Alembic Pharmaceuticals Ltd

Transcription

1 Pharmaceuticals Ltd Investor Presentation January-2018

2 Contents 1. Milestones 2. Quarterly Highlights 3. Nine Months Highlights 4. Business - International - India 5. Strategy 6. Financials - Annual

3 Safe Harbor Statement Materials and information provided during this presentation may contain forward-looking statements. These statements are based on current expectations, forecasts and assumptions that are subject to risks and uncertainties which could cause actual outcomes and results to differ materially from these statements. Risks and uncertainties include general industry and market conditions and general domestic and international economic conditions such as interest rate and currency exchange fluctuations. Risks and uncertainties particularly apply with respect to product-related forward-looking statements. Product risks and uncertainties include, but are not limited, to technological advances and patents attained by competitors, challenges inherent in new product development including completion of clinical trials; claims and concerns about product safety and efficacy; obtaining regulatory approvals; domestic and foreign healthcare reforms; trend towards managed care and healthcare cost containment and governmental laws and regulations affecting domestic and foreign operations. Also, for products that are approved, there are manufacturing and marketing risks and uncertainties, which include, but are not limited, to inability to build production capacity to meet demand, unavailability of raw materials and failure to gain market acceptance.

4 Milestones Established by Amin family FDA approves API facility Acquired Dabur s Indian Cardiology, GI and Gynaecology brands 2008 FDA approves Formulation facility Pharmaceuticals business demerged from APL listed. Rhizen JV for NCE research Launched first NDA with a partner Commenced filing in EU, Australia and Brazil Mami JV in Algeria Launched Aripiprazole on day-1. Established US front-end: transition to direct marketing Aleor JV with Orbicular 2017 Acquisition of Orit Laboratories LLC, USA

5 Highlights Q3FY18 Financial Highlights India Formulations Gr% Particular (Rs bn) Q3FY17 Q3FY18 Gr% Rs 3.07bn Rs 3.49bn 14% Net Sales % EBITDA Pre R&D % 55% 54% Specialty 10% Margin % 34% 33% R&D % Acute 16% R&D % 16% 12% EBITDA Post R&D % 36% 36% Margin % 19% 22% Net Profit % 9% 10% Q3FY17 Q3FY18 Vet 23% International Generics Gr% API Business Rs 3.03bn Rs 3.11bn 3% Rs 1.67bn Rs 1.80bn 75% 76% US 4% ANDA Filings : 4 Approvals: 1 8% 2 DMF applications filed 25% 24% Non US -2% Q3FY17 Q3FY18 Aleor JV Filings : 1 Q3FY17 Q3FY18

6 Highlights 9MFY18 Financial Highlights India Formulations Gr% Particular (Rs bn) 9MFY17 9MFY18 Gr% Rs 9.70bn Rs 9.70bn Net Sales % Specialty -1% EBITDA Pre R&D % 58% 57% Margin % 33% 33% R&D % Acute 1% R&D % 13% 13% EBITDA Post R&D % 33% 33% Margin % 20% 21% Net Profit % 9% 10% 9MFY17 9MFY18 Vet 6% International Generics Gr% API Business Rs 9.64bn Rs 8.54bn -11% Rs 4.59bn -1% Rs 4.53bn 74% 74% US -11% ANDA Filings : 13 Approvals: 11 9 DMF applications filed 26% 26% Non US -11% 9MFY17 9MFY18 Aleor JV Filings : 1 9MFY17 9MFY18

7 Highlights FY17 Financial Highlights India Formulations Gr% Particular (Rs bn) FY16 FY17 Gr% Rs 11.76bn Rs 12.55bn 7% Net Sales % Specialty 13% EBITDA Pre R&D % 54% 58% Margin % 42% 33% R&D % Acute -4% R&D % 10% 14% EBITDA Post R&D % 37% 33% Margin % 32% 20% Net Profit % 9% 9% FY16 FY17 Vet 16% International Generics Rs 14.61bn Rs 12.36bn Gr% -15% API Business 22% Rs 6.40bn 84% 74% US -25% ANDA Filings :20 Approvals: 4 Rs 5.25bn 7 DMF applications filed 16% 26% Non US 37% FY16 FY17 FY16 FY17

