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ConfidentialCorporate Presentation 2017-18
Cipla: Transforming for a new horizon
Cipla Corporate Presentation
ConfidentialCorporate Presentation 2017-18
Disclaimer
Except for the historical information contained herein, statements in this presentation and the subsequent discussions may constitute "forward-
looking statements". These forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to
differ materially from those suggested 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, our ability to obtain regulatory approvals, technological changes, fluctuation
in earnings, foreign exchange rates, our ability to manage international operations and exports, our exposure to market risks as well as other risks.
Cipla Limited does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof.
Information relating to any medical products or medical devices contained herein is provided by Cipla for general information purposes only.
Information on any of the medical products or medical devices may vary from country-to-country. A reference to a medical product or a medical
device does not imply that such medical product or medical device is available in your country. The commercial availability of the medical products
or medical devices listed herein in your country is dependent on the validity and status of existing patents and/or marketing authorizations related
to each. An independent enquiry regarding the availability of each medical products or medical device should be made for each individual country
The product information contained herein is not intended to provide complete medical information, and is not intended to be used as an alternative
to consulting with qualified doctors or health care professionals.
Nothing contained herein should be construed as giving of advice or the making of a recommendation and it should not be relied on as the basisfor any decision or action. It is important to only rely on the advice of a health care professional
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ConfidentialCorporate Presentation 2017-18
Established in 1935, Cipla is a pioneer in the Indian pharmaceutical industry
Cipla started as a small Indian enterprise, committed to the nation's quest for self-sufficiency – today it has transformed into a world-class global pharmaceutical player
3rd largest in India4 3rd largest in South
Africa5
Among top 10 most
dispensed generic
companies in US6
Cipla Today8
Markets 80+
Revenue ~ $2.2bn
R&D
investment~ 7%
EBITDA
margin~ 18%
Among the top 5 in
some of the key
emerging
economies7
1 in 3 HIV* patients
take Cipla ARVs# 1
One of the world’s
largest inhalation
portfolios
One of the world’s
largest suppliers of
anti-malarials
Partner of choice for
Donor Funded /
Tender Agencies
1. Based on combined sales in the generic accessible market | 2. Rx + Gx business, as per IMS MAT Nov ‘17 + business estimates | 3. As per IMS MAT Nov ‘17 |4. By market share, India sales, IMS MAT Nov ’17 | 5. As per IMS MAT
Nov ’17, including tender business | 6. As per IMS MAT Nov ‘17 – by TRx | 7. As per IMS MAT Sept ’17 | 8. Trailing 12 months (TTM) – H2 FY’17 + H1 FY’18 | * HIV - Human Immunodeficiency Virus | # ARV – Anti Retrovirals
Amongst the top 2
largest dispensed
companies in India2
8 out of every 10
doctors in India
prescribe at least 1
Cipla medicine3
3rd most dispensed
company in South
Africa3
Patient access at the center of Cipla’s success
Healthy business performance in key markets
YEARS
OF CARING82
3
ConfidentialCorporate Presentation 2017-18
Scorecard - Cipla has made significant achievements against its key strategic objectives (1/2)
Grow US towards a billion dollar enterprise with focus on Specialty
95 ANDAs* pending for approval including 25
tentative approvals
20+ annual filing run rate since FY ’17 - to be
maintained in the coming years
Approvals for differentiated products such as
Budesonide, Decitabine and Sevelamer demonstrate
capability in niche areas
Committed to build a Specialty franchise in the US.
