Senores Pharmaceuticals Limited has informed the Exchange about Investor Presentation
Date: January 23, 2025
To, Sr. General Manager Listing Department BSE Limited Phiroze Jeejeebhoy Towers Dalal Street Mumbai – 400001
To, Sr. General Manager Listing Department National Stock Exchange of India Limited Exchange Plaza, C-1, Block G Bandra Kurla Complex Bandra (E), Mumbai – 400 051
BSE Scrip Code: 544319
NSE Symbol: SENORES
Sub.: Intimation under Regulations 30 of the Securities and Exchange Board of India (Listing Obligations
and Disclosure Requirements) Regulations, 2015 ‐ Investor Presentation
Dear Sir/Madam,
In terms of Regulation 30 of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and our intimation dated January 10, 2025 regarding the Earnings Conference Call, we enclose herewith the Investor Presentation for Q3 and 9M FY25.
The aforesaid information is also being hosted on the Company's website at www.senorespharma.com.
You are requested to take the same on record.
Thanking you.
For Senores Pharmaceuticals Limited
Vinay Kumar Mishra Company Secretary and Compliance Officer ICSI Membership No.: F11464
Enclosures: As above
Senores Pharmaceuticals Limited 1101 to 1103, 11th Floor, South Tower, One42, Opp. Jayantilal Park, Ambali Bopal Road, Ahmedabad‐380054, Gujarat, India
P: +91 79 2999 9857 | E: info@senorespharma.com W: www.senorespharma.com | CIN No.: U24290GJ2017PLC100263
Investor Presentation
JANUARY 2025
Safe Harbor
This presentation and the accompanying slides (the “Presentation”), which have been prepared by Senores Pharmaceuticals Limited (the “Company” / “SPL”), have been prepared
solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied
on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document
containing detailed information about the Company.
This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation.
This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission
from, this Presentation is expressly excluded.
This presentation contains certain forward looking statements concerning the Company’s future business prospects and business profitability, which are subject to a number of
risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements
include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic
growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage our international operations,
government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in
case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the
Company.
This Presentation contains data and statistics from certain reports and the F&S Report, which is subject to the following disclaimer Frost & Sullivan has taken due care and caution
in preparing this report (“Overview of the Global Pharma Market’' Report) based on the information obtained by Frost & Sullivan from sources which it considers reliable (“Data”).
This Report is not a recommendation to invest / disinvest in any entity covered in the Report and no part of this Report should be construed as an expert advice or investment advice or any form of investment banking within the meaning of any law or regulation. Without limiting the generality of the foregoing, nothing in the Report is to be construed as
Frost & Sullivan providing or intending to provide any services in jurisdictions where Frost & Sullivan does not have the necessary permission and/or registration to carry out its
business activities in this regard. Senores Pharmaceuticals Limited will be responsible for ensuring compliances and consequences of non-compliances for use of the (“Overview of the Global Pharma Market’') Report or part thereof outside India. No part of this Frost & Sullivan Report may be published/reproduced in any form without Frost & Sullivan’s prior
written approval.
2
Financial Highlights Q3 and 9M FY25
Private & Confidential
Q3 & 9M FY25 Business Segment Financial Highlights*
Regulated Markets
Emerging Markets
Others (API, Injectables)
+99.8%
180.5
+2.5%
68.4
70.2
90.4
) s r C R N
I ( e u n e v e R
+1,164.8%
84.6
+289.3%
26.1
6.7
6.7
+25.6%
18.9
15.0
+90.6%
6.8
3.6
Q3 FY24
Q3 FY25
9M FY24
9M FY25
Q3 FY24
Q3 FY25
9M FY24
9M FY25
Q3 FY24
Q3 FY25
9M FY24
9M FY25
EBIDTA Margins for Q3FY25 & 9MFY25 stood at 40%
EBIDTA Margins for Q3FY25 stood at 0.9% & 9MFY25 stood at 1.4%
EBIDTA Margins for Q3FY25 stood at 50% & 9MFY25 stood at 31%
)
%
( x i M e u n e v e R
Q3FY24
8.5%
4.5%
87.0%
Q3FY25
6.6%
25.3%
9MFY24
9MFY25
13.4%
6.0%
68.1%
80.6%
6.6%
29.8%
63.6%
•
•
Regulated Markets, contribute >63% of total revenue for 9M FY25 and will continue to remain the key focus market going forward.
