Wockhardt Limited has informed the Exchange about Investor Presentation
Ref. No.: WOCK/SEC/SE/2025-26/013
5th June, 2025
BSE Limited Corporate Relations Department P J Towers Dalal Street Mumbai - 400 001 Scrip Code: 532300
National Stock Exchange of India Limited Exchange Plaza Bandra Kurla Complex Bandra (E) Mumbai - 400 051 NSE Symbol: WOCKPHARMA
Dear Sir/ Madam,
Subject: Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended – Investor Presentation
Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended and in continuation to our letter bearing reference no. Ref. No.: WOCK/SEC/SE/2025-26/012 dated 2nd June, 2025, please find enclosed herewith a copy of the Investor Presentation to be made at the Investor Meeting scheduled to be held on 5th June, 2025.
The said Investor Presentation will also be uploaded on the Company’s website and can be accessed through the following link:
https://www.wockhardt.com/investors/analyst-investors/presentation/
Kindly take the same on record please.
Thanking you,
For Wockhardt Limited
Rashmi Mamtura Company Secretary
Encls: as above
Investor Presentation June 2025
Disclaimer
This presentation contains “forward-looking statements” – that is, statements that relate to future, not past events or historical facts. All
forward-looking statements are based on judgments derived from the information available to the company at this time. Forward-looking
statements can be identified by terminology such as such as “potential,” “expected,” “will,” “planned,” or similar terms. Forward looking
statements are based on the current beliefs and expectations of Wockhardt regarding future events, and are subject to various risks and
uncertainties, many of which are difficult to predict. Actual results may differ materially from anticipated results. Such risks and
uncertainties include, but are not limited to, challenges to intellectual property, competition from other products, difficulties inherent in the
research and development process, adverse litigation or government action, and changes to laws and regulations applicable to our
industry. We do not undertake any obligation to update any forward-looking statement in this presentation, whether as a result of changes
in underlying factors, new information, future events or otherwise. The information in this document have been collected with the purpose
to provide interested parties with information about Wockhardt. The information is not comprehensive or complete and thus does not
represent an adequate basis for a final decision about an investment.
Information contained in this document is to be used for the sole
purpose of evaluating potential strategic transactions or partnerships and cannot be used for any other purpose without specific written
and prior approval of Wockhardt. The presentation may not be copied, duplicated or transferred to third parties without the prior written
approval of Wockhardt.
Information contained in this document is to be used for the sole purpose of evaluating potential strategic transactions or partnerships and
cannot be used for any other purpose without specific written and prior approval
2
Global Research - driven multinational
INR 3,033 Cr.
FY25 Income
INR 418 Cr.
FY25 EBITDA
Novel Antibiotics
Biotechnology
Pharmaceuticals
3
Global Footprint
FY25 sales contribution (%)
12 manufacturing facilities across globe
2 R&D centers one each in India, UK
UK
India
Emerging Markets
Ireland (& other EU)
39%
23%
23%
12%
4
Stronger business performance
67% Y-o-Y EBITDA growth1
0.01 Net Debt : Equity ratio2
20% growth for biosimilars in emerging markets3
INR 326 Cr. Reduction in debt4
1. 2. 3. 4.
Growth in FY25 over FY24 As on 31st March 2025, excluding promoter debt & net of cash & cash equivalents and other bank balances (Net Debt: INR 64 Cr ; Equity: INR 4,657 Cr.) Growth in FY25 over FY24 As at 31st March 2025 vs 31st March 2024 (excluding promoter debt)
5
Key positives for FY24-25: Development milestones
ZAYNICH® (WCK 5222)
Successful completion of global Phase III cUTI study with 20% superiority Phase II Carbapenem-Resistant Organism study with >90% clinical efficacy NDA filed with DCGI, India Compassionate use: 51 lives saved
MIQNAF® (Nafithromycin)
Approved & Launched in India Grant of Breakthrough Medicinal Product (BMP) by Saudi Arabia
ODRATE® (WCK 6777)
FOVISCU® (WCK 4282)
EMROK® / EMROK O®
Completion of Phase I clinical study in collaboration with NIH, USA
Completion of Phase II clinical study
Emrok treated >100k patients cumulatively;
Launched in other divisions for additional indications
Insulin Aspart
Filed for marketing approval to DCGI, India
6
Key positives for FY24-25
Sales Growth
Operational Excellence Cost reductions & Achievements
Emerging Markets
10%
Manufacturing Re-structuring - External to Internal
India Branded Business
UK
Biotech New Business
4%
8%
Energy cost reduction initiative activated
~$30 Mn
Wastage reduced from last year
Capital raise of INR 1,000 Cr. through QIP
7
Financial Highlight: 67% EBITDA growth1
Total Income1 in INR Cr.
