Professional Documents
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October 19, 2022
October 19, 2022
October 19, 2022
To, To,
The Manager, The Manager,
BSE Limited National Stock Exchange of India Limited
Corporate Relationship Department Corporate Communication Department
Dalal Street, Mumbai – 400 001 Bandra (EAST), Mumbai – 400 051
Scrip Code: 539268 Scrip Symbol: SYNGENE
Dear Sir/Madam,
Sub: Investor Presentation under Regulation 30 of SEBI (Listing Obligations and Disclosure
Requirements) Regulations, 2015.
With reference to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, please find enclosed the Investor Presentation for the quarter ended September
30, 2022. The Company will use this presentation for any meeting scheduled with analysts or
institutional investors up to December 31, 2022.
The above-mentioned Investor Presentation will also be available on website of the Company
www.syngeneintl.com.
Thanking You,
Yours faithfully,
For SYNGENE INTERNATIONAL LIMITED
PRIYADARSHINI
Digitally signed by PRIYADARSHINI MAHAPATRA
DN: c=IN, o=Personal,
pseudonym=bc2eb3d598e4b4695dfab584d8c4954317f2c9b276b0ead69f4b6d
e415c5150d,
2.5.4.20=3b3032863a60d6cf503dc962d0b81de07d5cef26229a00b5f723a1ef57a
MAHAPATRA
b0005, postalCode=751015, st=ODISHA,
serialNumber=df67e39aa5435d22f718c22d0516d97afb1208536f4f1860285e06
c72d0c9992, cn=PRIYADARSHINI MAHAPATRA
Date: 2022.10.19 14:53:21 +05'30'
___________________
Priyadarshini Mahapatra
Company Secretary and Compliance Officer
Certain statements in this release concerning our future growth prospects are forward-looking statements, which are
subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those
contemplated in such forward-looking statements.
Important factors that could cause actual results to differ materially from our expectations include, amongst others
general economic and business conditions in India, business outlook of our clientele and their research and development
efforts our ability to successfully implement our strategy, our growth and expansion plans and technological changes,
changes in the value of the Rupee and other currencies, changes in the Indian and international interest rates, change in
laws and regulations that apply to the Indian and global biotechnology and pharmaceuticals industries, increasing
competition, changes in political conditions in India and changes in the foreign exchange control regulations in India.
Neither the company, nor its directors and any of the affiliates have any obligation to update or otherwise revise any
statements reflecting circumstances arising after this date or to reflect the occurrence of underlying events, even if the
underlying assumptions do not come to fruition.
1 Operating Highlights
3 Syngene strengths
4 Financials
Appendix
• Positive performance across all divisions The second quarter results are against a strong quarter last year due to sale of
remdesivir. Underlying performance, excluding the impact of remdesivir in the
• Sustained growth in research divisions - Discovery Services, including Synvent, previous year, was strong and reflects a return to normal operations in global
our integrated drug discovery platform - and the Dedicated Centres markets
• Successfully completed the process performance qualification batches at a Total Revenue Reported EBITDA
commercial scale for Zoetis
Rs. 7,835 Mn Rs. 2,319 Mn
• On track for the regulatory audits, which will pave the way for the commercial
manufacturing of the drug substance for Librela®*, a Zoetis product, from the
fourth quarter of FY23
Parameter FY23 Guidance (April 2022) Revised FY23 Guidance (July 2022) FY23 Guidance (October 22)
Revenue from
Mid-teen growth High- teen growth High- teen growth
operations
EBITDA Margin EBITDA margin around 30%. EBITDA margins around 30% EBITDA margins around 30%
PAT growth rate for the full year expected to PAT growth expected PAT growth expected
PAT* Growth
be in single digit. to be in single digit to be in single digit
We offer integrated Sector expertise includes: Our team includes ~6000 Established track record in
solutions across pharmaceuticals, biotech, employees based on 3 discovery research and
research, development nutrition, animal health, state-of-the-art campuses development for small and
and manufacturing consumer goods and in 3 of India’s leading life large molecules. Emerging
specialty chemicals science hubs: Bangalore, presence in commercial
Mangalore and Hyderabad. manufacturing.
• USFDA,OHSAS 18001,
• GLP, cGMP, AAALAC & CPCSEA Certified facilities
• CAP accreditation, ISO/IEC 27001:2013 accreditation
• EMA and PMDA approved, AAALAC accredited facility
• The safety assessment laboratories and large molecule bioanalytical lab are ISO IEC 17025:2017 certified by the National
Accreditation Board for Testing and Calibration Laboratories (NABL).