Business model in the Emerging Markets is beginning to take shape. Share of Emerging markets has increased to ~30% for 9M FY25 is expected to grow and this segment steadily from here on
*Q3FY24 includes financials of Ratnatris Pharmaceuticals for only 17 days on account of the acquisition of a majority stake on 14th December 2023
4
Regulated Markets
Emerging Markets
Others
Q3 FY25 Key Operational Highlights
Regulated Markets
Emerging Markets
22
28
237
Owned Commercial Products
Pipeline CGT Opportunity Products
Approved Products
24
21
537
Approved ANDA’s
CDMO/CMO Commercial Products
Products Under Registration
51
69
40+
Pipeline Products
CDMO/CMO Pipeline Products
Countries Present
5
Key Financial Highlights – Q3 & 9M FY25*
Income up by 157%
Y-o-Y for 9MFY25
EBIDTA up by 287%
Y-o-Y for 9MFY25
PAT after MI up by 162%
Y-o-Y for 9MFY25
Income (INR Crs)
EBITDA (INR Crs) **
PAT after MI (INR Crs)
157.0%
288.1
35.2%
78.7
106.4
112.1
+286.9%
74.3
+91.8%
15.2
29.1
19.2
+162.4%
40.7
+142.3%
7.1
17.2
15.5
Q3FY24
Q3FY25
9MFY24
9MFY25
Q3FY24
Q3FY25
9MFY24
9MFY25
Q3FY24
Q3FY25
9MFY24
9MFY25
EBITDA Margin (%) **
PAT Margin after MI (%)
810 bps
870 bps
710 bps
27.3%
25.8%
19.2%
17.1%
30 bps
16.1%
13.8%
14.1%
9.0%
*Q3FY24 includes financials of Ratnatris Pharmaceuticals for only 17 days on account of the acquisition of a majority stake on 14th December 2023 ** EBITDA includes Other Operating Income but excludes non-operating income.
6
Q3FY24
Q3FY25
9MFY24
9MFY25
Q3FY24
Q3FY25
9MFY24
9MFY25
Q3 & 9M FY25 Profit & Loss Account *
Q3 FY25
Q3 FY24
Profit and Loss (INR Crs)
Revenue
Other Operating Income
Total Income
Total COGS
Gross Profit
Gross Margin (%)
Employee Cost
Other Expenses
EBITDA
EBITDA Margin (%)
Depreciation
Other Income
EBIT
Finance Cost
Profit before Tax
Tax + Minority Interest
Profit after Tax and Minority Interest
Profit after Tax and Minority Interest Margin (%)
EPS (INR)
103.0
3.4
106.4
40.7
65.7
61.7%
19.0
17.6
29.1
27.3%
4.2
1.8
26.6
6.2
20.5
3.3
17.2
16.1%
3.5
78.7
0.0
78.7
48.3
30.4
YoY
30.9%
35.2%
116.2%
38.6%
2,310 bps
8.2
7.1
15.1
19.2%
3.2
0.8
12.7
2.4
10.3
3.2
7.1
9.0%
4.0
91.8%
810 bps
109.7%
99.7%
142.2%
710 bps
9M FY25
9M FY24
284.0
4.1
288.1
123.3
164.9
57.2%
45.7
44.8
74.3
112.1
0.0
112.1
60.7
51.3
45.8%
17.2
14.9
19.2
25.8%
17.1%
11.6
3.4
66.1
16.2
49.9
9.2
40.7
14.1%
12.1
6.3
0.9
13.8
6.4
7.3
-8.2
15.5
13.8%
7.5
YoY
153.4%
157.0%
221.1%
1,140 bps
287.0%
870 bps
380.8%
580.2%
162.4%
30 bps
*Q3FY24 includes financials of Ratnatris Pharmaceuticals for only 17 days on account of the acquisition of a majority stake on 14th December 2023
7
Update on Utilization of Funds from IPO
Sr. No
Object as per Offer Document
Amount as proposed in the Offer Document
Amount utilized as on December 31, 2024
Amount Unutilized as on December 31, 2024
Remarks
1
2
3
4
5
6
7
8
Investment in one of our Subsidiaries, Havix, to fund capital expenditure requirements for setting up a manufacturing facility for the production of sterile injections in our Atlanta Facility
