Biocon (BIOCON) Investor presentation summary

Strategic evolution and integration

• Transitioned from enzymes to biopharma, scaling biosimilars and acquiring Viatris' biosimilar business to become a leading global player.

• Integrated generics and biosimilars businesses to unlock value, simplify structure, and drive operational synergies.

• Consolidation enables cross-leverage of portfolios, improved capital allocation, and a stronger balance sheet.

• Now holds ~98% of Biocon Biologics, with plans to acquire the remaining stake.

Financial transformation and performance

• Completed $3B+ Viatris biosimilars acquisition and refinanced acquisition loan with a $1.2B offshore bond, extending maturity by 5 years.

• Deleveraged balance sheet, reducing net debt/EBITDA from 4.3x to 2.8x, and saving $34M annually in interest.

• Major capex cycle largely completed, positioning for 5+ years of demand with no major new projects planned in FY27-28.

• FY25 revenue reached $1.8B, with EBITDA margins around 22% and steady R&D investment at 7% of revenue.

• Q3 FY26 saw 11% YoY revenue growth and 21% YoY EBITDA growth, with biosimilars as the largest contributor.

Product portfolio and pipeline

• Portfolio spans biosimilars, insulins, GLP-1s, and complex generics, addressing over 60% of global disease burden.

• 30+ biosimilars and 3 GLP-1s in the pipeline, targeting a $200B+ market opportunity.

• Multiple global launches planned for 2026 in oncology, immunology, and GLP-1s, including first-in-class approvals.

• Robust mid-term pipeline covers two-thirds of biologics going off-patent by 2031, focusing on high-value areas.