EBITDA1 in INR Cr.
5% growth1
67% growth1
2,879
3,033
251
FY24
FY25
EBITDA Margin
FY24
9%
1.
FY25 vs FY24, excluding exchange rate fluctuations
418
FY25
14%
8
Net Debt : Equity @ 0.011
Equity INR Cr.
Net Debt1 INR Cr.
Debt Reduction by INR 397 Cr.1
4,202
3,662
3,662
4,657
882
975
461
64
As at
31st Mar'22
31st Mar'23
31st Mar'24
31st Mar'25
As at
31st Mar'22
31st Mar'23
31st Mar'24
31st Mar'25
Cash & Cash Equivalents and other Bank Balances INR Cr.
Net Debt-Equity Ratio1
406
124
544
615
0.21
0.27
0.13
0.01
As at
31st Mar'22
31st Mar'23
31st Mar'24
31st Mar'25
As at
31st Mar'22
31st Mar'23
31st Mar'24
31st Mar'25
1.
As at 31st March 2025, excluding promoter debt & net of cash & cash equivalents and other bank balances (Net Debt: INR 64 Cr.; Equity: INR 4,657 Cr.)
9
Short-term and Mid-term growth drivers
3 years growth drivers
5 years growth drivers
Diabetes Biosimilars for India + Emerging markets
Glargine, Insulin Analogues,
Human Insulin
New Insulin Analogues,
GLP-1 Analogues
Zaynich® (WCK 5222),
Miqnaf® (Nafithromycin),
Novel drug discovery
Emrok® & Emrok O®
Foviscu® (WCK 4282),
Odrate® (WCK 6777)
10
New Chemical Entity (Novel Antibiotics)
Wockhardt drug discovery efforts focused on the antibiotics segment
~145
~25 years
Drug Discovery team with more than 50 PhD’s.
Focused commitment to Novel Antibiotics research leading to end-to- end Discovery & Development capabilities
6
Programs granted QIDP* status by US FDA denoting unmet needs; abridged trials, faster review and approvals by US FDA
* Qualified Infectious Disease Product (QIDP) status granted by US FDA eligible for fast track development process and priority review. QIDP status also grants five year extension to the
market exclusivity in the United States
12
Novel Antibiotics pipeline encompassing all the Resistant Organisms
Gram Negative Portfolio
Gram Positive Portfolio
ZAYNICH® (WCK 5222)
FOVISCU® (WCK 4282)
ODRATE® (WCK 6777)
EMROK® / EMROK O®
MIQNAF® (Nafithromycin)
Status
Global Phase III Completed
Carbapenem resistant pathogen study (India) completed
Phase III ongoing
Phase I Completed In collaboration with NIH (US)
Launched in India; Filed in Emerging Markets
Launched in India
Potential Indication
cUTI, HABP / VABP (Global) + Carbapenem Resistant infections (India)
cUTI HABP / VABP
cUTI
ABSSSI
CABP / RTI
Target Market
Global
Global
Global
Emerging Market
Emerging Market
Positioning
Destination therapy for difficult-to-treat Gram-ve Klebsiella, Acinetobacter and Pseudomonas
Empiric-use; Carbapenem- sparing Gram-ve
Out-patient therapy for MDR Gram -ve
MDR Gram+ve Anti-MRSA
Macrolide-resistant Respiratory Pathogens, Quinolone-Sparing
13
ZAYNICH® (WCK 5222)
Establishing ꞵ-lactam enhancer - a new class of antibiotic to treat MDR/XDR Gram-negative infections
ZAYNICH® (WCK 5222): New class of antibiotic after >30 years to treat Gram-negative infections Global Phase III clinical study completed
Global Phase III clinical study: achieved 20% higher (statistically superior) composite cure over gold standard Meropenem
Phase II Carbapenem-Resistance Organism study completed with >90% clinical efficacy
Saved 51 lives so far in compassionate usage including 3 in USA Patients had failed all available therapies: Penems, Ceftazidime+Avibactam, Cefiderocol, Colistin/Polymyxins; Safety established through extensive usage
Only product granted with investigational breakpoint of 64 mg/L for all major gram-negative pathogens by CLSI, USA
CLSI: Clinical and Laboratory Standards Institute
15
ZAYNICH® (WCK 5222) Regulatory status
India: Filed to DCGI* Approval / launch expected in H2 FY25-26.
