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1 Cadila Healthcare Ltd Investor Presentation May 2007.

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Presentation on theme: "1 Cadila Healthcare Ltd Investor Presentation May 2007."— Presentation transcript:

1 1 Cadila Healthcare Ltd Investor Presentation May 2007

2 2 Zydus Cadila- One of India’s leading integrated pharma companies  Ranked 5th in the domestic formulations market. (as per ORG IMS MAT Feb-07).  Formulations exports grew by ~69% in last three years and by 91% in FY 06-07, on the back of rapid growth in developed / semi regulated generics markets of US, France and Brazil.  Focusing on Research & Development – spending 6-7% of the revenues on R&D every year.  FY % Gr FY % Gr Consol. Revenues $ 410 mn 25% $ 329 mn 19% Consol. PAT $ 52 mn 53% $ 34 mn 46% Market Capitalisation of ~ $ 970 mn.

3 3 Core Business Areas and their Revenue Break-up Revenue break-up by segment Revenue break-up by region Break-up of Revenue (FY )

4 4 State of the art facilities and infrastructure  Formulations – four manufacturing plants  Moraiya (Gujarat) Largest integrated facility in Asia; facilities for producing almost all types of dosage forms Approved by US FDA, MHRA, ANVISA, AFSSAPS, BFAD & MCC  Baddi (Himachal Pradesh) – for catering to domestic market  Goa – for catering to both domestic and non regulated markets  One more facility at Sikkim for domestic market on the verge of completion  Amongst few in India to make lyophilised products, vaccines, aerosols, hormones and cytotoxic products,  Only producer of transderamal patches and suppositories in India  APIs and Fine Chemicals – four plants  Ankleshwar & Dabhasa (Gujarat) – US FDA approved multi purpose plants  Patalganga (Maharashtra) – multi purpose with GMP certification  Fully dedicated fine chemicals facility at Ahmedabad (Gujarat)  Contract Manufacturing  Mumbai (Zydus Altana JV) – dedicated facility for pantoprazole intermediates  Goa – dedicated facility for manufacturing Agiolax for Madaus AG  Two more facilities under construction near Ahmedabad (Gujarat) – Cytotoxic production facility for Zydus Mayne JV Cytotoxic facility for NDDS product for Zydus BSV JV

5 5 Overall strategy  Continued focus on domestic market  Grow rapidly in key global generics markets- US, Europe & Latin America  Leverage strengths through contract manufacturing opportunities  Focus on innovation- R&D

6 6 Domestic market strategy Maintain overall position and market share through :  Focus on faster growing chronic/ lifestyle segments  Continued new product introductions  In-licensing arrangements- Schering AG, Boehringer Ingelheim, Meda Pharma etc.  Marketing excellence Portfolio shift to life style and chronic segments

7 7 Achievements in domestic market Zydus Cadila ranks 5th with Rs ~9.6bn sales. (Source : ORG IMS MAT Feb-07) 17 Zydus brands feature amongst the top 300 brands. (as per ORG IMS MAT Feb-07) Recently launched ‘Novolizer’, a third- generation refillable, breath actuated multiple dose dry powder inhaler device for Asthma and COPD, which is 1 st of its kind. The technology for the device has been provided by Meda Pharma of Sweden. In all, launched 39 new products in FY 06-07, of which 8 were 1 st in India. Run-rate of new products’ launch to continue for next 2-3 years. With recent acquisition of Liva Healthcare, we entered Rs. 15 bn dermatology market. Cardiovascular Gastrointestinal Female Healthcare Respiratory Zydus Rank * * Segment ranking and Market Share refer to participated market. Source:ORG-IMS MAT Feb 07 Therapeutic Area

8 8 Prioritized Generics Markets Princeton, NJ Brazil Paris South Africa Uganda Sudan Algeria Dubai Yemen Sri Lanka Myanmar Thailand Vietnam Philippines Taiwan Russia Ukraine Latvia Lithuania Mauritius Singapore Kenya Ethiopia Venezuela USA EU LATAM CIS ASIA HQ: Ahmedabad AFRICA Japan

