Alembic Pharmaceuticals Limited Investor Presentation April 2015 BSE Code: 533573 NSE Code: APLLTD Bloomberg Code: ALPM:IN Reuters Code: ALEM.NS www.alembic-india.com
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.
The Journey so far 1971 1940 1907 Becomes 1 st Indian company to Starts manufacturing cough syrup, manufacture Erythromycin Alembic Ltd. starts manufacturing vitamins, tonics and sculpture drugs tinctures and alcohol at Vadodara 1972 1961 Launched it under brand Penicillin plant inaugurated ‘ ALTHROCIN’ 2001 2007 2004 Starts manufacturing of Acquires Non-Oncology Division R&D facility set up at Vadodara Cephalosporin C of Dabur Pharma - enters high 2006 margin segments such as 2003 Receives USFDA approval for API Cardiology, Diabetes, Gastro and Formulation facility set up for and Formulation facilities Gynaecology Regulated markets 2010 2014 2011 “Azithral” sales crosses INR 1bn Cumulatively filings made for 68 Receives ANVISA approva l ANDAs/NDAs and 72 DMFs Demerger of pharma business from Aggressive ANDA & DMF filings Alembic Ltd. – Alembic 18 Marketing divisions in operation Pharmaceuticals Ltd. Formed for India business
Revenue Overview Q4FY15 % of the total sales 2 2 6 India Branded Formulations International Generics 15 46 API Export India Generics International Branded Formulations 29 API Domestic
Revenue Overview FY 14-15 % of the total sales 3 3 6 India Branded Formulations International Generics 15 API Export 47 India Generics International Branded Formulations 26 API Domestic
R&D Infrastructure State-of-the-art Analytical & IPR infrastructure R&D facility F&D Capabilities Bio Equivalence Centre R&D centre has been Expertise in Drug State-of-the art 90- recognized by DSIR, Deliveries and Niche bedded Bio Centre Govt. of India formulations 100 Pilot studies High-end R&D Well-defined Processes equipment- NMR XRD, and Quality Systems 50 Pivotal Studies TGA, DSC, LCMS Capabilities in Solid Oral World-class and Liquid Oral Products infrastructure
R&D spends to continue rising Total R&D spend 140 139 R&D spend as a % to sales 7.00 7 131 6.74 120 6 5.06 100 4.78 5 Rs. in Crores 4.06 % of sales 77 80 70 4 60 49 3 40 2 20 1 - 0 FY11 FY11 FY12 FY12 FY13 FY13 FY14 FY14 FY15 FY15 • Highly talented pool of 420 research scientists working to address complex genericisation opportunities, novel drug delivery systems and new technology platforms • The Company has filed cumulatively 68 ANDAs/NDA and 72 DMFs with USFDA upto year ended 31 st March 2015
State of the Art Manufacturing Facilities Formulations Located at Panelav, Gujarat USFDA, MCC, MHRA, ANVISA & TPD approved – for Generic exports Capacity - 7 bn tablets / capsules p.a. Located at Baddi, Himachal Pradesh WHO GMP approved Manufactures branded formulations and caters to domestic market Capacity 2 bn tablets / capsules p.a, 0.15 bn bottles p.a. APIs Located at Panelav and Karkhadi, Gujarat USFDA, EDQM, TGA, WHO approved
Formulations business accounts for ~80% of revenues
Branded business continues to grow
Strong domestic market presence 1.77% market share (Ranked 19 th ) in Indian formulations market as per IMS MAT data 2 brands featured among Sustained dominance in top 100 and 5 among top anti-infective, analgesics, 300 brands in India as cough and cold segments per IMS MAT data Key Highlights Robust growth in Cardiology, Diabetes, Diversified basket of 170 GI, Gynaecology, brands Dermatology, Orthopedic and Respiratory Ranked 17 th in doctors’ prescription universe
Continued shift towards Specialty therapies Therapy Dominance 100 90 % of Domestic Formulations 80 44 46 51 54 58 70 60 50 40 30 56 54 49 46 42 20 10 0 FY11 FY12 FY13 FY14 FY15 Specialty Acute