US: Pre-NDA meeting completed with US FDA in May 2025 Filing to the US FDA in Q2 FY 25-26 with potential launch in FY26- 27
Europe & Emerging markets: Filing in H2 FY26
DCGI: Drug Controller General of India; Apex regulatory authority in India for granting approvals
16
Addressable pool of ~2 million patients in select markets for ZAYNICH® (WCK 5222)
Europe
~213Kc patients
USA
~158c patients
China
~657Ka patients
India
~1,109Kb patients
Excluding: Rest of World, Japan & Russia
a) b) c)
China : Adapted and derived using China incidence/epidemiology papers & CHINET China Bacterial Drug Resistance Surveillance Results (January-December 2022) India: Adapted and derived using India incidence studies and ICMR Anti Microbial Resistance Research & Surveillance Network 2022 US & Europe: Adapted and derived using epidemiology data and carbapenem resistance to key pathogens
17
~1.1 Million cases in India addressable by ZAYNICH® (WCK 5222) for key indications
Total cases*
~2.2 -3.1 Mn
Carbapenem resistance %
Carbapenem Resistance cases
~1.4 -2.0 Mn
Cases not treated by newer treatment options
Addressable cases for ZaynichTM
~1,109K
Acinetobacter B. ~0.5-0.7 Mn
Pseudomonas A.
~0.6-0.8 Mn
K. Pneumonia
~0.6-1.0 Mn
94%
51%
70%
E. Coli
~0.4-0.6 Mn
40%
~0.5-0.6 Mn
100%
~0.3-0.4 Mn
91%
~0.4-0.7 Mn
~0.2 Mn
10%
78%
~0.56 Mn
~0.34 Mn
~0.06 Mn
~0.16 Mn
• •
Excludes Complicated Urinary Tract Infection patients due to available treatment options – select patients would be available as addressable patient pool for WCK 5222, which would be an upside Patient population derived on basis of ICMR AMR Report 2022 & other epidemiology data sources.
18
ZAYNICH® (WCK 5222) addressable market in India
Total cases affected by Key Pathogens (E.coli, Klebsiella P., Pseudomonas A., Acinetobacter B)
~2.2 -3.1 Mn
Carbapenem Resistance cases for key pathogens
~1.4 -2.0 Mn
Carbapenem resistance cases not treated by newer therapy options and addressable by WCK 5222
~1.1 Mn
Addressable market potential (INR Cr.)
~INR 17K Crores
19
WCK 5222 addressable market opportunity of ~US$ 7 billion in USA and Europe
Addresses major Gram-negative infections cUTI, HABP/VABP, BSI, cIAI, indications
Pathogen coverage includes: Carbapenem resistant Acinetobacter B (CRAB), Carbapenem resistant Enterobacterales (CRE), Carbapenem resistant Pseudomonas A (CRPA) & Carbapenem resistant Stenotrophomonas including MBL producers
~371K carbapenem resistant cases in US & Europe ~4.3 million hospitalized cases for key gram-negative pathogens
New class antibiotic WCK 5222 offers addressable market opportunity of ~US$ 7 billion in USA & Europe
20
MIQNAF® (Nafithromycin) Next generation respiratory tract infection antibiotic
Wockhardt has ended a wait of > 30 years for a new antibiotic in Macrolide class with approval and launch of Miqnaf® (Nafithromycin)
22
MIQNAF® (Nafithromycin): Broad spectrum novel lactone ketolide for Community Acquired Bacterial Pneumonia (CABP) & Upper Respiratory tract infections(RTI)
Increasing resistance and incomplete coverage for current treatment options: − Macrolides (Azithromycin, Erythromycin) resistance in S. Pneumonia of ~65% in India − Lack of atypical pathogen coverage by Amoxicillin/Clavulanic acid
Nafithromycin has broad spectrum (covers entire range of gram +ve, gram -ve & atypicals) enabling monotherapy; effective against Azithromycin resistant strains / multi-drug resistance bacteria with 100% coverage based on high lung concentrations
Best-in-class Lung concentration (Human lung exposure 8 times higher than Azithromycin) allowing for Ultra short duration therapy (3 day) with once-a-day dosing
