Slide 1: Cover letter to stock exchanges
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 November 15, 2022 To, To, The Secretary The Secretary BSE Limited National Stock Exchange of India Limited Department of Corporate Services Corpo
Slide 2: Q2 FY23 Investor Presentation
Q2 FY23 Investor Presentation November 2022 Classified as Public B I O C O N L I M I T E D 1
Slide 3: Safe Harbor Statement
Safe Harbor Statement Certain statements in this release concerning our future growth prospects are forward-looking statements, which are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those contemplated in such forward-looking s
Slide 4: Biocon is a global biopharmaceutical enterprise led by a purpose
Biocon is a global biopharmaceutical enterprise that is led by a purpose to develop innovative solutions that provide affordable access to high quality, essential and life saving medicines for patients, payers and health systems across the world. Classified as Public B I O C O N L I M I T E D 3
Slide 5: The Biocon Manifesto
The Biocon Manifesto accessibility affordability • Use our science, scale and • Focus on the kind of expertise to enhance access innovation that adds the to essential drugs for condition of affordability to patients on the lowest rung accessibility of the economic ladder As a committed stakeholder o
Slide 6: The Biocon Value Creation Journey
The Biocon Value Creation Journey 1978- 2000- 2005- 2010- 2016- 2019 & 1999 2004 2009 2015 2018 Beyond An Transforming Building the Base Strategic Global Commercialized Poised for Enzymes into a Business and Alliance with Mylan Biosimilars for Global Impact Company Biopharma Expertise in for Biosimi
Slide 7: Biocon Today: Strategically poised for a strong global play
Biocon Today: Strategically poised for a strong global play Rs. 8,397 Cr | $1.1bn ~15,000 Revenue* Total Employees* ~1,300 50+ Patents* cGMP approvals from International regulatory agencies 120+ Ranked 5 Countries where Among Top 10 Global our products are Biotech Employers by available Science maga
Slide 8: Achievements
TransformAction : Transforming Sustainability at Biocon through Action PATIENT PEOPLE SOCIAL ENVIRONMENT STAKEHOLDER o 5.3M patients reached o Top 5 among global pharma & o Published Human Rights o 58% electricity came o Board Committees, policies through biosimilars biotech employer since 2012 Poli
Slide 9: Business Segments
Business Segments Classified as Public B I O C O N L I M I T E D 88
Slide 10: Growth Verticals: Aligned With Shifting Paradigms
Growth Verticals: Aligned With Shifting Paradigms From pipeline to production, from drug discovery to drug delivery, we bring differentiated, high-quality and affordable healthcare products & services globally. Ensuring Expanding Pushing Partnering to access through access through scientific deliver
Slide 11: Generics: API – the building blocks
Generics : API – the building blocks BUSINESS OVERVIEW GROWTH DRIVERS ACROSS S T R AT E G I C P R I O R I T I E S Among world’s largest manufacturers of statin & immunosuppressant APIs; leadership in Fermentation • Expanding beyond • Expanding based APIs fermentation-based APIs in select (e.g. pepti
Slide 12: Generics: Forward integrating to Generic Formulations
Generics : Forward integrating to Generic Formulations BUSINESS OVERVIEW GROWTH DRIVERS ACROSS S T R AT E G I C P R I O R I T I E S Leveraging in-house API expertise to forward integrate • Expanding portfolio through and move up the value chain - Vertical integration & - In-licensing strategy Portfo
Slide 13: Generics: Q2 FY23 update
Generics: Q2 FY23 update KEY HIGHLIGHTS Q2 FY23 Q2 FY22 Strong YoY growth both in API & generic formulations Revenue ₹623Cr ₹530Cr +18% Sitagliptin and Vildagliptin API launches in EU Generic Formulations - Approvals in EU & MoW markets to aid geographical expansion Profit Before Tax (PBT) ₹54Cr ₹50
Slide 14: Biosimilars: Overview
Biosimilars : Overview Leadership in biologics R&D, manufacturing and 8 2 3 25+ commercialization built over two decades Approved Research & Manufacturing sites cGMP approvals Products1 Development sites (2 Bengaluru, 1 Malaysia) (incl. FDA & EMA) Driven by high scientific acumen with analytical and
Slide 15: Biosimilar strategy resulted in several 'firsts'
Biosimilar strategy resulted in several ‘firsts’ Achieved many firsts in the space despite the nascent biosimilars regulatory pathway, setting new benchmarks for the industry 2004 2017 2018 2021 1st company to 1st company to 1st company to 1st company to receive commercialize human receive approval
Slide 16: Growing participation in global biosimilars market
Growing participation in global biosimilars market PA R T N E R BBL ROLE BBL ECONOMICS Biosimilars co-developed and co-commercialized with R&D and manufacturing led by BBL (2009) Acquisition* of Viatris’ biosimilar business to build a fully- integrated global biosimilar enterprise Set of next-gen bi
Slide 17: Acquisition of Viatris' biosimilars business
Acquisition of Viatris’ biosimilars business to add financial depth and global commercial capabilities… 1 Revenue EBITDA BBL to realize full revenue and profits Financial $1.1b | $250m from all its collaboration programs Viatris Biosimilars CY23 estimate1 2 Commercialization, Supply Chain and Operat
Slide 18: Biosimilar Value Chain