Multiple assets under evaluation for partnership
Drive growth in markets like India, South Africa and other key markets
Healthy growth rates last year for India (~10%1) as well as
South Africa (~17%2)
Multiple in-licensing deals in India and South Africa to
strengthen key therapies like Diabetes, Cardiology, Respiratory,
and CNS#
Artesunate Rectocaps (paediatric Anti-Malarial) and Q-Tib (TB
in HIV Patients) launched during the year under Cipla Global
Access
Biosimilars - partnerships in emerging markets and South
Africa
*ANDA – Abbreviated New Drug Application | # CNS – Central Nervous System
1. Rx + Gx, FY ‘17 | 2. FY ‘17
4
ConfidentialCorporate Presentation 2017-18
23 successful audits1 this year
across our facilities including 7
USFDA audits
Manufacturing and R&D sites
remain in a state of compliance
Fresh talent onboarding and
continuous skill upgradation at
manufacturing sites
Maintaining high standards of quality & compliance
`MDI – Metered Dose Inhaler | ^^ FPSM - Fluticasone Propionate/Salmeterol | *DTM – Direct-To-Market | # B2B – Business-To-Business | ^ SA – South Africa | ~ SSA – Sub-Saharan Africa | ** CGA – Cipla Global Access
1. Including Invagen facility audits
Scorecard - Cipla has made significant achievements against its key strategic objectives (2/2)
Expanding Respiratory franchise
Respiratory in India: shaping the
ecosystem – over 2Mn patients
counselled over the last year
Synchrobreathe (breath-actuated MDI`)
successfully launched in South Africa
FPSM^^ launched in Australia and 8
European markets this year
FPSM now sold in 40+ countries
Leadership position in Respiratory in
markets like India and Sri Lanka
Business optimization to bring focus and drive synergy
25+ markets optimized in the last 2
years in emerging markets
Strategic divestitures executed to
increase focus on core business
5+ markets converted from DTM* to
B2B# model in Europe
African footprint consolidated by
merging SA^, SSA~ and CGA** into
SAGA
5
ConfidentialCorporate Presentation 2017-18
20%
23%25%
FY '16 FY '17 H1 FY '18
Optimization efforts have led to increased margins, as well as synergies and efficiencies in the system
• Cost containment initiatives in direct and indirect spends have resulted in significant margin improvement and driven
synergy, simplification and efficiency
• Supply chain optimization efforts have led to an increase in OTIF* and reduction in stock-outs
1. Margins exclude one-offs (like Esomeprazole, accounting based reclassifications, restructuring cost and Indigo), Cipla Health and Biotech business | * On Time In Full
Generics base business EBITDA margin (ex-R&D)1 has shown considerable improvement in the last few years
~
~~
+ 3% + 2%
6
R&D expected to grow in the near
future
Fuel for further innovation and for
pursuing other growth opportunities
ConfidentialCorporate Presentation 2017-18
Upcoming growth opportunities for Cipla are predicated around multiple levers across geographies
7
India:
• Portfolio strengthening
• Patient engagement
North America:
• Commercial strength
• Differentiated pipeline
• Specialty focus
SAGA:
• Market expansion
• Partnerships
• Tender business
Other Key Markets:
• Strengthen DTMs
• Expand in newer markets
Diversified portfolio
& pipeline in
regulated markets
High standards of
manufacturing,
regulatory and
compliance
Cipla’s core
principles – guiding
its culture of
excellence
Share of revenue1
1. Revenue share as per H1 FY’18 | 2. SAGA includes South Africa, Cipla Global Access and Sub-Saharan Africa | 3. Includes vet, India API and others
# EM – Emerging Markets | ^ EU – Europe | * API – Active Pharmaceutical Ingredient
*
2
3
#
^
Others
2%API
4%
ConfidentialCorporate Presentation 2017-18
India will continue to be a key component of Cipla’s growth story, providing a strong base for global expansion
Rx therapy share and market performance1
1. As per IMS sales data Nov‘17 | 2. As per overall therapy ranking in IMS as on Nov’17 |
* SGLT-2 - Sodium-Glucose Co-Transporter 2 | # OTC – Over-The-Counter | ^ BPH - Benign Prostatic Hyperplasia
Growth outlook for India business
Therapy Strengthening:
• Cardio-Metabolic: Focus on progressive products like betablockers and
SGLT-2* Inhibitors
• Dermatology: Expand in topical segments – 10+ upcoming launches including
topicals and emollients
• Urology: Strengthen prescriber base with focus on BPH^, build Uro-Oncology
Portfolio
Acceleration through inorganic initiatives:
• Executed partnerships with MNCs for Respiratory, Cardiology, and Diabetes
segments
• Advanced discussions underway for partnerships in Oncology, Dermatology
and Vaccines
Respiratory30%
Anti-infectives
21%
Cardio-Metabolic
13%
Gastro Intestinal
6%
Urology5%
Neuro / CNS4%
Ophthal / Oto3%
Anti-virals5%
Others13%
#1
#3
#1
#5
#5
#1
4 therapies ranked amongst top 32 – contributing to
61% of Cipla’s revenue share
Ranked 3rd in chronic segment and 2nd in acute