Re-payment/pre-payment, in full or in part, of certain borrowings availed by our Company
Investment in our Subsidiary, namely, Havix, for re- payment/pre-payment in full or in part, of certain borrowings availed by such Subsidiaries
Funding the working capital requirements of our Company
Investment in our Subsidiaries, namely, SPI to fund their working capital requirements
Investment in our Subsidiaries, namely Ratnatris to fund their working capital requirements
Funding inorganic growth through acquisition and other strategic initiatives and general corporate purposes
Offer expenses
Total
107.0
73.5
20.2
43.3
28.8
30.7
154.4
42.2
500.0
-
-
-
-
-
-
-
10.0
10.0
107.0
73.5
20.2
43.3
28.8
30.7
154.4
32.2
490.0
Out of the unutilized amount Rs 200 crores parked as Fixed Deposit with HDFC Bank, Rs 250 crores parked as Fixed Deposit with ICICI Bank and balance held in HDFC bank account
8
About Senores Pharmaceuticals Limited
Private & Confidential
Introduction to Senores Pharma
Brief Overview Global Research driven Formulation Focused company engaged in developing & manufacturing of pharmaceutical products predominantly for the Regulated Markets of the US, Canada & UK across various therapeutic areas
At a Glance
Niche Product Identification Company focusses on identification, development and commercialization of products
R&D Capabilities Identification, development & manufacturing of diverse range of specialty, underpenetrated & complex pharmaceutical products across therapeutic areas & dosage forms
Regulated Market Approved Facility 1 USFDA & DEA approved formulation facility in the US
Partnerships
Partnerships with leading pharmaceutical companies across Regulated as well as Emerging Markets
Regulated Markets
Emerging Markets
10
Business Segments
63.6%
29.8%
3.5%
Regulated Markets Business
Emerging Markets Business
API Business
Critical Care Injectables Business
Other Operating Income
Regulated Markets Business
Emerging Markets Business
Revenue INR 284 Crs For 9MFY25
Primarily serves the US, Canada and United Kingdom
USFDA approved facility in Atlanta, US
Develop & manufacture pharmaceutical products for the Emerging Markets
W H O - GMP approved facility at Chhatral
1.7%
1.5%
22 Commercialized Products
24 Approved ANDAs
51 Pipeline Products
28 Pipeline CG T Opportunity Products
Present in 40+ Countries
Approval for manufacturing facility from regulatory bodies of 10 countries
Product registration for 267 Products
Product applications filed for 537 Products
API Business
Critical Care Injectables Business
Manufacture APIs and caters to the domestic market and SAARC countries
Supply of critical care injectables across India to various hospitals through the distributors
Naroda facility compliant with Indian GMP
Field presence with 35 employees
Commercialized 16 APIs
Launched 55 Products
11
Key Events & Milestones
Incorporated as “Senores Pharmaceuticals Pvt. Ltd.” in India.
Incorporated a wholly owned subsidiary, Senores Pharmaceuticals Inc in the US
Consolidated presence in emerging markets by acquiring shares in Ratnatris Pharmaceuticals Pvt. Ltd.
