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Investor Presentation

LUPIN. Investor Presentation. May 2006. Safe Harbour Statement.

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Investor Presentation

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  1. LUPIN Investor Presentation May 2006

  2. Safe Harbour 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; trends toward 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 Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

  3. Agenda • Global Pharmaceutical Industry Overview • Indian Pharmaceutical Industry • Lupin -Business Update • 2006-07 and Beyond

  4. Lupin Limited

  5. Vision • To be an Innovation led Transnational Pharmaceutical Company Values • Superior Performance • Entrepreneurship • Customer Orientation • Working Together • Respect for People • Integrity

  6. Pharmaceutical Industry Overview

  7. Global Pharmaceutical Industry Overview • Global Pharmaceutical market at US$600 billion market in 2005 • Market expected to grow at a rate of 6-7% • Ten major markets account for almost 81% of the market in terms of revenue • North America is the single largest market accounting for approx. 50% of global sales and is expected to grow at a CAGR of 5-8% • Japan, the second largest market, at US$60bn is growing at 6% • EU experiencing growth at 7% at US$ 170bn • Growing importance of generics in regulated markets • Pressure from healthcare providers and insurance companies to reduce healthcare costs driving usage of generic drugs • Increasing patent expirations driving generic drug availability • Stringent testing requirements and declining R&D productivity has led to limited new drug pipeline 4

  8. Indian Pharma – Emerging Scenario Domestic Market: US$ 5bn Exports: US$ 2.5bn Total: US$ 7.5bn Indian Pharma

  9. Sustainable Earnings Accelerated Growth Fulfilling Stakeholder Aspirations Lupin Strives For:

  10. Specialty Generics Para III Para IV Branded Generics Complex Generics Suprax… Ceftriaxone... NCE/ NDDS Ramipril… Lisinopril… Regulated Markets (US): Lupin Approach LUPIN • Other Regulated Markets: • Focus on Branded Products • Partnerships & Alliances

  11. Global Tenders Branded Generics Rural Urban Specialty Post 2005 NDDS In-licensing GTB Lupinova IRF/ CIS/ AAME/ LA Ceff-ER, Odoxil OD, … Enoxaparin Sodium… LUPIN Developing Markets : Lupin Approach

  12. Advanced Markets

  13. US Branded: • Suprax continues its prescription growth: over 5000Rx per week • Sales force internalised • Copromotion of Atopiclair with Chester Valley • New Products in 2006-07 Generics: • 7 products launched in the US in 2005-06 • Timely launch of Ceftriaxone and Cefprozil immediately on expiry • Launched Lisinopril in Dec05: Consolidating Market share • Commenced Direct Marketing (DTM) in Dec05 • 18 ANDAs filed taking total ANDAs to over 35

  14. Generics US

  15. Other Markets Europe: • Ramping up MAA/ Dossier filings • Alliances in progress • Revenues commenced • Expressions of interest at advanced stages Japan, Australia & LA: • Expressions of interest moving forward • MDR-TB sales commenced in LA South Africa: • JV with Aspen (Anti-TB FDC) for Africa

  16. Robust pipeline

  17. India Region

  18. India Region Formulations • Growing at 24% vs 8% industry average Contributed by CVS (57%), NSAIDS (38%) and Diabetology (174%) • Anti-Asthma range launched in Aug 04, already number 2 in its segment and growing (126%) • Signoflam (Endeavour), the best product launch (IMS Data) of the year in the industry • Lupinova driving foray into rural and less penetrated regions • Top 10 brands *introduced in last 3 years Rs. Mn ORG-MAT JAN 06

  19. Other Markets CIS: • Posted a healthy growth – CAGR of 44% over last 4 years • Expanding Field Force – • Russia, Ukraine, Azerbaijan, Kazakhstan, Uzbekistan • Increased market penetration • Around 20 Products Registered in each; around 10 under Registration SE Asia: • Alliance with GSK Middle East: • Will be shared as Alliances progress Africa: • Alliance with Ranbaxy GTB: • Posted a healthy growth – 122%

  20. API & Intermediates

  21. API & Intermediates • Sales : 11% growth • Ceftriaxone launched in US • Focus on Cost & Quality Leadership and Reliability • Long Term Supply Contracts • Global Leadership in areas of therapeutic presence • Future expansion only at SEZs

  22. Global Position in API & Intermediates Product Therapeutic Segment Global Rank Ethambutol Anti-TB 1 Rifampicin Anti-TB 1 Pyrazinamide Anti-TB 1 7ACCA Cephalosporin - Intermediate 2 7ADCA Cephalosporin - Intermediate 1 Lisinopril Cardiovascular 1 Two new products in 2006-07

  23. Research & Development

  24. R&D at Lupin • Over 300 scientists • Actively engaged in: Process Improvement/ Formulation Development/NCE/ NDDS • Expenditure: Rs.1030mn – 6.2% of Sales • Continue investing incrementally • Filings in last year • US: ANDAs: 18 • EU: MAAs: 11 • ANZ: Dossiers: 9 • Other: Dossiers: 346 • DMFs/EDMFs/COS:41 • Going Forward • NDDS • Paediatrics range • Patented Technology platforms • Products for paediatric pipeline

  25. R&D at Lupin • NCEs • Anti Psoriasis (Herbal) - In Phase II • Anti Migraine - In Phase II • Anti Psoriasis (Chemical) - Entering Phase II • Anti TB - In Phase I

  26. Patents Patents Issued, Allowed & Pending 302 Issued, Allowed 71 Pending 231 US 14 EU 10 RoW 47 US 31 EU 18 RoW 182 EU

  27. Business Update

  28. 2005-06 Sales Growth 37% (Rs Mn) 34% 40% Revenue Composition

  29. Profit Growth 106% (Rs Mn) 116% 2005-06 • Revenue Growth : 37% • EBITDA margin : 18% • PBT : 14% • PAT : 11% • ROCE : 22%

  30. Geographical Coverage 2004-05 2005-06

  31. API vs FD 2004-05 2005-06

  32. Mandideep Ankleshwar Aurangabad Lupin’s Facilities Jammu Tarapur Mumbai Pune Goa Manufacturing Research Center Head Office

  33. Year 2006-07 and Beyond

  34. Lupin Going Forward • New Markets/ Initiatives: • Enter Advanced Markets • EU • Japan • Australia • South Africa • Establish On-shore presence in 5 select markets • Acquisition: • Brands in US • Businesses in select countries of EU • Domestic

  35. Lupin Going Forward • Explore New Therapies/ Business Segments: • Therapeutic Areas • Oncology • Dermatology • Business Segments • Biosimilars • CRAMS

  36. Thank you

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