17 first-to market brands in inhalation market
8
ConfidentialCorporate Presentation 2017-18
Driving volume growth in India by increasing the patient funnel - Cipla is running various initiatives and programs to expand awareness and improve diagnosis & compliance
Over 80 Mn Asthma and COPD patients in India
Of the diagnosed
population, 20%
are still untreated
Only 24% of
patients on
treatment are on
inhalation therapy
<10% of the total population is on
inhalation therapy and of those,
only ~40% are compliant
BEROKZINDAGI
BEROKZINDAGI
Note: Nebules not included | Source: Cipla estimates basis market studies
1
2
3
~8 Mn patients on inhalation
therapy
~30 Mn patients on treatment
BerokZindagi aims for conversion from oral to inhalation therapy + targeting diagnosed patients not on treatment
• Campaign targeting
asthma awareness and
management
• Over 11 million people so
far have come in touch
with the campaign through
digital mediums
Breathefree addresses patients not on treatment as well as undiagnosed patients
Cipla’s innovative handheld Spirometer helps in diagnosing & educating patients
Partnered with a large diagnostic chain to
provide Spirometry test to all patients –
pilot with 5 centres & 40 doctors
Breathefree reached 2Mn
patient touchpoints through
~640 educators and 4000
Breathefree chemists
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Undiagnosed
51%
Diagnosed
49%
On
treatment
80%
Not on
treatment
20%
Oral
76%
Inhalation
24%
ConfidentialCorporate Presentation 2017-18
North America, with its current low base, is set to grow disproportionately and have a higher contribution to Cipla’s top-line
10
Amongst top 3 in 32 out of 47 products; market leader in 121
Launched limited competition products like gPulmicort and
gDacogen
On track for 20+ filings this year
* FY ‘18 onwards, for illustrative purposes only - not to scale | 1. Market statistics as per IMS MAT Nov ’17
Grow the US business to contribute ~30% towards Cipla’s revenues
18%
30%
FY '17 FY '18 FY '19 FY '20 FY '21 FY '22
US
Co
ntr
ibu
tion
*
Portfolio Expansion and Diversification:
• Build differentiated pipeline with focus on HIV, Respiratory
& Oncology
• Accelerate growth through in-licensing and multi-product
partnerships to diversify risk (5 partnerships executed)
Focus on Specialty (Respiratory and CNS):
• Use Tizanidine patch (Phase 1A study completed, results
under analysis) as a launchpad for Specialty business
• Multiple assets at an advanced stage of evaluation for
Respiratory and CNS
CNS, Oncology
CNS, Respiratory
RespiratoryGrowth
PortfolioOncology,
CNS
~
ConfidentialCorporate Presentation 2017-18 11
Focus on innovative platform technologies to build a robust pipeline which will drive future growth in North America
Innovative
technology
platforms
No of pipeline
products
Market size
(US$)
Inhalation
technology
15
14Bn
Suspension based
liquids
12
3.7Bn
Liposome
injections
2
308Mn
Nanotechnology
1
656Mn
1
2
Over 100 patents granted,
including respiratory
Patent filing includes drug
substances & products, platform
technologies, polymorphs &
crystals, and medical devices
Over 1500 dedicated and
talented scientists
Developing proprietary medical
devices for respiratory
medicinesMDIs, nasal
sprays, respules
Pipeline
snapshot
Anti-
inflammatory,
ophthalmic, CNS
Anti-fungal,
oncology
Technologically
complex nano-
paclitaxel
ConfidentialCorporate Presentation 2017-18
Filings for under-development products in the US will bolster future growthSplit of top 50 projects
6
8
104
22
16
15
6
9
4
11
22
17
18
28 4
Of the 200+ development projects, top 50 have market size of > US$ 35bn
RespiratoryTherapy Dosage form
Dermatology
Oncology
CNS
Others
Orals
Solids
Injectables
Inhalation
Others
Simple
Medium
Complex
Complexity Market potential (innovator sales)
> $ 500mn$100-500mn
< $100mn
Topicals
16 Para IV Filings primarily in Respiratory,
Oncology and Dermatology
15+ limited
competition products
CNS, Respiratory and
Oncology pipeline has a
brand market size of
>US$ 25bn
12
FPSM DPI under
development for regulated
markets
~80%
~40%
Limited competition products – indicative only1
~50%
~80%
~30%
~30%~40%
1. Competition stats are Cipla estimates
ConfidentialCorporate Presentation 2017-18
SAGA will continue to advance through private market expansion and institutional partnerships
SAGA to continue being a key business contributor, as well as home to first-of-its-kind initiatives by Cipla
13
4th largest in South Africa in the private market1
Leading position in 5 out of the 14 therapies in South Africa2 in
which we have a presence
Market expansion:
• 6 new first-to-market products to be launched over the next few
months addressing a brand market of > US$ 30Mn
• Target tenders in ARVs, malaria, tuberculosis, hepatitis-C &
reproductive health
In-licensing and partnerships:
• ~10 partnerships executed for biosimilars, OTC and other select
molecules. Further tie-ups being evaluated.
