Sun Pharmaceutical Industries Limited
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Key numbers — 40 extracted
18%
14%
Rs 520
33%
rs
4
31%
19%
16%
21%
24%
73.1%
75.4%
Guidance — 12 items
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“22 US business: revenue progression Sales in Rs Bn 162 153 135 114 101 FY21 FY22 FY23 FY24 FY25 23 ANDA & NDA pipeline ANDAs filed and approved (cumulative) NDA filed and approved (cumulative) 605 616 635 659 665 512 519 531 542 548 67 67 54 54 65 51 70 71 57 57 FY22 FY23 FY24 FY25 H1FY26 FY22 FY23 FY24 FY25 H1FY26 Cumulative products filed Cumulative products approved Cumulative products filed Cumulative products approved © Sun Pharmaceutical Industries Limited.”
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“(All data as of 30-Sept-2025) 24 India Business 33% of FY25 Revenues © Sun Pharmaceutical Industries Limited.”
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“27 Source: AIOCD AWACS MAT Sept 2025 India: revenue progression Sales in Rs Bn Therapeutic breadth** 169 149 136 128 103 FY21 FY22 FY23 FY24 FY25 Others 3% Urology 3% Opthalmology 3% Neuro-Psychiatry 19% Dermatology 4% Gynaecology 4% Vitamins / Minerals / Nutrients 5% Respiratory 5% Anti-Infectives 6% Pain / Analgesics 7% Market Share 8.3% Cardiology 17% Diabetology 9% Gastroenterology 14% ** As per AIOCD AWACS MAT Sept 2025 © Sun Pharmaceutical Industries Limited.”
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“of medical representatives Sales per representative (Rs mn) 30 Emerging Markets 18% of FY25 Revenues © Sun Pharmaceutical Industries Limited.”
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“32 Rest of World (Western Europe, Canada, Japan, ANZ, Israel & other markets) 14% of FY25 Revenues © Sun Pharmaceutical Industries Limited.”
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“Strong brand equity Strong brand equity in 4 countries Sales force Promoted through dedicated sales force in each market Strong positioning Amongst top 10 consumer healthcare companies in India, Romania, Nigeria & Myanmar 36 Active Pharmaceutical Ingredients (API) 4% of FY25 Revenues © Sun Pharmaceutical Industries Limited.”
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“39 Research & Development Cumulative R&D spend of ~Rs 320 Bn to date R&D spend R&D spend at 6.2% of sales for FY25 Innovative Medicines R&D Global development capabilities incl.”
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“40 R&D investments R&D investments Filings and approvals 6.5% 5.8% 5.5% 6.7% 6.2% ANDA NDA/BLA DMF/CEP Patents** 21.5 22.2 23.7 31.8 32.5 665 71 548 532 3,263 57 402 2,499 FY21 FY22 FY23 FY24 FY25 Filed Approved Filed Approved Filed Approved Filed Granted R&D investments (Rs Bn) R&D investments (% of sales) © Sun Pharmaceutical Industries Limited.”
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“# FY25 - Adjusted for Rs 10.6 Bn provision related to (i) Opioid settlement = Rs 3,162 mn (ii) Concert Restructuring =Rs 440 mn (iii) Taro Restructuring =Rs 580 mn (iv) Investment in Lyndra =Rs 2,597 mn (v) Deferred tax adjustments =Rs 3,775 mn © Sun Pharmaceutical Industries Limited.”
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“48 EBITDA trend In Rs Bn Sales 332 384 433 478 520 26.1% 26.9% 20.6% 19.0% % of Sales 24.6% 19.2% 28.5% 25.3% FY21 28.0% 30.4% 26.9% FY22 26.5% FY23 22.3% 19.7% 32.3% 26.9% FY24 20.7% 19.2% 32.2% 29.0% FY25 EBITDA Other Expenditure Personnel Costs Material Costs © Sun Pharmaceutical Industries Limited.”
Risks & concerns — 1 flagged
• In clinical trials, XELPROS demonstrated reductions from baseline in intraocular pressure (IOP) in patients with open-angle glaucoma or ocular hypertension8 • Current Markets: US All brand names and trademarks are the property of their respective owners © Sun Pharmaceutical Industries Limited.