2021
2017
2021
2021
2023
2023
2024
Entered into a new segment of API with acquisition of Ratnagene Lifescience Pvt. Ltd.1
Acquired majority stake in Havix, enhancing the ability to serve Regulated Markets through USFDA approved facility in US
Note: 1: Now merged with Senores Pharmaceuticals Limited with the appointed date being January 1, 2024
12
Successful Listing on Stock Exchanges in India on BSE & NSE
Key Strengths
Private & Confidential
Key Strengths of the Company
1 Distinct specialty and complex product portfolio built in a short span for Regulated
Markets
2 Long-term marketing arrangements with pharmaceutical companies in the Regulated
Markets
3 Presence in the Emerging Markets with portfolio, including specialty and complex
products
4 Strong R&D capabilities driving differentiated portfolio of products
5 US FDA approved facility in the US catering to the Regulated & Semi-Regulated Markets and WHO-GMP compliant facility in India catering to Emerging Markets
6 Professional & dedicated management teams for the diverse business verticals
14
1
Distinct Specialty & Complex Product Portfolio Built in a Short Span for Regulated Markets
Demonstrated Capability to propel Products from Conception to Commercialization
ANDA Products
Product Identification
Product Development
Commercial
Data Analysis – IQVIA, Symphony & Other Data
R&D to establish API Equivalency
Partner Finalization
Concurrent Process
Competitive Landscape
Formulation Development
Product Feasibility
BE Studies
2 - 3 Months
18-2 0 Months
C G T Applicability
Stability Testing
Dossier Compilation
1-2 Months
Filing
Approval
Launch
Immediate Post Compilation
10-15 months post filing
Immediately Post Approval
2nd Highest in terms of proportion of CGT Exclusivity amongst Peers
▪
▪
C G T is granted when FDA determines there is inadequate generic competition Exclusivity Period for 180 days o Competing Generic Versions of the drug cannot be marketed ▪ Allows to establish a foothold in the market ▪ Opportunity for Market Penetration & Revenue
Proportion of Ingredients with CGT Exclusivity
80.0%
75.0%
75.0%
75.0%
60.7%
52.6%
Growth Lower price erosion due to lesser competition
▪
Source: F&S Report Note: All the numbers are as of 30 t h September, 2024
Company 1
Company 3
Company 4
Company 5
Industry Average
15
2
Presence in Regulated Markets through Long -term marketing arrangements
MARKETED PRODUCTS
Business Model
CDMO / CMO
Business Model
Identify, Develop & Commercialize specialty & complex niche products in mid - market range
Customized formulation, development & manufacturing capabilities for customers
Revenue Model
In-Licensing Fee
Transfer Pricing
Profit Sharing
➢ Long-term Marketing & Distribution
Agreements
➢ Strength lies in taking a product from conceptualization to commercialization
➢ 22 Commercialized products
➢ 24 Approved ANDAs
Revenue Model
Tech Transfer/ Developmental Cost
Transfer Pricing
Service Income
➢ Partner with CDMO customers early in the drug development
process
➢ Recurring Revenue with Steady & Predictable Cash
Flows
➢ Contracts for more than 4 0 products in US, Canada, UK, South Africa, UAE, Israel, Denmark, Saudi Arabia & Vietnam. ➢ Eligible for manufacturing formulations having controlled
substances
➢ Complied for catering to government supplies in the US
Pharmaceutical companies increasingly favor partnering with one-stop-shop solution providers that seamlessly integrate both development and manufacturing services
16
3
Presence in the Emerging Markets with Portfolio Including Specialty and Complex Products
Special Focus
40+ Countries Marketed
804 Total Products
267 Product Registrations
537 Product Applications Filed
84 Commonwealth of Independent States
345 South East Asia
Niche & Specialty patented products in the US with early launch opportunity in Emerging Markets
Sugammadex
Ferric Carboxymaltose
7 0 | 14 Registered | Filed
68 | 277 Registered | Filed
Tofacitinib
132 Africa
239 LATAM
4 Middle East
Apixaban
Sacubitril + Valsartan
Eltrombopag Olamine
25 | 107 Registered | Filed
103 | 136 Registered | Filed
1 | 3
Registered | Filed
Diverse Business Models
P2P Model
Distributor Model
CDMO Model
Own Brands2
Philippines
Peru
Ghana
Nigeria
Myanmar
Guatemala
Kenya
Top Emerging Markets1
17
Partners to Global Pharmaceutical Companies in Regulated & Emerging Markets
18
Strong R&D Capabilities Driving Differentiated Product Portfolio
Oral Solids
ORS
Injectables
Oral Liquids
API
R&D Site 1 - USA
Identify
▪ In-House R&D in US
for Controlled Substances
R&D Site 2 - India
▪ Helps in dossier
preparation
▪ Submission of ANDA
applications
▪ Internal research ▪ Information available
on subscribed databases
Team
▪ 54 people ▪ 2 members having
doctoral qualifications
R&D Site 3 - India
Margin
Consolidating R&D activities at Ahmedabad. R&D Centre spread around 11,750 sq. ft.