1. As per IMS MAT Nov ‘17, by value | 2. As per IMS MAT Nov ’17 & WWP
After providing ‘dollar-a-day’ HIV drugs in Africa, Cipla now partners with Clinton Health to provide access to
affordable cancer treatment in Africa
• American Cancer Society & Clinton Health Access Initiative announced collaboration with Cipla to increase access to lifesaving cancer treatment in Africa
• Cipla has pledged to make select common cancer medicines available at agreed upon affordable prices
ConfidentialCorporate Presentation 2017-18
Cipla’s presence in other key markets will serve as our demographic dividend by bringing in high volumes and cushioning against market volatility
Increased focus on going deeper in certain chosen markets and strengthening current portfolio
14
Strengthened front ends in Australia and UK
Executed biosimilar partnerships in several emerging markets
Build and deepen newer markets for incremental volume growth:
• Australia, Colombia – Expand presence through Respiratory portfolio
• Brazil & China – Develop presence through Oncology and Respiratory
pipeline
Strengthen DTM Markets to build base for growth:
• Strengthen key DTM markets like Sri Lanka and UK through new
Respiratory launches (MDIs and DPIs*)
• Build biosimilar partnerships across marketsStrengthen
existing DTMs
New markets +
new molecules
Volume growth across other key
markets
* DPI – Dry powder inhaler
ConfidentialCorporate Presentation 2017-18
Cipla continues to maintain quality and compliance standards across manufacturing locations
15
521 successful audits conducted by global regulatory bodies across our facilities2
17 12 6 4 3 3 2 1 1 1
53 2 1
5
25 1
1 2 1 1
7
7
1
12 1
1 2 1
USFDA PIC/S WHO(Geneva)
TGA(Australia)
MHRA (UK) APVMA(Australia)
INVIMA(Colombia)
ANVISA(Brazil)
EMA EDQM(Europe)
PMDA(Japan)
2015 2016 2017
2
23 successful audits in
2017 alone including 7
USFDA audits
Finished
formulations
▪ 30+ formulations facilities
▪ 50+ dosage forms
▪ 1500+ products
1. Total of 2015,2016 and 2017; includes Invagen facility audits for 2016 & 20172. Select sites also have approvals from Denmark, France, Uganda, Singapore, Latvia, Tanzania, Kenya and various other countries
Increased automation to further strengthen quality and control processes
APIs▪ 5+ API facilities
▪ 1000+ tons capacity
ConfidentialCorporate Presentation 2017-18
Cipla intends to achieve its key strategic goals in order to grow sustainably with a better overall financial profile
16
1
Grow US towards a ~30% contribution to Cipla’s revenues via continued traction on filings & launches;
ramp up Specialty through in-house capabilities and partnerships
3Leverage existing Respiratory capabilities globally to expand our footprint, both in emerging and
developed markets
5 Continue momentum on ambitious cost optimization programs in order to boost margin profile and future growth
2
Bolster growth and leadership position in India, South Africa and key emerging markets through consumer
access programs, inorganic partnerships and therapy shaping initiatives
4 Build a leaner operating model and continue our focus on excellence in quality, compliance, patient
access and talent pool
ConfidentialCorporate Presentation 2017-18
Cipla’s Credo – The center of Cipla’s culture of excellence
17
Unveiled earlier this year, Cipla’s credo is being embodied everyday by its 23000+ employees as the base principles for guiding life at Cipla
ConfidentialCorporate Presentation 2017-18
Thank You
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ConfidentialCorporate Presentation 2017-18
Contact Details
Registered Office :
Cipla Limited, Cipla House, Peninsula
Business Park, Ganpatrao Kadam
Marg, Lower Parel, Mumbai 400 013
For any general queries, Reach us at:
For more information please visit
www.cipla.com
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