Slide 1: Bora Pharmaceuticals Investor Conference
Bora Pharmaceuticals Investor Conference March 2023
Slide 2: Today to Present
Company Introduction 01 Recent Development & 02 Operational Updates 03 Financial Highlights Today to Present 04 FY2023 Strategic Deliverables & Outlook 05 Q&As
Slide 3: Bora – Largest Pharma CDMO in Taiwan with Global Reach
Bora – Largest Pharma CDMO in Taiwan with Global Reach 2007 2017 2020 2022 Bora Pharmaceuticals is Bora’s Initial Public Offering Bora acquires GSK Mississauga Bora acquires TWi assets, adding established as a development (IPO) on the Taipei Stock facility and establishes a North two manufacturing f
Slide 4: Well-structured Portfolio Companies with Dedicated Function
Well-structured Portfolio Companies with Dedicated Function 保瑞集團 Bora Group Bora Bora Bora Bora Bora Biologics TWi Pharmaceuticals 聯邦化學製藥股份 保瑞聯邦股份 Pharmaceuticals Pharmaceutical Pharmaceuticals Pharmaceutical (Zhubei) 有限公司 有限公司 (Tainan Facility) Laboratories USA (USA) Services (Zhunan) (Canada) Glob
Slide 5: Dual-Engine Growth Strategy to “Race to the Top”
Dual-Engine Growth Strategy to “Race to the Top” 保瑞集團 Bora Group Global CDMO Operations Global Commercial Operations • High growth + cashflow positive business • Better profits with blockbuster projects • Inflation + recession proof industry • Direct access to end-market demand Improved efficiency t
Slide 6: Experienced Leadership Team with Proven Track Record
Experienced Leadership Team with Proven Track Record Bobby Sheng Group CEO & Chairman > 25 years of experiences in Simon Chen Alice Wang pharma industry, including M&A, strategy planning and operational R&D VP, Spokesman Group CFO & management Deputy Spokesperson Sally Langa Don Liscombe Tom Chang J
Slide 7: Bora by the Numbers
50+ Billion NTD Market Cap* 1250+ Employees Bora by the 100+ Export Countries Numbers 7 Manufacturing Sites 10 Billion NTD+ FY2022 Revenue 95% Revenues outside of Taiwan *As of Feb 2023 #1 Pharma Manufacturer in Taiwan (by volume) * 7
Slide 8: Recent Developments & Operational Highlights
Recent Developments & Operational Highlights
Slide 9: Best Year Achieved with Annual Revenue over NT$10bn
Best Year Achieved with Annual Revenue over NT$10bn • FY2022 revenue of NT$10,494 million, 2nd consecutive year delivering over 100% growth with dual-engine strategy being successfully executed • Global CDMO Operations continue to be the cornerstone with total revenue of NT$4,788 million ✓ 17 new cu
Slide 10: Transformative Transactions in 2022 – Bora Biologics
2 Transformative Transactions in 2022 – Bora Biologic Value creation by gaining complex technology in the most cost efficient way Biologics and CDMO Pioneer in Asia Meeting Global Quality Standards Developed several Biologics Globally, and other mAbs, Bi-Specifics, Fusion Proteins, etc. Phased and R
Slide 11: Biologic Platform – Making Bora #1 & the Only CDMO Offering Both
Biologic Platform – Making Bora #1 & the Only CDMO Offering Both Small Molecules & Biologics EU QP audit (2021) High Titer Platform starting from Cell Line Development One of the most comprehensive onsite Analytical Labs in the region w/ experience in early protein characterization and meeting innov
Slide 12: Transformative Transactions in 2022 – TWi
2 Transformative Transactions in 2022 – TWi Value creation by adding another strong catalyst to fuel the growth Focus on First-to-market, High- entry-barrier products, and underserved mature molecules Product Selection Sales Research & & Well-connected & reputable Marketing Development Experienced R
Slide 13: Approved ANDAs – Majority are PIVs
Approved ANDAs – Majority are PIVs Product Indication Form Technology Approval Time Launch Time Donepezil hydrochloride (Aricept) Dementia ER tablet Matrix 10/2014 Q1 2015 Guanfacine hydrochloride (INTUNIV) ADHD ER tablet Matrix 06/2015 Q2 2015 Megestrol acetate (Megace ES) Anorexia, Cachexia Oral s