The focus on R&D has allowed the company to maintain high profit margins compared to it’s industry peers
19
5
Accredited Manufacturing Facilities
Atlanta Facility
Facility
2 Manufacturing Lines
185,300 Sq. Ft. Total Area
OSD
1.2 Bn units Annual Installed Capacity1
Ahmedabad, Chhatral Facility
Strong Regulatory Track Record
USFDA Approved
4 USFDA, received no Form 483 & 8 Customer Audits
DEA Compliant
Eligible for Manufacturing Controlled Substances
BAA Compliant
Ability to caters to government supplies
General Oral Dosage
1397.96 Mn Annual Installed Capacity1
Injectables
49.92 Mn Annual Installed Capacity1
Facility Approvals
35,205 Sq. Mtr.
Total Area
12 Manufacturing Lines
4 Dosage Forms
Beta Lactum Orals
511.68 Mn Annual Installed Capacity1
20
Corporate Structure
Group holding company based in India Houses Domestic Critical Care Injectables business & API business
Senores Pharmaceuticals Inc. Marketing cum ANDA Holding Company
US based company holding ANDAs and mutually exclusive marketing relationships with customers
Havix Group Inc Caters to Regulated Market
Ratnatris Pharmaceuticals Pvt. Ltd. Caters to Emerging Market
Engaged in the Contract Development & Manufacturing of Generic Pharmaceutical Formulations for the US, Canada
Development, Manufacturing and Marketing of Generic Pharmaceutical Formulations
100% Subsidiary
66.58%1 Subsidiary
69% Subsidiary
Note 1 : 49.91% held by the holding company & 16.66% held by it’s wholly owned subsidiary company named Senores Pharmaceuticals Inc
21
6
Professional and Dedicated Management Team
Swapnil Jatinbhai Shah Promoter & Managing Director
Sanjay Shaileshbhai Majmudar Chairman & Non-Executive, Non- Independent Director
Deval Rajnikant Shah Whole-Time Director & CFO
▪ 16+ years of experience in the pharma sector
▪ 39+ years of experience
▪ Part of the core management team & leads
overall company functions: product portfolio, corporate strategy, business development, strategic management
▪ Director on the board of AIA Engineering Ltd., Ashima Ltd., M&B Engineering Ltd. & Welcast Steels Ltd.
▪ 4 0 + years of experience in Pharma,
Engineering & Chartered Accountancy
▪ Previously associated with SAI Consulting
Engineers Pvt. Ltd. as CFO
Chetan Bipinchandra Shah Whole-Time Director & C O O
Jitendra Babulal Sanghvi Non-Executive, Non-Independent Director
Ashokkumar Vijaysinh Barot Promoter, Non-Executive, Non- Independent Director
Deepak Jain Vice President Regulatory Affairs
▪ 24+ years of experience in Pharma
▪ 15+ years of experience
▪ 21+ years of Pharmaceutical experience
▪ 11+ years of Pharmaceutical experience
▪ Previously associated with Torrent Pharma
▪ Director of Ratnaris Pharma since Aug 11, 2 0 0 9
& Cadila Pharma. Also associated with Reliance Retail Ltd., Reliance Fresh Ltd. & Reliance Corporate IT Park Ltd.