9 9 International business- two fold focus Developed generics markets US- the largest generic market in the world Zydus Pharmaceuticals USA Inc. Europe- Zydus France SAS Planning to enter Spain & Italy Japan- Zydus Pharmaceuticals Inc. (Japan) Recently acquired Nippon Universal Pharmaceuticals Ltd. Emerging markets CIS - Russia, Ukraine Asia Pacific- Sri Lanka, Vietnam, Myanmar Africa, Middle East Brazil, South America Formulations-emerging markets Formulations- developed markets APIs/intermediates- exports US$ 134 mn 2010E US$ 370 mn International sales projection

10 10 US – marketing plan and achievements so far  ANDAs filed - half for matured products. Include 6 blockbusters and 2 NDDS.  Half the products envisage own API.  Plan to file ANDAs every year for next 2-3 years Robust regulatory pipeline  Marketing and distribution through Mallinckrodt, which is 7th largest generic player in US.  Also doing direct marketing to select customers through own US subsidiary.  Launched 9 products so far (incl. Day 1 launches of Meloxicam & Simvastatin). Plan to launch 8-10 products every year.  Response has been excellent with initial market share > 10% in 8 out of 9 products.  With sales > $ 31 Mio. (FY 06-07), Zydus is now rated a top tier generics company among peers in US.

11 11 Launch of generics  Launched over 90 generic presentations so far.  Plan to boost the basket with over100 generic presentations by end 2007 Complete focus on Pure Generics  Direct business with pharmacies  Attained ~1.92% share in the participated generics market, within 3 years of start of generics biz. (IMS MAT Dec-06) Relationship with pharmacists  Building special relationship with pharmacists  Supporting a health awareness program for the Zydus club of pharmacists Leveraging India’s lower cost Generics to drive our French business France – key initiatives so far

12 12 Emerging Global Markets Brazil  Pharma market size of ~US$7 bn., growing at ~18% (Source : ESPICOM)  Filed 19 pure & branded generics product dossiers  Received 11 generic product approvals, and all have been launched.  Plan to file for and launch 8-10 products every year South Africa  Branded generics- commenced operations  Marketing and distribution partner finalized  Filed 34 submissions, received 10 product approvals so far  Launched 8 products so far, plan to launch 6-8 products every year Continuous Growth Momentum  Presence in over 26 semi / non regulated emerging markets.  Amongst the top three Indian pharma companies in Sri Lanka, Myanmar, Philippines, Uganda and Sudan.  Focusing and developing base in rapidly growing markets of Brazil, Russia and South Africa.  Exports to these markets grew by ~33% in last three years and crossed Rs. 1 bn mark in FY

13 13 Zydus is uniquely positioned on Contract Mfg. Front :  World class state of the art manufacturing facilities.  Dedicated dossier filing and IPR team, enabling rapidity in site transfer projects and competency in development projects.  Zydus’ experience with global partners -  Cost efficient and high quality products and services  Working with several US and European multinationals  Operational transparency with these partners  Dedicated project management teams Contract manufacturing - exciting prospects

14 14  Altana JV - benchmark in contract manufacturing.  State of the art manufacturing facility set up as an EOU near Mumbai.  Supplying 2 key starting materials of Pantoprazole to its worldwide patent holder, Altana AG, Germany.  60% of global requirements are met from this plant.  Recently increased capacity by 20% from 48 tons to 60 tons.  Mayne Pharma (Australia) - JV for oncology injectibles (Generics).  Setting up cytotoxic facility located in an SEZ near Ahmedabad.  Construction of the plant completed.  Commercial production expected in FY  Full capacity utilisation in FY  23 other contracts with big innovator and generic MNCs signed so far with peak revenue potential of US$ 34 Mio.  Few more contracts in pipeline. Contract manufacturing - achievements so far

15 NME & Drug Discovery Generics / Developmental API & Others Research Focus Zydus Research Centre (ZRC) Located in Ahmedabad Focused on NME Research & NDDS Pharmaceutical Technology Centre (PTC) Located in Ahmedabad Focused on Finished Dosage Form Development & NDDS API Process Research Located in Ankleshwar/Ahmedabad Focused on Process Development Revenue R&D Spends – FY Scientific Talent Pool ~ % 10% 21% Rs. 1,345 Mio. (~ $ 30 Mio.) (~7% of revenues) NME & Drug Discovery Generics / Developmental API & Others