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(1) As of Dec 18, 2025, using spot exchange rate of INR /USD = 90.28 # Includes Western Europe, Canada, Japan, Australia & New Zealand, Israel and other markets. * Source: IQVIA data for 12 months ended Sept 2025 © Sun Pharmaceutical Industries Limited. All Rights Reserved. 10 Driving sustainable long term growth • Achieve critical mass in key markets • Embed sustainability practices in business • Actionable targets on sustainability Sustainable growth • Optimize operational costs • Leverage benefits of vertically integrated operations t s o C i p h s r e d a e l i n v e s t m e n t s p r o f i t a b i l i t y & l B a a n c e Business development • Increase contribution of Innovative and complex products • Direct future investments towards differentiated products • Use acquisitions to bridge gaps while yielding target ROI • Focus on access to novel products, technology or market presence © Sun Pharmaceutical Industries Limited. All Rights Reserved. 11 ESG Performance - FY 2024-25 Envir
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1, 2 & 3 Sun Press Release 4 Levulan website © Sun Pharmaceutical Industries Limited. All Rights Reserved. 15 Innovative Medicines portfolio Treatment of adult patients with locally advanced basal cell carcinoma (BCC) that has recurred following surgery or radiation therapy, or those who are not candidates for surgery or radiation therapy. • ODOMZO was shown to shrink laBCC in almost 6 out of 10 patients (56%) in a clinical study. laBCC Patients were treated with ODOMZO® and followed for at least 18 months5 • Currently marketed in US, Canada, EU, Australia and Israel To increase tear production in patients with keratoconjunctivitis sicca (dry eye) • Phase 3 confirmatory study observed clinically and statistically significant improvements in tear production and ocular surface integrity in patients6 • Current Markets: US, Canada and India • Out-licensed to CMS for Greater China in June 2019 Treatment of postoperative inflammation and prevention of ocular pain in patients undergoing catar
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5 Product Label 6 Sun Press Release 7 & 8 Product website 16 Innovative Medicines portfolio In combination with methylprednisolone for the treatment of patients with metastatic castration-resistant prostate cancer (CRPC). • YONSA® was shown in clinical studies to be an effective form of abiraterone acetate, and can be taken with or without food, in combination with methylprednisolone9 • Current Markets: US First and only product approved in the US for treating seizures in neonatal patients • NEOLEV2 study compared phenobarbital to levetiracetam in the first-line treatment of neonatal seizures. 24 hours following the administration, 73% vs. 25% were seizure-free in the respective groups10 • Current Markets: US For therapeutic solutions for long-term care (LTC) patients • Products using sprinkle technology for patients who have difficulty swallowing • Sprinkle versions of metoprolol (cardiology), rosuvastatin (cardiology) & duloxetine (neuro-psychiatry) • Current Markets: US • Treatment
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9, 10 & 11 Sun Press Release © Sun Pharmaceutical Industries Limited. All Rights Reserved. 17 Innovative Medicines pipeline Candidate Mechanism of Action Indication Pre- clinical Phase 1 Phase 2 Phase 3 Registration Unloxcyt anti-PD-L1 metastatic cutaneous squamous cell carcinoma (cSCC) or locally advanced cSCC Nidlegy Immunocytokines melanoma & non- melanoma skin cancers Ilumya IL-23 Antagonist psoriatic arthritis Fibromun MM-II Innovative anti- cancer immunotherapy Liposomal intra- articular lubrication soft tissue sarcoma glioblastoma pain in osteoarthritis GL0034 GLP-1R Agonist type 2 diabetes All candidates for global markets except Nidlegy where Sun is commercial partner for Europe, Australia & New Zealand. Nidlegy is a trademark of Philogen. © Sun Pharmaceutical Industries Limited. All Rights Reserved. 18 Innovative Medicines Sales Innovative Medicines Sales (USD mn) 485 674 871 1,039 1,216 18.0 16.2 19.8 13.1 10.8 FY21 FY22 FY23 FY24 FY25 Innovative Medicines Sales Innovative M
Net Profit Adjustment
# H1FY26 - Adjusted for Rs 7.2 Bn related to the (i) SCD- 044 impairment Rs 2,870 mn, (ii) GxMDL cost Rs 5,310 mn, (iii) Benefit from deferred tax adjustment Rs 1,005 mn © Sun Pharmaceutical Industries Limited. All Rights Reserved. 52 Q2 FY26Q2 FY25CHANGEH1FY26H1FY25CHANGEGross Sales144,052132,6428.6%281,913257,8879.3%Revenue from operation144,783132,9148.9%283,297259,4419.2%Gross Profit114,225105,7008.1%223,938204,1919.7%Gross Margin79.3%79.7%77.7%75.4%EBITDA45,27139,39014.9%88,28775,46617.0%EBITDA Margin31.3%29.6%26.9%26.5%Net Profit31,18030,4022.6%53,96658,758-8.2%Net margin21.5%22.9%20.8%19.7%Net Profit (Adjusted)31,18030,4022.6%61,14158,7584.1%Net margin (Adjusted)21.5%22.9%22.8%20.8%R&D7,8277,929-1.3%16,85515,8696.2%R&D as % of Net Sales5.4%6.0%6.2%6.7%EPS (Diluted) INR13.012.72.6%22.524.5-8.2%EPS (Diluted) INR (Adjusted)13.012.72.6%25.524.54.1% Sales split Q2 FY26 # ( All Figures in Rs mn ) US Formulations India Branded Generics Emerging Markets Rest of World API & Others 33% 20