…transforming into a fully-integrated global biosimilars business POST ACQUISITION OF VIATRIS’ BIOSIMILARS CURRENT BUSINESS Emerging Markets Developed Markets Global Markets PRODUCT DEVELOPMENT ✓ ✓ ✓ ✓ ✓ ✓ Biosimilar Value Chain CLINICAL TRIALS R E G U L AT O R Y ✓ ✓ M AN U FAC T U R I N G ✓ ✓ ✓ S
Slide 19: Funding the acquisition of Viatris' biosimilar business
Funding the acquisition of Viatris’ biosimilar business Acquisition of Viatris’ biosimilar business expected to close shortly BBL has secured $1.2 bn in debt, balance amount to be funded through equity infusion. EQUITY INFUSION IN BBL SILS $150m Biocon Ltd $650m On closing of the Viatris and Serum t
Slide 20: Entering adjacencies in communicable disease: antibodies and vaccines
Entering adjacencies in communicable disease: infectious disease antibodies and vaccines Key Commercial Products (COVID -19) Recent Collaborations 50,000+ lives impacted Continued portfolio expansion Classified as Public B I O C O N L I M I T E D 19
Slide 21: Asset-light entry into vaccines through SILS alliance
Asset-light entry into vaccines through SILS alliance BBL RIGHTS 1 Access to 100m doses of vaccines annually for ~15 years 2 Commercialization rights of the SILS portfolio for global markets 3 BBL to have committed revenue stream and related margins from H2 FY23 Alliance to commercialize SILS COVID
Slide 22: Comprehensive portfolio of biosimilars and vaccines
Comprehensive portfolio of 20 biosimilars and vaccines… B I O S I M I L A R P R O D U C T S TAT U S Therapeutic Molecule Area US Dev. Markets: ex-US MoW4 Commentary Pegfilgrastim1 Europe, CANZ - bBevacizumab: Approved in EU, Canada 1 Trastuzumab Europe, CANZ and Australia; US approval awaiting site
Slide 23: Set up to deliver sustainable growth trajectory
…set up to deliver sustainable growth trajectory BIOCON BIOLOGICS GROWTH DRIVERS Today < 2 years 2-4 years >4 years - Pegfilgrastim - Bevacizumab (US) - Aflibercept2 - Pertuzumab - Trastuzumab - Aspart (US) - Ustekinumab - Glargine 300 IU - Bevacizumab (EU) - Adalimumab (US) - Denosumab - Seven undi
Slide 24: Biosimilars: Q2 FY23 Update
Biosimilars: Q2 FY23 Update KEY HIGHLIGHTS Q2 FY23 Q2 FY22 Year-on-year revenue growth of 34%, reflecting the growth of insulin Revenue Glargine in US ₹997 Cr ₹743 Cr +34% Core EBITDA margin benefitted from rupee depreciation and accrual of Performance Linked Incentives (PLI) benefits Core EBITDA* P
Slide 25: Biocon Biologics offers differentiated value proposition
Biocon Biologics offers differentiated value proposition through its state-of-the-art platform 1 Fully integrated global biosimilars company (lab to market) 2 Strong commercial presence in global markets 3 Comprehensive portfolio of insulins, mAbs and vaccines 4 Global scale biologics manufacturing
Slide 26: Novel Molecules: Pushing scientific boundaries
Novel Molecules: Pushing scientific boundaries to deliver impactful innovations Disease Area Asset Current Progress Graft-Versus-Host Disease (GVHD) • Pivotal Phase III Study initiated in Mar ’22 for use in First-Line treatment of Acute GVHD; patient dosing initiated • European Commission granted an
Slide 27: Novels: Q2 FY23 Update
Novels : Q2 FY23 Update KEY HIGHLIGHTS Itolizumab: Equillium announced encouraging interim data from EQUALISE study in Lupus Nephritis Application to conduct Phase II Clinical Trial with Itolizumab for Ulcerative Colitis approved by DCGI Bicara# : Continued progress in BCA 101 **Acute Graft-Versus-H
Slide 28: Research Services (Syngene): Overview
Research Services (Syngene) : Overview Offering integrated research, development & manufacturing services for small & large molecules, antibody-drug conjugates & oligonucleotides backed by best-in-class bioinformatic services World-class R&D and manufacturing infrastructure spread over 2 million squ
Slide 29: Research Services: Q2 FY23 Update
Research Services: Q2 FY23 Update KEY HIGHLIGHTS Q2 FY23 Q2 FY22 Positive performance across all divisions Revenue from operations ₹768 Cr ₹610 Cr +26% Sustained growth in research divisions - Discovery Services, including Synvent#, and the Dedicated Centres Growth in Development Services led by exi
Slide 30: Financial Highlights
Financial Highlights Classified as Public B I O C O N L I M I T E D 29 29
Slide 31: Financial Highlights: Q2 FY23 (1/2)
Financial Highlights: Q2 FY23 (1/2) Q2 FY23 Q2 FY22 Revenue +23% ₹2,384 Cr ₹1,945 Cr Biosimilars +34% | Research +26% | Generics +18% Adjusted for: Core EBITDA* +34% ₹816 Cr ₹609 Cr Dilution gain in Bicara of ₹33 Cr in Q2 FY23 MTM gain on investments ₹55 Cr Q2 FY22 % margin 35% 33% Gross R&D spend a
Slide 32: Financial Highlights: Q2 FY23 (2/2)
Financial Highlights: Q2 FY23 (2/2) Exceptional items during Q2 FY23: Net Profit ₹168 Cr ₹188 Cr (before exceptional charge) MAT credit balance charge of ₹107 Cr on adoption of new tax regime of 25%. This move helps Biocon reduce tax outflow and P&L charge on a go-forward basis. Exceptional Items ₹1
Slide 33: Financial Highlights: FY22
Financial Highlights: FY22 FY22 FY21 Biosimilars +24% | Research Services +19% | Generics -1% Revenue +14% ₹8,397 Cr ₹7,398 Cr Dilution Gain in Associates of ₹30 Cr vs ₹160 Cr in FY21 Core EBITDA* +18% ₹2,669 Cr ₹2,270 Cr Mark-to-market loss on investments of ₹28 Cr; Forex Gain of ₹58 Cr vs loss of