16 16 Zydus Research Center - investing for the future NME Research, Biologicals (Biogenerics) & NDDS. Therapeutic Area: Diabetes, Dyslipidemia, Obesity, Inflammation. Infrastructure for target identification to pre-clinical research / early clinical development. Lead lipid lowering drug candidate ZYH1 in Phase II clinical trials. ZYI1, the Anti-inflammatory & Pain Management compound, completed Phase I trials, while ZYH2, the novel agent for treating diabetes will start Phase I clinical trials soon. Recently filed 4 th IND - ZYO1, a novel drug candidate for treating Obesity and related disorders. Multiple candidates under preclinical stage. NME IND Filing Phase 1 Phase 2 Phase 3 ZYH1 Dyslipidemia ZYH2 ZY01 Diabetes Obesity ZYI1 Inflammation Pre Clinical NME Pipeline

17 17 PTC – New Product Development Team Product Development team of 250 scientists Infrastructure: –Development labs –Pilot Plant –Analytical Support –Stability studies –Pharmacokinetics In-house Regulatory, IPR & Packaging development Group PTC : Scientific Team Formulations Development Analytical Development Pharmacokinetics & Project Mgmt. Regulatory Affairs IPR Packaging Development

18 18  Opened up a new subsidiary in Japan - "Zydus Pharma Inc., Japan" to kick start Japanese operations. The subsidiary will market APIs and formulations in Japanese market, and start product registration process in  Recently acquired Nippon Universal Pharmaceuticals Ltd., which has got countrywide reach to more than 4000 hospital and clinics in Japan, which will give us critical access to a ready manufacturing and marketing base as well as a strong distribution network.  Acquired controlling stake in Liva Healthcare Ltd., a mid sized Indian pharma company with a derma focused product portfolio. With this, we entered hitherto unexplored Rs. 15 bn dermacare market, which is 7 th largest therapeutic segment in Indian pharma market, and has grown at CAGR of 14% over last three years. (Source : ORG IMS)  Set up a JV with M/s Bharat Serum and Vaccines Ltd., one of the top 10 biotech companies in India, to develop, manufacture and market a non-infringing and proprietary Novel Drug Delivery System (NDDS) of an approved anti-cancer product for global markets.  Acquired ~ 62% stake in Carnation Nutra-Analogue Foods Ltd., the manufacturers of “Nutralite”, India’s largest selling margarine, currently enjoying a market share close to 60%, which is free from cholesterol and is healthier substitute for butter. This will complement our “Sugar Free”, which is brand leader in life style segment. Other Recent Developments

19 19 Financial Highlights FY 06-07FY Growth y-y% FY 06-07FY Domestic Sales (Net)11,80310, % Exports Sales6,0523, %13482 Total Net Sales17,85514, % Total Operating Income18,28814, % Total Income18,55214, % PBIDT3,7852, %8464 PBIDT % to Total Income20.4%19.6% Net Profit2,3381, %5234 NP % to Total Income12.6%10.2% EPS Rs. ## ## EPS of FY is adjusted for bonus shares issued in theratio of 1:1 in Aug-06. Rs. Mio.US $ Mio. Net Worth8, Total Debt4, Net Fixed Assets9, Net Current Assets4, Consolidated Rs. Mio.USD Mio As on 31st Mar 07

20 20 Our vision Zydus shall be a leading global healthcare provider with a robust product pipeline and sales of over $1 bn by 2010; we shall achieve sales of over $3 bn by 2015 and be a research-based pharmaceutical company by 2020.

21 21 No part of this presentation may be reproduced, quoted or circulated without prior written approval from Cadila Healthcare Ltd.. This presentation may include certain “forward looking statements”, based on current expectations, within the meaning of applicable laws and regulations. Actual results may differ and the company does not guarantee realization of these statements.The Company also disclaims any obligation to revise any forward-looking statements. The viewers may use their own judgement and are advised to make their own calculations before deciding on any matter based on the information given herein Thank You.

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