Successfully completed phase III study with 96.77 % of cure rate in CABP and other respiratory infections, with safety profile commensurate with community usage
India Marketing approval granted and launched QIDP status granted by USFDA indicating significant unmet need Breakthrough Medicinal Product (BMP) designation granted in Saudi Arabia; NDA filed
23
MIQNAF® (Nafithromycin) outperforms current CABP 1st line treatment options in terms of efficacy, treatment options and safety
Resistance (%) in S. Pneumoniae + H. Influenza
k r a M %
e Indian market size at generic prices (INR Cr.)* z s
i
t e
Days of Therapy (Mn) #
y Efficacy for macrolide-, t i v i t c a
penicillin- & quinolone-resistant S. pneumoniae
Efficacy for atypical RTI1 pathogens
l
a i r e t c a b - i t n A
t n e m t a e r T
s n o i t p o
/ y t e f a S
e s r e v d a
s t n e v e
Coverage of MDR H. influenzae
Prevalence of resistance
3-day therapy potential
Lung concentration for resistant strains
Pediatric use potential
Hepatic safety
Drug-drug interaction potential
C. difficile diarrhoea potential
Macrolide
Macrolide
Penicillin
Cephalosporin
MIQNAF® (Nafithromycin)
Azithromycin
Clarithromycin
Amoxicillin + Clavulanic acid
Cefixime / Cefpodoxime
0%
NA
NA
Yes
Yes
Yes
MOA driven low propensity
Yes
High
Yes
Yes
No
No
Up to 65%
Up to 65%
1,078
526
No
Yes
No
High
Yes
Low
Yes
Yes
No
No
145
20
No
Yes
No
High
No
Low
Yes
Moderate
Moderate
No
11%
2,272
260
No
No
No
High
No
Low
Yes
Yes
No
Yes
Up to 42%
1,736
419
No
No
No
High
No
Low
Yes
Yes
No
Yes
P Patent protection
I
Assured
Expired
Expired
Expired
Expired
*Source: IQVIA
# Derived from IQVIA
24
MIQNAF® (Nafithromycin): Addressable market in India
01
02
03
RTI is one of the leading Rx category in India with ~367 Mn Rx
• •
62 Million Lower Respiratory Tract Infection Rx 305 Million Upper Respiratory Tract Infection Rx
Antibiotics market size for Respiratory Tract Infection (RTI) in India (at current generic prices) is ~INR 6,500 Cr.
Miqnaf® is targetting 96 Mn* Rx segment of relevant doctor specialities, with addressable market opportunity of ~INR 10,800 Cr.
* does not include potential upside of Rx by GP
25
Biotechnology
Competitive advantage in Diabetes Biosimilars: Integrated capabilities from lab to patient
R&D Capabilities:
1
• Yeast, Bacterial & Mammalian expression • Focused only on Diabetes segment - Insulin, Insulin Analogues • Product development, process development, analytical development &
analytical bio similarity
2
Drug Substance (DS) manufacturing • DS facility with 4 blocks for different expression systems using E. coli, mammalian and yeast
Commercialization model
India
• Through own field force for promotion to Diabetologists/ Endocrinologists
Emerging Market
• Through partners / distributors in >30
countries
Integrated capabilities
3
Drug Product (DP) manufacturing • Flexibility of drug product manufacturing at India
facility (2 sites)
4
Devices • Patented delivery devices (Disposable & Re-usable)
Patented delivery devices (pen)
Vials
Cartridges
27
Diabetes Biosimilars for Emerging markets - Competitive scenario
1
Limited competition
6-7
players
2
Registered in emerging markets
3
4
Competitive scenario
Manufacturing infrastructure ready
Integrated end to end capabilities
5
Focus on Human Insulin & Glargine
>30
markets
Drug substance + Products
Development to marketing
> US$ 1.5 Billion market
6
Pipeline: Aspart R (filed in India) & Aspart Mix
~ US$ 700 Million market
28
Significant opportunity opening up in Human Insulin due to changing market dynamics
Novo Nordisk intends to discontinue its Human disposable insulin pens and cartridges.