Flexible Platform with capability Ring-fenced infrastructure for Pre-clinical to clinical trials Manufacturing of small and large
across multiple modalities including exclusive operations for an individual molecules for commercial supplies
small molecule, large molecule, client Drug substance and drug product
peptides, oligonucleotides, antibody development cGMP-compliant facilities
drug conjugates, PROTACs Dedicated, multi-disciplinary team of
scientists Associated services to demonstrate State-of-the art API manufacturing
SynVent our proprietary platform for the safety, tolerability and efficacy of and biologics manufacturing facilities
Integrated Drug Discovery Access to entire Syngene ecosystem the selected drug candidate
for specialist research and
development operations cGMP-compliant manufacturing of
clinical supplies, and registration
batches for small molecules
Safety Assessment
Antibody-Drug Specialty Molecules
Conjugates HPU* (Phase 1)
Oligonucleotides Integrated Drug Discovery
Bio Analytical Lab
(Large Molecules)
Commercial Supplies
Stability & Analytical
Therapeutic Antibody Services
Discovery & Engineering;
Cell Line Development Bioprocess Development, Process Characterisation,
Clinical Manufacturing (Microbial & Mammalian)
PROTACs
Research Informatics: Bioinformatics,
integrative analysis, target dossiers, systems
modeling, cheminformatics and AI
1 2 3 4 5 6
Dedicated R&D centers Full time equivalent (FTE) Fee for service Productivity-based model Risk-reward Delivery-based contract for
CDMO business
• Dedicated scientific • Pre-defined numbers • Client contracts for • Resources and services • Relationship spans a
and support teams of scientific personnel agreed services within are directly linked to portfolio of milestone- • Per Kg/batch model with
work exclusively on the from pre-determined a defined scope. productivity generated driven research built-in milestones
client’s projects disciplines work full- by our team projects progressing towards
time on client projects • Flexible, ‘on demand’ achievement of outcome
• Clients are provided personnel and research • Client benefits from and delivery of drug
with customized and • Deliverables and team infrastructure deployed reduced upfront substance, drug product
ringfenced composition evolve as to achieve the project payments in exchange
infrastructure the project advances objectives for significant success-
based milestone
• Long-term strategic • Agreements are • Engagements may be payments against pre
alliances that last typically renewed short or long-term agreed criteria
usually five years or annually
more
Bangalore campus
90 acres housing
most of Syngene’s
capabilities Discovery Services
Hyderabad campus
commenced operation in
Aug 2019
API Manufacturing
Mangalore campus
Biologics Commissioned March 2020
Bangalore campus Reactor size: 2-12KL
Manufacturing plant scale:
Mammalian- ~100-2000L
Microbial - ~200-500L
Nurturing young • Syngene Training Academy offers new graduate recruits a six-month extended induction to help them
5,200+ scientists talent and enhancing understand the Company’s vision and values while acquiring the skills to be an industrial scientist
science skills
delivering high quality • Science Certification Program is open to all employees to enhance their capabilities keep their skills up to
solutions – create a date and provide opportunities for continuous learning.
competitive edge
• Emerging Leaders Development Program is designed to help strong managers transition from managerial
PhDs Master's Degree Others Developing leaders to leadership roles
and managers
• Manager Development Program is designed for first and second line managers to develop basic
management skills and performance management to help them manage their teams and ensure that they
are making a positive contribution to the organizational goals.