Therapy-wise Performance Q4 MAR QTR 2015 MAR QTR 2014 Therapy Market Alembic Alembic Therapy Market Alembic Alembic Therapy Growth Share Growth Growth Growth Share Growth Growth (ORG) (ORG) (ORG) (PRIM) (ORG) (ORG) (ORG) (PRIM) Cardiology 14 1.92 37 29 9 1.60 21 37 Anti Diabetic 18 1.55 36 31 20 1.34 22 27 Gynaecology 12 2.59 35 23 10 2.15 14 33 Gastrology 16 2.43 15 18 12 2.45 6 15 Dermatological 18 0.52 52 51 20 0.40 71 56 Orthopaedic 15 1.00 3 15 11 1.11 8 27 Ophthalmology 18 1.33 -10 -18 13 1.74 27 23 Anti Infective 17 3.65 10 1 3 3.90 -7 1 Cold & Cough 18 5.30 33 38 10 4.72 3 8 OVERALL 16 1.83 22 17 11 1.74 6 13 ( Source : ORG March 2015 )
Therapy-wise Performance FY 14-15 MAR MAT 2015 MAR MAT 2014 Therapy Market Alembic Alembic Therapy Market Alembic Alembic Therapy Growth Share Growth Growth Growth Share Growth Growth (ORG) (ORG) (ORG) (PRIM) (ORG) (ORG) (ORG) (PRIM) Cardiology 11 1.77 29 31 12 1.51 27 37 Anti Diabetic 18 1.46 29 27 23 1.33 24 30 Gynaecology 12 2.33 27 28 9 2.05 23 33 Gastrology 14 2.45 11 17 10 2.50 10 15 Dermatological 19 0.44 42 52 20 0.37 200 190 Orthopaedic 12 1.05 4 13 9 1.12 9 20 Ophthalmology 20 1.45 0 -12 11 1.75 41 34 Anti Infective 10 3.61 4 4 1 3.84 -6 -3 Cold & Cough 11 5.38 22 20 13 4.90 9 15 OVERALL 13 1.77 15 15 10 1.74 8 13 ( Source : ORG March 2015 )
Marketing Divisions - Specialty Corazon Cardio-Diabetes Summit Specia Ouron Urology Alcare Gynecology Zenovi Elena Enteron Specialty Gastroenterology Gastron Dermatology Corium Orthopedics Osteofit Ophthalmology Eyecare High end Respiratory Respiratory
Marketing Divisions Megacare Veterinary Anti-infective Acute and Cold & Pharma Animal Healthcare Cough Poultry Maxis
Key Therapies & Brands Therapeutic Segment-wise Break-up (Q4FY15) • Launched 1 product SKU in the domestic market in Q4FY15, 29 product SKUs in FY 2014-15. % of total domestic formulation revenue Brand Name Therapeutic Area Ranking Azithral Anti-infective 33 Althrocin Anti-infective 67 Wikoryl Respiratory 157 Anti Infectives 4 2 2 1 Roxid Anti-infective 166 Gastrology 6 Cough & Cold Gestofit Gynecology 269 29 Cardiology 11 Gynecology • 5% market share in the cough and cold segment Anti Diabetic • 5000+ marketing team Orthopedics 14 Nephrology/Urology 17 Dermatology 14 Ophthalmology ( Source : ORG March 2015 )
Branded Export business in investment phase Products filed in key markets (South East Asia, CIS and East Africa) Focus on Rest of the Expected to be of critical World markets mass in 3 years Key Highlights
International Generics will be the growth driver
Fast emerging player in international generics All Facilities approved for supply to regulated markets such as the US, Europe, Australia and Brazil Partnership with leading generic players in the Launching its own front- US, Europe, Canada, end marketing in the US Australia Key Highlights 37 ANDAs/NDAs approved (4 tentative) ANDAs vertically integrated to DMFs 31 ANDAs pending approval Exit from low margin products and contract manufacturing, reallocating liberated capacity addressing regulated markets
API business accounts for ~20% of revenues
Focus on Regulated Markets 30% of capacity being used for captive consumption More than 85% Capacity of sales are to Key expansion is in regulated Highlights progress markets / customers 72 DMFs filed
Financial Snapshot
Focus on shareholder value creation CAGR 85,699 100,000 Revenue 16% 80,000 EBITDA 27% 53,738 In INR mn 60,000 PAT 31% 19,793 40,000 Market Capitalization 108% 20,000 20,677 - 18,684 20,000 Market Capitalization 15,260 FY13 FY14 FY15 15,000 In INR mn 10,000 4,061 3,577 2,829 5,000 2,520 2,355 1,652 - Revenue EBITDA PAT FY13 FY14 FY15
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