Change in market dynamics
Initiative to increase production of GLP-1 analogues
~INR 450 Cr.
• Novo Nordisk's phase-out of Human Insulin cartridges and dispopen provides an
opportunity worth ~INR 450 Cr. In India
• Only 3 key players including Wockhardt to benefit from this opportunity
Emerging Markets*
~US$ 157 Mn
• Novo Nordisk's phase-out of Human Insulin cartridges and dispopen provides an
opportunity worth ~US $157 Mn in Emerging markets
Wockhardt's strong position in Insulin will enable to capitalize this opportunity
*Emerging markets: excluding China & India
29
Comprehensive antidiabetic biosimilars pipeline across Human Insulin & Insulin analogs targeting India and Emerging Markets
1
Recombinant Human Insulin
2
Glargine 100 IU
Commercialized Products
Product Pipeline
Aspart R
Aspart 30/70
Lispro R
Process development
Process Scale Up
Drug substance validation batches
Drug product validation batches
PK/PD study
Analytical similarity
✓
✓
✓
✓
✓
✓
✓ Completed * To be further scaled up
✓
✓
✓
✓
Planned
✓
✓*
✓*
Planned
30
Strategic growth levers
Robust Business performance driven by operational leverage
Novel Antibiotic Portfolio : Best-in-class portfolio across infection spectrum targeting high value global markets
Zaynich: A Breakthrough innovation − Life-saving innovation for gram negative infections − TAM of ~US$ 9 bn in US, Europe and India
Miqnaf: Oral Antibiotic for RTI − New antibiotic in Macrolide class after > 30 years − TAM of ~INR 10,800 Cr. in India
Diabetes Biosimilars − Uniquely positioned diabetes portfolio (EM market size of US$ 3 bn) with end-to-end capabilities − Doubling capacity in next 3 years to tap growing demand that would help business to grow at 20-25%
TAM: Total Addressable Market
31
Abbreviations
®: Registered ~: Approximate A.baumannii: Acinetobacter baumannii ABSSSI: Acute bacterial skin and skin structure infections AmpC: Ampicillin-resistance gene group C AMR: Anti Microbial Resistance ꞵ-lactam: Beta Lactam Bn: Billion BSI: Blood Stream infection CABP: Community-acquired bacterial pneumonia CAZ/AVI: Ceftazidime-avibactam CDSCO: Central Drugs Standard Control Organization cIAI: Complicated Intra-abdominal Infections CLSI: Clinical & Laboratory Standards Institute, USA Cr.: Crore CRAB: Carbapenem-Resistant Acinetobacter baumannii cUTI : Complicated urinary tract infections EBITDA : Earnings before interest, taxes, depreciation, and amortization
E.coli: Escherichia coli EU: European Opinion Gram –ve: Gram negative Gram +ve: Gram positive HABP: Hospital Acquired Bacterial Pneumonia ICMR: Indian Council of Medical Research ICU: Intensive care unit IND: Investigational New Drug INR: Indian rupee IU – International Unit IV: Intravenous K Pneumoniae :Klebsiella pneumoniae KPC: Klebsiella pneumoniae carbapenemase MBL: Metallo-beta-lactamase MDR: Multidrug resistance MDR/XDR: Multi Drug Resistant/ Extremely drug resistant Mn – Million MOA: Mechanism of Action MOH – Ministry of Health MRSA: Methicillin-resistant Staphylococcus aureus
NCE: New chemical entity NDA: New Drug Application NIH: National Institute of Health PhD: Doctor of Philosophy PK: Pharmacokinetics PK/PD – Pharmacokinetics/Pharmacodynamics QIDP: Qualified Infectious Disease Product R&D: Research and Development RTI: Respiratory Tract Infection S. maltophilia : Stenotrophomonas maltophilia TID: Thrice a day UK: United Kingdom US: United States US-FDA: United Stated Food and Drug Administration VABP: Ventilator Acquired Bacterial Pneumonia WHO: World Health Organization Y-o-Y: Year-over-year
32
Thank you