▪ Conferred with “Young Pharma Entrepreneur of
the Year” award in 2013
▪ Non-Executive Director on the board of Di-Cal Pharma Pvt. Ltd. Since Nov 6, 2008. Registered pharmacist with the state pharmacy council of Gujarat
▪ Previously Associated with Cadila Healthcare Ltd.. As Deputy General Manager
22
Growth Strategies
Private & Confidential
Key Strategies
Inorganic growth through synergistic acquisitions
Significantly enhance market presence in North America & other Regulated Markets
Integrated approach by enhancing capabilities for backward integration
Launch products with the potential of NDA approval in the US
Strategic alliance for CMO/CDMO in Regulated Markets
Expanding into new Regulated & Emerging Markets
24
Enhance Market Presence of Marketed Products in North America and Other Regulated Markets
US accounts for 43% of the global pharma market, 56% of the regulated market & 91% of North America Market
Persistent drug shortage calls for an increased supply of generic drugs
Global pharma market by classification (2023, USD bn)
US pharma market size (USD bn)
Number of new drug shortages
7.3%
160
156
114
Regulated
Emerging
23.0%
77.0%
25.3%
12.8%
61.9%1
711.0
1,010.0
Asia
EU
North America
2023
2028F
2021
2022
2023
Enhance market presence in North America along with the partners
✓
Launch generic products with the potential of NDA approval in the US
✓ Set up niche sterile injectables manufacturing facility in the US
✓ Inorganic growth through synergistic acquisitions
Source: F&S Report Note: 1: Pharma market value for North America is USD 778.8 bn, Europe is USD 318.5 bn & Asia is USD 161.3 bn
25
Entering into Strategic Alliance for CMO/CDMO in Regulated Markets
CDMO market growing faster than the pharma market which is growing at 7.7%
US CDMO/CMO market (USD bn)
7.7%
6.8%
32.1
44.7
64.8
2018
2023
2028F
Growth propellers
Growing drug complexity
Rapid technological turnaround
Upcoming loss of exclusivity for drugs
Business model shift from Capex to Opex
Expected Increase in average outsourcing penetration
US accounts for 4 0 - 45% of CD M O markets
Source: F&S Report
Strategic alliance for CMO/CDMO in Regulated Markets
The dependence on CDMO/CMO’s has increased as they offer
Appended Manufacturing Capacity
Mitigate investments, production & supply risk
A c c e ss to new Markets
Bring Technological Overhaul
Eligible for Manufacturing Controlled Substances
Complied to cater to Government Supplies
Offering benefits such as
Focus on core competencies
Co st Advantages
Early to Market advantage
Flexibility & Scalability
A c c e ss to global talent & advanced technologies
26
Expanding into New Regulated & Emerging Markets
Regulated & Emerging markets witnessing strong growth
Global pharma market by classification (USD bn)
Emerging pharma market by Product (2028F)
Regulated pharma market by Product (2028F)
Regulated
Emerging
Innovator
Generic
Generic
Innovator
376.3
1,258.7
2023
541.0
1,710.0
2028F
300.9
240.1
1,423.1
286.8
Expanding into New Regulated & Emerging Markets
Focus on niche and complex range of products with higher margin profile
Leverage presence in Regulated Markets, to increase reach in Semi Regulated Markets
Tapping into new mid-tier markets such as Brazil, Australia & New Zealand
Leveraging knowledge of Emerging markets to manufacture more products by setting up new facilities
Opportunities for registering & marketing value added niche formulations in Emerging Markets: Philippines, Uzbekistan, Peru, Ghana, Tanzania, Kenya, Libya and Guatemala
Multiple marketing and distribution models to enhance presence in Emerging market countries
Source: F&S Report
27
Enhancing Capabilities for Backward Integration
Indian API export market to grow at a CAGR of 8.4%
Pursuing an integrated approach for greater backward integration
API exports (USD bn)
CAGR: 8.4%
7.1
2028F
4.7
2023
Urology
CNS
Alpha Blocker
Anti-Psychotic
Anticonvulsants
Infertility
Cardiovascular
15 APIs across 11 Therapeutic Areas
Antihistamine
Proposed Expansion Plans
Setup Greenfield unit - Increase API manufacturing capacity from 25 MTPA to 169 MTPA
Manufacture API for Regulated and Semi-Regulated markets
Benefits of API manufacturing capabilities
Supply Chain Control
Cost Savings
Quality Assurance
Flexibility & Innovation
Reduced Time to Market
Anti-Inflammatory
Anti-depressant
Oncology
Competitive Advantage
Diversified revenue stream & business resiliance
Backward integration into API manufacturing reduces reliance on third-party vendors & enhances market competitiveness
