INVESTOR UPDATE OCTOBER 2015 · DISCLAIMER Except for the historical information contained here in,...

INVESTOR UPDATE OCTOBER 2015

OUR ENDEAVOR IS TO HELP PRESERVE EARTH’S MOST PRECIOUS RESOURCE …HUMAN LIVES

Except for the historical information contained here in, statements in this presentation and the subsequent discussions, which

include words or phrases such as “will”, “aim”, “will likely result”, “would”, “believe”, “may”, “expect”, “anticipate”,

“estimate”, “intend”, “plan”, “contemplate”,“seekto”, “future”, “objective”, “goal”, “likely”, “project”, “should”,

“potential”, “will pursue” , “will continue” and similar expressions or variations of such expressions may constitute "forward-

looking statements".

These forward looking statements involve a number of risks, uncertainties and other factors that could cause actual results,

performance or achievements, to differ materially from those projected by the forward-looking statements. These risks and

uncertainties include, but are not limited to our ability to successfully implement our strategy, our growth and expansion

plans, obtain regulatory approvals, our provisioning policies, technological changes, investment and business income, cash

flow projections, our exposure to market risks as well as other risks.

Claris Lifesciences Limited can not guarantee that the mentioned assumptions and expectations are accurate or will be

realized; and also does not undertake any obligation to update forward-looking statements tor effect events or

circumstances after the date thereof.

DISCLAIMER

www.clarislifesciences.com 3

�SPECIALITY INJECTBALE BUSINESS QUARTERLY SALES BREAKUP ( INR mn)

CONTENTSINDUSTRY OVERVIEW


FY2014-15 FY2015-16 (P)

REGION Q1 Q2 Q3 Q4 TOTAL Q1 Q2 Q3 Q4 TOTAL

TOTAL 985 1156 1192 1117 4450 1257 1370 1617 1556 5800

USA 198 304 346 503 1351 503 548 647 623 2321

ORM 320 291 300 248 1159 299 326 385 371 1381

EM 467 561 546 366 1940 455 496 585 562 2098

�SPECIALITY INJECTBALE BUSINESS QUARTERLY REVENUE & EBITDA (INR mn)



Period FY2014-15 FY2015-16 (P)

Particular Q1 Q2 Q3 Q4 TOTAL Q1 Q2 Q3 Q4 TOTAL

Revenue 985 1156 1192 1117 4450 1257 1370 1617 1556 5800

Revenue Growth%

36% 17% 3% -6% 13% 9% 18% -4% 30%

EBITDA 365 433 473 404 1675 453 493 582 560 2088

EBITDAGrowth%

64% 19% 9% -15% 12% 9% 18% -4% 25%

�CLL CONSOLIDATED QUARTERLY REVENUE & EBITDA (INR mn)



Period FY2014-15 FY2015-16 (P)

Particular Q1 Q2 Q3 Q4 TOTAL Q1 Q2 Q3 Q4 TOTAL

Revenue 1564 1659 1827 1579 6629 1495 1630 1927 1848 6900

EBITDA 414 515 734 373 2036 460 501 594 568 2123

� MARKET SIZE OF US PRODUCTS



� Global Pharma & Targeted Market



Global Pharma Market : USD 770 bn

Global Injectables Market : USD 150 bn

Generic Injectables Market : USD 20 bn

Cef, Beta-lactam, Penam : USD 3 bn

General Injectables :

USD 8 bn

Bio tech: USD 4 bn

Oncology: USD 5 bn

Non Targeted Products: USD 3 bn

Targeted Products: USD 5 bn

Selling: USD 1 bn

Developed/Filed: USD 2 bn

Pipeline: USD 2 bn

US, 51%

EU, 24%

ORM, 5%

EM, 20%

� USA - Pipeline Launch Profile

� Business poised for significant growth from an attractive and unencumbered pipeline

� Targeting a portfolio of 100 products by 2020 in USA

*A launch is considered to be the launch of one product in one geography

ANDA Approvals per year & US Market Size (USD Mn)ANDA Approvals per year & US Market Size (USD Mn)

CONTENTSUS MARKET


13

911

17

16

14

20

199 374

1,049

1,437

1,958

2,487

3,645

(1,000)

(500)

-

500

1,000

1,500

2,000

2,500

3,000

3,500

0

20

40

60

80

100

120

140

Registered FY 2016E FY 2017E FY 2018E FY 2019E FY 2020E FY 2021E+

New ANDA Approvals Market Size

� USA – Strong Front-end Operations

CONTENTSUS MARKET


• Wholly owned operating subsidiary

• Competent local management team

• Strong focus on the market

About Claris Lifesciences Inc.

