Lupin ltd.

Introduction
Founded- in 1968

Founder- Mr. Deshbandhu Gupta

Headquartered- Mumbai, India

Industry-Pharmaceuticals Drug &Healthcare

Products- Medicines and Vaccines

Revenue- Lupins consolidated revenue increases by 18.98% to Rs. 12,378.82 Mn for Q1 FY 13-14

Subsidiaries- Lupin Generics Ltd.

Pharmaceutical Industry Overview
Global Pharmaceutical Industry Overview
Emerging Trends
Estimated to be a US$550 billion market in 2011 (including estimated unaudited pharmaceutical sales)
Market expected to grow at a rate of 7% to 9%
Regulated markets account for almost 90% 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 10%
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
Legislative changes such as the enactment of the Hatch-Waxman act and changes to the Medicare Act in the US
providing a major boost
Stringent testing requirements and declining R&D productivity has led to limited new drug pipeline
Increasing pressure on big pharmaceutical companies to enhance new drug pipeline
Factors driving the Indian Pharmaceutical
Industry
Indian Pharmaceutical Market
Overview
Approximately US$5 bn in 2011 with
exports accounting for an additional
US$2.5 bn
Amongst top 4 markets by volume
globally
Strong branded generics market
Market growing at a rate 6%-8% as a
result of growing awareness, increasing
penetration & increasing affordability

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Generic Exports and API Outsourcing
India is well positioned to target generic exports and API
outsourcing opportunities in the regulated markets
Skilled work force with strong chemistry skills
Significant and sustainable cost advantage over
international peers
Good understanding of the regulatory framework
India has largest number of US FDA approved plants
outside the US
Largest number of DMF filings outside US
Indian companies are among the leading players
participating in Para IV challenges
R&D Outsourcing
Skilled work force at competitive costs
Significant progress in development of pharma & R&D
infrastructure over last 5 years
Focus on early stage processes for NCEs, NDDS, clinical
trials, process re-engineering and dedicated
manufacturing
Lupin A Differentiated Business
Model
Business Overview
Among the top 6 pharmaceutical companies in India
Leading global player in anti-TB & Cephalosporins
Strong position in prils and emerging global player in
statins
Globally accredited manufacturing facilities
Strong R&D Focus
14 ANDAs, 15 DMFs, 4 COS, filed in FY2009
Four NCE molecules in clinical stage
R&D spend in FY2009 US$18 mn
Focused on US, EU, Australia, Japan, India, China
and CIS
Share in Revenues from America & Europe increased
from 10% in FY2008 to 24% in FY2009
Employs 4,259 people
Home to 260 scientists
Therapeutic Mix - FY 2009
Geographical Mix - FY2009
Cephs
43%
Others
12%
Anti-TB
24%
CVS
21%
South East
Asia
21%
India
53%
Others
2%
America &
Europe
24%
Product Profile - API & Intermediates
Proven process chemistry as well as fermentation
skills
Major therapeutic focus areas: anti-TB,
cephalosporins (both orals and injectables), prils
and statins
Quality and cost leadership
Relationship Driven model