8 Business Key Numbers (Rs bn) Capex 4.8 HQ, Vadodara R&D: Formulation: Vadodara and Hyderabad API: Biocentre: 1.3 Vadodara and Hyderabad (Peptides) Vadodara 150 beds FY15 FY16 FY17 Sales EBITDA R&D Total 800 R&D employees strength Branded, Mumbai India Ex-India Manufacturing: Generics, Vadodara International Generics API Formulation: Oral Solids, Panelav (Mar16)* Oncology OSD, Panelav Derma JV, Karkhadi API: Oncology Injectables, Panelav (H1FY19) General Injectables, Karkhadi (H1FY19) New Oral Solids, Jarod (H2FY19) Sikkim, India market Panelav (Jun16)*, Karkhadi (Apr15)* * Last inspection

9 International Generics Sales (Rs bn) 14.6 CAGR 42% 12.4 ANDA Filed Filings: 119 Approval: 70* * Incl 9 tentative FY13 FY14 FY15 FY16 FY17 FY13 FY14 FY15 FY16 FY17 R&D Spend (Rs bn) Milestones and Update Acquired US based Orit Laboratories LLC 7 Approved ANDAs and 4 ANDAs Pending approval R&D% 3.2 US front-end in place, 38 products already launched (including relaunches) new products launch and 1 relaunch in USA in 9MFY new launches planned in FY19 FY13 FY14 FY15 FY16 FY17 Ex-US driven by partnerships

10 India Formulations Sales (Rs bn) CAGR 9% Marketing Organisation marketing team 17 marketing divisions 170 products, 15% of products in NLEM FY13 FY14 FY15 FY16 FY17 Split CAGR% Key Achievements % of Domestic Formulations FY13 FY14 FY15 FY16 FY17 6% 21% Successful key new launches Tellzy, Rekool, Gestofit, Ovigyn D, Rosave, Richar Last 5 year new launches cover 2% of market share and contribute 19% of sales. 90% new launches in specialty 5 brands in top 300 Azithral, Althrocin, Wikoryl, Gestofit, Roxid Specialty Acute

11 -wise Performance Q3FY18 Q3 FY 2018 Q3 FY 2017 Market Share (PRIM) Market Share (PRIM) Cardiology Anti Diabetic Gynaecology Gastrology Dermatological Orthopaedic Ophthalmology Nephro / Uro Anti Infective Cold & Cough (Source : ORG DEC 2017)

12 -wise Performance 9MFY18 9M FY M FY 2017 Market Share (PRIM) Market Share (PRIM) Cardiology Anti Diabetic Gynaecology Gastrology Dermatological Orthopaedic Ophthalmology Nephro / Uro Anti Infective Cold & Cough (Source : ORG DEC 2017)

13 -wise Performance MAT DEC 17 MAT DEC 2017 MAT DEC 2016 Market Share Market Share Cardiology Anti Diabetic Gynaecology Gastrology Dermatological Orthopaedic Ophthalmology Nephro / Uro Anti Infective Cold & Cough (Source : ORG DEC 2017)

14 Strategy R&D Pipeline drivers Dosage Form FY14 FY18 Oral Solids Injectables Oncology Dermatology Opthalmology Inhalation Biologics NCEs R&D: US: India: Rapidly expand breadth and quality of pipeline Doubled internal OSD grid. injectable, dermatology ophthalmology and oncology. Expanded grid 5 fold Partnerships to gain time Build manufacturing capacities rapidly, use CMOs > 80% of R&D spend towards US market On ground presence. Focus on quality and supply chain Emphasis on specialty segment Market share in identified therapy-important molecules Enablers Pipeline Skills People: Renewed focus on HR Talent acquisition and retention High Mix of high-risk and low-risk projects. Process: Simple, clear structures Clear goals and empowerment Focus on compliance De-risk with systems Close monitoring Low Low High Building skill sets organically and inorganically. Risk

15 Financials 5 years Sales Rs 15.3bn Rs 31.3bn CAGR% 20% Sales (Rs bn) CAGR 20% 23% 20% API 16% % 40% India 9% % 40% International 42% FY13 FY17 FY13 FY14 FY15 FY16 FY17 EBITDA (Rs bn) 32% Net Profit (Rs bn) 23% 17% 19% 19% Margins% % 11% Margins% 13% 14% % FY13 FY14 FY15 FY16 FY17 FY13 FY14 FY15 FY16 FY17

16 Latest Shareholding Pattern % of Total Shareholding Promoter & Promoter group FI/FII/MF 73 Public Market capitalisation (Rs bn) CAGR 38% Total paid-up share capital Total number of shares O/S mn mn No. of shareholders >50 K FY13 FY14 FY15 FY16 FY17 9MFY18

17 THANK YOU