Source: F&S Report
28
Industry Overview
Private & Confidential
Global Pharma Market
Global pharma market is expected to grow at 6.6% from 2023-28…
…regulated market will continue to dominate the global pharma market
US continues to exert influence on Global pharma market
Global pharma market by product type (USD bn)
Global pharma market by region (USD bn)
Share in global pharma market by region (2028F)
1,635.0
410.3
1,224.7
2,251.0
527.0
1,724.0
1,635.0
376.3
1,258.7
2,251.0
541.0
1,710.0
2023 Innova tor
Generic
2028F
2023 Regulated
2028F
Emergin
g
37.9
471.8
1,010.0
514.5
216.9
US
China
EU
India
RoW
Aging Population
Investments in R&D
Population of people over 6 0 expected to double and reach ~2.1 Bn by 2050, increasing age related conditions
Increasing incidences of chronic diseases
~ 1 in 3 adults have multiple chronic conditions, requiring lifelong use of drugs, with co sts estimated to reach USD 47 tn by 2 0 3 0
Growth Drivers
R&D investments drive market growth by discovering breakthrough treatments for prevalent and emerging diseases by expanding therapeutic segments
Consumer awareness
P o st-C OVID - 19, the O T C segment grew massively due to heightened consumer awareness about health, wellness, and preventive care
Demand from developing nations
Rising instances of chronic conditions and persistent burden of infectious diseases drive dual demand
Source: F&S Report
30
Regulated Pharma Market
Regulated markets to dominate the global pharmaceutical sector, driven by their access to a growing innovative drug market & a thriving generics market
Regulated markets constitute 77% of the global pharmaceutical sector (2023) Global pharma market by classification (USD bn)
North America accounts for 62% of regulated pharma market (2023)
New generics and patent expirations to drive drug market growth
Regulated pharma market by region (USD bn)
Regulated pharma market by product type (USD bn)
1,635.0
376.3
1,258.7
2,251.0
541.0
1,710.0
2023
2028F
Regulated
Emerging
1,258.7
778.8
318.5 161.3
2023
6.8%
Asia
EU
1,710.0
1,085.5
400.3
224.1
2028F North America
1,258.7
234.4
1,024.3
1,710.0
286.8
1,423.1
2023
2028F
Innovator
Generic
US accounts for 43% of the global pharma market, 56% of the regulated market and 91% of North American market (2023)
US Pharma Market size (USD bn)
Characteristics of US healthcare market
7.3%
1,010.0
711.0
High quality standards impose entry barriers
Very high healthcare expenditure per capita
OAI
483s
349
8 0
215
124
466
162
510
142
2020
2021
2022
2023
Healthcare expenditure per capita (USD)
USA
C C A
12,555
6,512
Persistent drug shortage calls for an increased supply of generic drugs
Number of new drug shortages 160
156
114
Increasing generic adoption to navigate high healthcare costs
US Generics market (USD bn)
89
92
96
114
2023
2028F
2021
2022
2023
2021
2022
2023
2028F
Growing drug demand with a simultaneous need to control costs has increased import dependence, particularly from India
Source: F&S Report CCA: Comparable Country Average, OAI: Official Action Indicated
31
Emerging Pharma Market
Emerging pharma market
Overview of India pharma market
Emerging markets to outpace developed ones…
Emerging pharma market size (USD bn)
IPM is amongst the fastest growing in the world…
Indian pharma market size (USD bn)
Oral solids will dominate IPM
Indian pharma market by dosage (2028F, USD bn)
7.5%
9.7%
376.3
2023
541.0
2028F
… driven by population growth, expanding disease burden, & investments in healthcare & infrastructure
Emerging pharma market size by region (USD bn)
36.0
74.7 41.4
168.6
2023
51.2
112.0
56.1
238.1
2028F
Asia
Europe
Latin America Middle East and Africa
Source: F&S Report
23.8
2023
37.9
2028F
…dominated by generic drugs constituting ~96% of drug consumption Indian generic pharma market size (USD bn)
9.8%
22.9
2023
36.6
2028F
6.9
4.7
Oral Solids
Injectibles
Others
26.3
Growth Drivers
Insurance penetration
Increase in chronic patient population
Availability of affordable & innovative generics
Drug access focused government schemes
Growth in hospital business segment
✓
✓
✓
✓
✓
32
SENORES PHARMACEUTICALS LIMITED CONTACT US
Senores Pharmaceuticals Limited
CIN: U24290GJ2017PLC100263
Mr. Deval Shah
investors@senorespharma.com
Strategic Growth Advisors Private Limited
CIN: U74140MH2010PTC204285
Mr. Sagar Shroff / Mr. Tanay Shah sagar.shroff@sgapl.net / tanay.shah@sgapl.net +91 98205 19303 / +91 98333 91899