Going Forward
Extending global dominance across a wider portfolio
Increasing strategic partnerships / alliances
Reap benefits of new and expanded capacities
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
US EU
Filings till date 22 -
Approvals till date 7 -
Target filings in FY06 +15 8-12
Target launches in FY06 7 0
Products under development 25-30 8-12
Target filings going forward per year +15 6-8
US / EU Product Development
Globally Accredited Facilities
Manufacturing
Research Center
Goa
Pune
Tarapur
Ankleshwar
Mandideep
Aurangabad
LOCATION PRODUCTS APPROVALS
Mandideep,
Madhya Pradesh
Cephalosporins
Prils
USFDA, UK MHRA, TGA
USFDA
Tarapur,
Maharashtra
Rifampicin
Lovastatin
USFDA, UK MHRA
-
Ankleshwar,
Gujarat
Ethambutol
Intermediates
USFDA
USFDA
Aurangabad,
Maharashtra
Rifampicin
Pyazinamide
Ethambutol
Lisinopril
WHO, MCC (South Africa)
WHO, MCC (South Africa)
WHO, MCC (South Africa)
WHO, MCC (South Africa)
Verna,
Goa
Non-
cephalosporin
Oral
Formulations
USFDA
Pune,
Maharashtra
R&D
Strong Research & Development Focus
Process
ANDA
NCE
NDDS
NDDS Process
ANDA NCE
First licensing deal signed for anti-
infective product
Three patented platforms for
delivery systems
Two products launched in India
Proven abilities in process
chemistry and fermentation
Ability to develop products with
high technology barriers
30 DMF and 75 EDMFs filed
22 ANDAs filed,7 approved -
including $756mn Ceftriaxone
Broad range of filings with wide
therapeutic coverage
Anti-migraine and anti-psoriasis
(herbal) in Phase IIa trials
Anti -tb and anti-psoriasis
(chemical) in phase I trials
Anti-diabetes and anti-bacterial in
pre-clinical stages
Experienced Management Team
NAME POSITION BRIEF PROFILE
Desh Bandhu
Gupta, Ph.D
Chairman
Founded the company in 1968
Started his career teaching chemistry at Birla Institute of Science and Technology, Pilani, Rajashthan
Kamal K Sharma,
Ph.D
Managing
Director
Experience of more than three decades at a range of senior management positions managing projects, corporate
development and general management in the pharmaceuticals and chemicals industries
Satish Khanna
Group President,
API
Strengthened Lupin's API business and secured the company's position among top manufacturers, globally
Rich experience of more than 25 years in leading companies including Mitsu Industries, Tata Chemicals and Union
Carbide
Vinita Gupta
Sharma
President, Lupin
Pharmaceuticals
Inc, US
Has led Lupin's foray in the advanced markets of the US and Europe and in cementing alliances with global majors
Himadri Sen, Ph.D
President, Pharma
research
Spearheading Lupin's drive for NDDS, ANDA and patent fillings
Has worked with leading Indian and global pharma companies in the areas of pharma research, technology development
and transfer and manufacturing support
Shakti
Chakraborty
President, India
Region
Formulations
Has driven Lupin's entry in the lifestyle segments
Experience of more than three decades with leading pharmaceutical companies like Wockhardt, Aristo Pharma
Vinod Dhawan
President--Business
Development
Heads the AAMLA region, responsible for the development of Lupins business strategy for these markets.
Has worked with Ranbaxy in their international business
Divakar Kaza
President, Human
Resources
Responsible for developing HR management strategy and align it with overall business strategy of the company
Brings along with him rich business experience of about 2 decades in organizations like Wipro, General Electric etc
Indrajit Banerjee
President, Finance
& Planning
Responsible for the finance, IT and planning functions and align it with overall business strategy of the company
Rich experience of more than 2 decades in organizations like Indal, Lucent Technologies
Harish Narula
President Corporate
Affairs
Heads the companys business initiatives in the CIS region
Supports the businesses through various Embassies and trade Associations
Nilesh Gupta Exec VP, IPMG
Responsible for driving product identification for the advanced markets identifying in-licensing and out-licensing
opportunities
Financial Overview
Financial Profile
Revenues Net Income
EBITDA / Interest Coverage Debt / Equity
1.8
2.0
1.7
0.8
0.9
-
0.5
1.0
1.5
2.0
2.5
FY2008 FY2009 FY2010 FY2011 FY2012
D
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FY2008 FY2009 FY2010 FY2011 FY2012
160
175
214
268 271
140
160
180
200
220
240
260
280
R
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(
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$

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2.3
2.9
2.9
5.4
5.3
-
1.0
2.0
3.0
4.0
5.0
6.0
FY2008 FY2009 FY2010 FY2011 FY2012
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13.8
16.6
17.6
22.7
19.4
10.0
13.0
16.0
19.0
22.0
25.0
FY2008 FY2009 FY2010 FY2011 FY2012
N
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(
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$

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Regulated Markets Driving Growth
Revenue increased by 26%
Export Revenue increased by 36%
Buoyant off-take in regulated market
with sales increasing by 85% to
US$38.9 mm
Finished dosage increased by
533%
API revenue increased by 15%
Profit margins improved substantially
with reduction in costs
Key Highlights
Half Year Ended Sep 30 YOY
2011 2012 Growth
Income Statement Data
Revenue 141.1 178.3 26.4%
EBITDA 17.0 34.3 101.8%
EBIT 13.4 30.0 124.8%
Interest 3.0 2.9 (2.9%)
PBT 10.3 27.1 162.2%
PAT 8.7 20.1 131.7%
Key Ratios
EBITDA Margins 12.6% 19.9% -
PAT Margins 6.4% 11.7% -
(US$ Millions)
Business Strategy and Investment
Highlights
Business Strategy
Continued growth of
Anti-TB and
Cephalosporin
Business
Strengthen Presence
in Lifestyle Drugs
Strong Corporate
Governance
Penetrate Regulated
Markets
Broad Basing the
Product Basket
ANDA, NDDS and NCE
Sustainable
Growth
Investment Highlights
Leadership status in the global anti TB and cephalosporin market
Strong growth opportunity driven by Lupins entry into regulated markets
which are supported by its strong DMF and ANDA pipeline
Increased focus on research programme including ANDA, NDDS and NCE
providing multiple drivers of growth going forward
Marketing tie-ups with global players




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