Slide 14: More to Come from Robust R&D Pipeline
More to Come from Robust R&D Pipeline TWi Sales TTL Addressable Market Opportunities* More upside Market Potential > US$22,000mn potentials from Oph Project 1 ~US$2,300mn R&D pipeline Oral Project 1 ~US$530mn Oph Project 2 ~US$420mn Ophthalmic Solution 7 Oph Project 3 ~US$230mn Oral Oph Project 4 ~U
Slide 15: Superior S&M Recognized by Major Channels in the US
Superior S&M Recognized by Major Channels in the US • Accessible to ~90% of the demand in the US through well-connected customers Ranked #1 in the US for New Generic Launches November 2022 “Big 3” GPOs Retailers GPO and Retailers Other Retailers Long-term Care Secondary Wholesalers & Distributors Go
Slide 16: More Synergies to be Realized through Integration
More Synergies to be Realized through Integration Short Term Efficiency ✓ Move products to the most efficient site -> 6 TWi products are under TT study at Zhunan site Improvement ✓ Reduce redundant operating costs -> Centralizing packaging of TWi products in Zhunan Site for Synergies ✓ Remove low ma
Slide 17: Financial Highlights
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Slide 18: Strong Growth Catalysts Continue to Set New Record
Strong Growth Catalysts Continue to Set New Record FY2022 Quarterly Revenue Breakdown and Key Growth Drivers FY2022 = FY2022 = NT$10,494mn NT$10,494mn Global Q3’22 = Commercial NT$5,196mn Sale, 54.3% FY2021 = NT$4,900mn Q2’22 = NT$ 2,472mn Q1’22 = Global NT$1,117mn CDMO, 45.6% 18
Slide 19: … and Drive the Most Remarkable Year
… and Drive the Most Remarkable Year Financial Highlights Key Financials YoY (in NTD millions, except for EPS) FY2021 FY2022 % Consolidation of TWi starts from Sep 1st, 2022 Revenue 4,900 10,494 114% • Licensed-in PAC GM <10% COGS (3,228) (7,582) • AG DLS – royalty + outsourced COGS Gross Profits 1,
Slide 20: Bora Group’s Rapid Growth Backed by Strong Financials
Bora Group’s Rapid Growth Backed by Strong Financials Revenue (NT$’mn) Gross Profits (NT$’mn) 10,494 2,913 1,672 4,900 643 704 1,372 1,529 1,800 445 358 126 2017 2018 2019 2020 2021 2022 2017 2018 2019 2020 2021 2022 Operating Income (NT$’mn) Net Profits (NT$’mn) 1,922 1,402 1,046 750 578 445 305 18
Slide 21: … Driven by both Organic & Inorganic Growth
… Driven by both Organic & Inorganic Growth Inorganic Growth Unit: NT$’mn Inorganic Growth Organic Growth 10,494 Organic Growth 4,900 283 358 1,372 1,529 1,800 218 445 306 578 750 1,402 238 70 150 60 40 2014 2015 2016 2017 2018 2019 2020 2021 2022 US FDA/ EU R&D US FDA/ EU EMA/ JP US S&M EMA/ JP PMD
Slide 22: Creating Substantial Value for All Shareholders
Creating Substantial Value for All Shareholders Unit: NT$’bn 52.8 Market Cap 15.3 10.63 > 5000% 5.6 1.0 3.3 since IPO 2013 2014 2017 2018 2019 2020 2021 Mar-23 US FDA/ EU R&D US FDA/ EU EMA/ JP US S&M EMA/ JP PMDA/ US FDA/ PMDA/ TW PIC/S MHRA Canada Canada certified & cGMP certified Bio- certified c
Slide 23: Strategic Deliverables & Future Outlook
Strategic Deliverables & Future Outlook
Slide 24: Well-defined Strategic Deliverables to Fuel FY2023 Outlook
Well-defined Strategic Deliverables to Fuel FY2023 Outlook Global CDMO Global Commercial Sale Further expand business - 10+ new CDMO customers - 10+ new molecules for global CDMO - 5+ new launches for the US market opportunities by capitalizing - To support existing customers’ expansion - To expand
Slide 25: Bora Group as the Leading Taiwan-based Pharma Company
Bora Group as the Leading Taiwan-based Pharma Company Fueled by Dual-engine Strategy with Global Reach Largest CDMO pharma company in Taiwan with well-established infrastructure Duel-engine growth strategy covering the major fast-growing segments in global pharma industry with competitive edge State
Slide 26: Contributing to Better Health All Over the World
Contributing to Better Health All Over the World