10%
28%
Promoting • The Company has strong equal opportunity policies to protect against all forms of discrimination and
workplace provide a workplace where all employees can deliver their best work
diversity
• Support provided to parents of young families. 27% of employees are female and 22% of management
62%
positions are held by females
FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22
Gross Block^ (Rs Mn) EBITDA margins Profit After Tax * (Rs. Mn)
Sustained above 32% FY18 to FY22 - CAGR 8%
39,435
34,599 35%
32% 33% 33% 32% 4,211
30,171 3,662 3,821
3,054 3,316
21,612
16,610
FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22
*Before exceptional items ^Tangible and Intangible Assets Putting Science to Work 21
Levers for future growth
Forward
Capability
Offtake in commercial manufacturing in both Integration
biologics and small molecule API Capability additions
• New capabilities across multiple domains
Integrated Drug Discovery including adjacent sectors
• Proprietary model leveraging breadth of • Stability, analytical and bio-analytical services,
capabilities to deliver end to end project viral testing, oligonucleotide bioinformatics
requirements • New platforms: antibody drug conjugates,CAR-T,
PROTACs
• Accredited with ISO 45001:2018 for Occupational Health and Safety • Accredited with ISO 14001:2015 for our Environment Management System
(OH&S) measures
• 20% reduction in freshwater usage; 152KL rainwater harvested
• Risk assessments are an integral part of our operation: a proactive
approach in incident prevention • 92% of the total waste generated is recycled in an environment-friendly
manner for FY22
• Kavach, our flagship safety program, has delivered improvement in safety
metrics and drives focus on industrial safety for all employees
• 3R’s operations constantly monitored to identify opportunities to reduce,
reuse, and recycle waste
• 13.7 million manhours without Lost Time Incident (LTI) on rolling 12-month
• 59,749 tCO2 emissions avoided in FY22
basis for FY22
• 74 Mn KWH of electricity usage from green energy sources - up 18%
from FY21
Refer to the CSR link on our website to know about our corporate social responsibility pursuits on healthcare, education, environment, rural development
2017
2018 2019 2020 2021 2022
• Ranked as one of the 25 fastest growing companies in India • Dream Companies to Work Award at the 29th Edition of the World HRD
by Outlook Business Congress Awards.
• CMO Leadership Awards 2019 - Presented by Life Science • Asian Leadership Award for Excellence in Branding and Marketing in the
Leader Magazine Contract Research Development and Manufacturing category
• FICCI CSR Award for Environmental Sustainability -At the • CRISIL awards Syngene Top score among Indian Pharma: for Environment
17th Edition of the awards in New Delhi Safety Governance (ESG)
• Safe Workplace Champion Award - At the 8th Manufacturing • Syngene ranked #69 in Fortune India magazine's list of 'Top 100 Indian
Supply Chain Summit and Awards wealth creators 2021’
• Best Leadership Development Program for Middle • India Pharma Awards 2021 for Operational Excellence:
Management Award - At the 6th Global Training and Manufacturing organized by Informa Markets, India
Development Leadership Awards • Best Governed Company in the Listed Segment: Medium Category at the
• India Pharma Award 2019 - For “Excellence in Contract 21st National Awards for Excellence in Corporate Governance by The
Research and Manufacturing Services” at CPhI & P-MEC India Institute of Company Secretaries of India (ICSI)
Expo. • Most Innovative New Learning Programme at the L&D Vision & Innovation
• Utthama Suraksha Puraskar 2019 - (Pharma and Chemical Award organized by Transformance Forums
Manufacturing Category) by National Safety Council of India • Mahatma Award 2021 Under Health & Wellbeing Category
(NSCI). Leadership Awards • Best Corporate Foundation Award at the World CSR Congress
Putting Science to Work 24
Robust risk management framework
Syngene has a risk management framework to identify, monitor, report and manage risk.
Every risk owner monitors and manages risks relevant to their area of responsibility.