US Organisation Structure

Jt. CEO

Vice President

Sales MarketingBusiness

OperationsRegulatory

CompliancesFinance

VP- Sales

Manager

GM Operations

Director Operations

Sr. Director

Asst. Manager

Manager*

Past Employer: American Regent

Director

1.Direct Sale*

2.Direct Sale*

3.Direct Sale*

Manager*Chief Marketing

Officer*

* New Positions

Associate VP

ManagerManager Executive*

GMP

VP - GMP

Manager*

� Global market size of c.US$900m

� US market size of c.US$245m with a 2010-2013 historical CAGR of c.29%

Market SizeMarket Size

�Propofol – key facts


CONTENTSKEY PRODUCTS - PROPOFOL

� Capacity to meet c.25% of the Regulated market requirements

CapacityCapacity

� The only emerging market player to have approval and commercial sales in regulated markets

� Over 8 years of experience in manufacturing and marketing Propofol in regulated markets

� Over 100 million units sold globally

� Approval in 86 countries with commercial sales in over 50 countries in 2013. Filing in the US

� Well established global distribution network

Leading Market PositionLeading Market Position

� India cost advantage

Competitive StrengthsCompetitive Strengths

� Economies of scale

202 235 281 344116 120

222246

0

100

200

300

400

500

600

700

2010 2011 2012 2013

Anesthesia & Propofol Market Growth

Other Anesthesia Propofol246

184

145

575

US EU & ORM EM Global

Market Size at CIF Prices (US$ mn)

0601

1,093

1,694


Claris Region wise sales of Propofol – FY15 (Rs. mn)

318355

503590

� Global market size: c.US$530m

� US market size of c.US$320m with a 2010-2013 historical CAGR of 8%

Market SizeMarket Size

�Iron Sucrose – key facts


CONTENTSKEY PRODUCTS – IRON SUCROSE

� Capacity to meet c.28% of the Regulated market requirements.

CapacityCapacity

� FDA-approved own manufacturing of API along with finished formulation

� Manufacturing capabilities in ampoules & vials

� Strong international footprint

� The only generic player in many countries incl. Brazil and South Africa

� Clinical data to establish B.Eq. with the innovator product

Leading Market PositionLeading Market Position

� India cost advantage

Competitive StrengthsCompetitive Strengths

� Economies of scale

Market Size at CIF Prices (US$m)

159

32

32

223


0 14

88 102

US ORM EM Global

Claris Region wise sales of Iron Sucrose – FY15 (Rs. mn)


Financial Plan

� Financial Breakup across Businesses (INR Mn)

CONTENTSFINANCIAL PLAN


All financials in Rs. Mn.Numbers are based on Management Representation of the SIB

Claris Lifesciences Limited

COPL Pass Through 2012

EBITDA 2037

Net Sales 6470

100% 20%

Consolidated FY15

1100

2123

6900

FY16(P)

0

2702

7549

FY17(P)

Expenses 180

EBITDA 420

Treasury & Other Income

600

Standalone FY15

207

93

300

FY16(P)

238

60

298

FY17(P)

EBITDA 1617

Revenue 4473

Speciality Injectable FY15

2030

5800

FY16(P)

2642

7549

FY17(P)

Revenue 3823

Consolidated FY15

4281

FY16(P)

4795

FY17(P)

SIB Net Sales 4473 5800 7549

Claris Injectables Limited(Speciality Injectable Business)

Claris Otsuka Private Limited

� Speciality Injectables – Revenue Breakup & Projections (INR Mn)



4473

5800

7549

FY15 FY16 (P) FY17 (P)

Revenue Projections

Region 2016-2015 2017-2016

USA 65% 63%

ORM 25% 30%

EM 28% 30%

Total 30% 30%

Region wise Growth

Region wise Revenue Breakup

USA30%

ORM26%

EM44%

FY2015

USA40%

ORM24%

EM36%

FY2016

USA50%

ORM20%

EM30%

FY2017



� Projected Cash Flow and Key Ratios of Specialty Injectable Business. (INR Mn)

Particulars 2015-16(P) 2016-17(P) 2017-18(P)

Revenue 5800 7540 9425

EBITDA 2030 2642 3252

TAX 250 400 600

Interest Cost 387 399 406

Debt Repayment 575 720 576

Cash from Operations 818 1123 1670

Maintenance 100 120 140

Growth + Regulatory 250 350 750

R&D 250 300 350

Growth Investment 600 770 1240

WC Changes 631 545 558

Free Cash Flow (413) (192) (128)

Assumption: Growth Investments and working capital is funded with Debt

1.55

1.040.76

2015-16 2016-17 2017-18

LT Debt / EBITDA

2.441.86

1.52

2015-16 2016-17 2017-18

Total Debt / EBITDA

1.732.06

3.08

2015-16 2016-17 2017-18

DSCR

Claris Corporate Headquarter I Nr. Parimal Crossing I Ellisbridge I Ahmedabad I India.

www.clarislifesciences.com

Thank You

E-Mail: [email protected]

INVESTOR UPDATE OCTOBER 2015 · DISCLAIMER Except for the historical information contained here in,...

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