differentiators driving growth
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 37: 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 38: 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 39: 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 40: CRDMO: Drug Discovery Services market growth
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 41: 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 42: End to end CRDMO services
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 43: 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 44: API: Maximize market penetration
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 45: 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 46: Generics: Global market growth
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 47: 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 48: 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 49: 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 50: 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 51: 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 52: 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 53: 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 54: 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 55: 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 56: 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 57: 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 58: Key Ratios
Key Ratios Net Debt / Ebitda is moving in the right direction Particulars ( Rs. Cr. ) Mar 31, 2023 Mar 31, 2024 Gross Debt ( Net of DIC ) 3,410 3,414 • Strong focus on working capital and cash flow management Net Debt ( On constant currency ) 2,426 2,464 Net Debt / Ebitda 2.93 2.48 Exchange Rate : 1
Slide 59: 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 60: 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 61: 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 62: Annexure
Annexure
Slide 63: 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 64: 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 65: 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 66: 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 67: 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 68: 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
Slide 69: Q4 and Full Year FY24 Q&A
Q4 and Full Year FY24 Q&A 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 po
Slide 70: Radiopharmaceuticals Q&A
Radiopharmaceuticals Q1. Can you talk about growth in Ruby-Fill®? Answer: Coronary Artery disease is the most common type heart of disease in the US. Cardiac PET procedures in the US is expected to double over next 5 years. Ruby-fill is a best in class Positron Emission Tomography (PET) radiopharmac
Slide 71: Product pipeline and Radiopharmacy Q&A
Q4. Can you give us some more colour on product pipeline? Answer: We have a very strong pipeline of products in SPECT (Addressable Market at approx. USD 50 Mn) & PET (Addressable Market at approx. 500 Mn.) categories in the medium term. On top of it, in the therapeutic, we are working on MIBG. Q5. C
Slide 72: Allergy Immunotherapy Q&A
balance sum of up to USD 25.8 million is contingent upon achievement of certain future milestones. Allergy Immunotherapy Q9. What are the growth levers in this business? Answer: We have 3 growth levers in place. 1. US Venom: As you are aware that, we are the sole player in this segment in the US, so
Slide 73: CDMO and CRDMO Q&A
Answer: FY24 revenue stood at Rs. 1,117 Cr with EBITDA margins at 17%. Adjusting for Covid related business, revenues grew marginally in FY24 however, EBITDA decreased due to planned extended shut down for maintenance and proactive remediation in FY24. CRDMO – Drug Discovery Q13. Can you talk about
Slide 74: Generics and Proprietary Novel Drugs Q&A
Answer: In the Generics business, we have been able to improve EBITDA considerably on the back of cost optimisation and change in revenue mix towards profitable Non- US international market. While we are confident to reach EBITDA breakeven by Q1’FY26, we are making an effort to reach sooner, by Q4’F
Slide 75: FY25 outlook Q&A
non-cash charge of Rs. 220 Cr. in Q4’FY24 related to impairment of PPE and other intangible assets. Q21. What is the FY25 outlook for revenue, EBITDA and Net Debt? Answer: Over the next year, i.e. FY25, we are looking at 3 financial priorities, which is to continue the revenue growth momentum along