Refer Annual report for complete risk profile and risk mitigation strategy
(1) Other Assets calculated as (Inventories + Trade Receivables + Unbilled Revenues + Advance Tax + FX premium less ( Trade payables + Others current liabilities) at the end of the year
(2) Net cash / (Net debt) calculated as the Cash & cash equivalents (Cash and bank balances + Current investments+ Fixed deposits) less Total debt (Short-term borrowings + Long-term borrowings) at the end of the year
(3) Exceptional item in FY22 is in relation to reversal of services export incentive related to FY20 in line with Government notification. In FY21 relates to receipt from insurance claim
Syngene is an operationally independent publicly listed Biocon Limited, founded in 1978, is an innovation-led global
subsidiary of Biocon Limited, established in 1993 as India’s biopharmaceuticals company and has majority holding in key
first Contract Research Organization. Company has 25+ years operating entities including Syngene
of experience in novel molecule discovery, development and
manufacturing services
• Product Based
Integrated services:
• Biosimilars
• Discovery research
• Formulations and
• Development *
Compounds
• Manufacturing
• Alternative Therapeutic
small/large molecules
Drugs
0.5%
NSE Ticker SYNGENE
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HTS/DEL/Fragments/Virtual
HTS/DEL/Fragments/Virtual Optimization: Optimization: Drug Substance Drug Product (DP)
Chemistry Screening Optimization:
1. Biochem/Cell Potency Optimization:
1. Tgt Optimal h-Profile (DS, aka API) 1. Pre-Formulation Studies
Screening 1. Biochem/Cell
Development 1.1.Library
LibraryDesign/Synthesis/
Design/Synthesis/ 2. Selectivity Potency 1.2.Tgt OptimalSelection
Candidate h-Profile 1. Route Scouting (define 2. Ph1 Suitable Formulation
Maintenance 2. Selectivity
3. Phys/Chem Properties 2.3.Candidate Selection
Backup Strategy specs) 3. Prototype/Stability
Formulation Maintenance 3. Phys/Chem Properties 3. Backup Strategy
Clinical 2.2.Hit
Hitvalidation,
validation,Resynthesis
Resynthesis 4. In Vitro/Vivo Tool Cmpds
4. In Vitro/Vivo Tool Cmpds
2. Scale Up 4. Manufacture/Stability
3. Series Qualification,
3. Series Qualification, 3. Manufacture/Stability 5. IND, BA/BE, DDI and Phase 1
Development
Prioritization
Prioritization clinical trials
6. GCP Bioanalysis
DRF Tox (R/NR) MTD or RP2D
In In
vitro
vitro
Safety:
Safety: Tox-Suitable Bioanalysis
Safety (as appropriate)
1. 1.hERG
hERG Formulation GLP Tox (R/NR)
Assessment (maximize exposure)
2. 2.IonIon
Channels
Channels GLP Bioanalysis
Informatics
Iterative Data Analysis and Interpretation, Models, Hypothesis Generation
Early PK, MTD/DRF studies, • IND enabling GLP Tox studies: Ames, Chromosomal • NDA enabling studies: Sub- chronic and
Exploratory Tox aberration, Micronucleus tests, Pivotal repeat dose Repro-tox studies
Safety Assessment (Rodent and Non- rodent) • Local Tolerance Chronic and
• Safety Pharmacology: CNS, Respiratory, CV Telemetry, hERG study Carcinogenicity study
• Fit to purpose Process dev
• Process dev , robustness and safety study
• Route scouting • Material supply
Chemical •
• Unit operation studies • Process DOE, QBD and scale
• Process safety evaluation Impurity identification
Dev and Manuf. • Impurity synthesis & characterization
• Scalability • Enable and scale up studies Commercial
• DS clinical batch supply • Process Risk assessment
• Tox material delivery batches manuf.
• FMEA analysis and packaging
• Pre-formulation • Solid Oral & Injectable Clinical Supplies for all phases
• Registration and process
Formulation • Salt polymorph screening dosage forms • FIH formulation for Phase 1/2A
validation batches manuf.
Dev and Manuf. • Excipient compatibility • Enabling formulation • Final dosage form for Phase 2B/3
technologies and onwards
• Methods for Intermediate, • Phase appropriate method validation for DS & DP (microbial methods)
• Specifications for DS & DP Robustness of Analytical Analysis of
Methods for Pre-formulation and Final DS, DP commercial
Analytical Services Bio-analytical • Forced degradation studies • In process and Finished product analysis methods and full validation as
batches
• Solid state characterisation • Final batch release with COA per ICH
• Reference standard , Impurities, Isolation and characterisation
Regulatory Support
• Cell line development / • Clone to GMP • Process DOE, robustness and safety study
selection • Upstream process Optimization • Unit operation studies • Commercial batches
• Process screening • Viral clearance studies • Process risk assessment
Process & • Impurity synthesis & characterization
• FMEA analysis
• manufacturing and
• Process characterization • DS clinical batch supply (non-GMP clinical & GMP) packaging
analytical • CMC & regulatory support
• Tech transfer package
• technical support
development • Method development & testing
• Methods for intermediate, • Clinical phase process development & supply • QC/QA analysis & release of
• 3-Lot testing & equipment
final DS, DP • commercial product w/ COA
Scale-up & • Methods for pre-formulation • Critical to quality parameter
Specifications for DS & DP validation
• Stability analysis
• In process and finished product analysis • Cleaning validation studies
QC/QA and bio-analytical identification • Root cause Investigation &
• Viral clearance studies • Pre-audit preparation
• Forced degradation studies • Packaging and ICH storage stability and shelf-life estimation CAPA management
Regulatory Support