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INDIA
Amazing Facts and Figures
                                   Dinesh Jain, Founder CEO




Connecting Global to India | Realizing Possibilities

                                                      Page 1
“India is no longer seen as a America's back office. India has moved up the value chain as a America's knowledge
partner. We need help from the Indian companies in job creation. If Indian firms can create jobs for the hinterland of
                                  America, it will dispel anti - sourcing rhetoric.”
                                                                                             - Ron Somers, President,
                                                                             US India Business Council | January 2011




“This coming year, I believe Indian participation at Davos can highlights the country's thought leadership. At time
 when the world is searching for a new model of economic development, India's experience as a crucible for new
                 types of inclusive growth gives its a special role among developing countries.”

                                                                                        - Klaus Schwab, Founder & Chairman,
                                                                                       World Economic Forum | February 2010




      “India is the cradle of the human race, the birthplace of human speech, the mother of history, the
  grandmother of legend, and the great grand mother of tradition. Our most valuable and most constructive
                         materials in the history of man are treasured up in India only”


                                                                            - Mark Twain, American Author 1835- 1910



                                     © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                        Page 2
Overview of Contents


India – an Introduction

India LifeSciences Industry Snapshot

Major Centers of Lifesciences in India – Public & Private

Major International Deals with India by Global Companies

What Indian LifeSciences firms are Looking for

About Aagami and how it supports global companies in their India Initiatives




                          © Aagami, Inc. 2013 | All rights reserved | www.aagami.net   Page 3
India – A Brief Introduction                                                                                                       India


                           - Population of continent Africa- 1 Billion
                           (second most populous Continent)**
                           - 15% of the world's human population
         Africa




                                                   India compares in
                                                 population with these                                     - Nation of 1.21 Billion population*
                                               continents although it is a                                 - 17.5% of world human population
                                                     single country.                                       - 28 states & 7 union territories

             Europe
             Union
                           - Population of Continental Europe –
                           739 Million -~ 10% of the world's human
                           population



 Source: Africa Population- Explore DIA, Africa Population 2013, Europe Union Population- 502.5mn Euro stat News Release-July 2011; The EU in the
 world – population - EU contributes in world population http://epp.eurostat.ec.europa.eu/statistics_explained/index.php/The_EU_in_the_world_-
 _population; India -India Online pages- Population for 2011, India contributing to world population : India today. in
                                              © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                                  Page 4
India – A Brief Introduction
     A Treasure of Languages in India                                                          One of the Oldest Civilizations
 •      There are 22 official languages in India. While                                    •    India civilization is one of the oldest civilizations
        The number of languages spoken in India, as per                                         of the world even older than Egypt and
        The Economist are 438 with English most widely                                          Mesopotamia.
        spoken and used in interstate communications.
          –     Economist also has a Greenberg diversity index which
                                                                                           •    Indian civilization is 8000 year old.
                measures the probability of two random citizens                                  –     Latest research has put the date of the origin of the
                sharing the same mother tongue. An index of 1 being                                   Indus Valley Civilisation at 6,000 years before Christ,
                no two people picked at random would be speaking                                      which contests the current theory that the settlements
                the same language, India’s Greenberg diversity                                        around the Indus began around 3750 BC
                stands at 0.94.                                                                  –    India invented the Number System. Zero was invented
          –     On sheer number of languages spoken, India stands                                     by Arybhatta.
                fourth behind Papua New Guinea (830), Indonesia                                  –    The place value system, the decimal system was
                (719) and Nigeria (514). On the diversity index, India                                developed in India in 100 BC.
                (0.94) stands third behind Papua New                                             –    The Algebra, Trigonometry & Calculus came from India
                Guinea(0.99) and Congo (0.95).
                                                                                                 –    The world university was established in Takshila in 700
 •      English is widely spoken in India. The                                                        BC
        subcontinent ranks third in the world, after the                                         –    Even today some ancient traditions are still practiced
        USA and UK in terms of English speakers                                            •    Though so old in existence, India is a nation,
 •      In education, English is the most common                                                which is considered to be youngest in its
        medium (87% of all the situations).                                                     demographics. We have about 550 million
          –     English is the language of the legal system, higher                             youth in the nation.
                education, pan-regional administrative network,                                  –    With more than 50 percent of the population below 30
                science and technology, trade and commerce                                            years of age, India today has an advantage of the
                                                                                                      demographic dividend.
                                                                                           •    India is the largest democracy in the world
Source: Languages in India, Vol 3- 5 May 2003, Indus Valley 2,000 years older than thought- Hindustan Times -November 04, 2012, Silver Evolution-
http://silverevolution.wordpress.com/2011/12/07/india-youngest-nation-today-silver-tomorrow/
http://eci.nic.in/eci_main1/eci_news/AddressbyDrAPJAbdulKalam.pdf
                                                          © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                                      Page 5
Economic Indicators of India – Fast growing and Stable
                                                                                                   •   India demonstrates faster and stable growth than
                                                                                                       most other countries in the Dow Jones list of
 2000                                     INDIA GDP                                      1847.98
                                                                                                       emerging economies
                                    Billions of US Dollars                     1729.01
 1800
 1600                                                                                              •   Indian economy ranks 3rd largest in the world in
                                                                     1380.64
 1400                                                                                                  PPP (Purchase Power Parity)
                                                   1242.43 1213.78
 1200
                                          951.34                                                   •   India is expected to become the second largest
 1000                                                                                                  economy in the long run.
                                 810.15
  800                   700.92
               599.46
  600 507.19                                                                                       •   Among emerging markets, India is next only to
                                                                                                       China with respect to share in world GDP
  400
  200
                                                                                                   •   Among emerging markets India has one of the
    0                                                                                                  most favourable tax regimes, a very crucial factor
         2003 2004 2005 2006 2007 2008 2009 2010 2011 2012                                             for business growth
                                                                                                        –   On the scale of most favourable tax rate score
                                                                                                            where 10 was least tax (10= least tax), India score
                                              Years                                                         was 8
Source: www.tradingeconomics.com| | The World Bank Group


• India contributes total 6% in world GDP (PPP) 2011                                               •   As per the Nielsen Global Consumer Confidence
• The country’s GDP has been growing at an average rate of                                             Index (various reports), Consumer confidence
8.6% for last five years                                                                               has been consistently above the world average


Source: India The Incredible Investment Destination , Fact Book- Dept. Of Economic Affairs, Ministry of Finance, GOI, June 2012, IMF World
Economic Outlook (April 2012)
                                                    © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                                           Page 6
India’s Robust Macroeconomic Performance

Key Parameters                                                            2005-06              2011-12         Change
Real GDP (INR Billions)                                                   32, 542              52, 220         60 % higher

Real Per capita GDP (INR)                                                 33, 548              46, 221         38% higher

Investment/ GDP (%)                                                       35.8                 37.6            5% higher

Exports (US $ bn)                                                         103                  303             194% higher

General Government Gross Debt (% GDP)                                     77.4                 64.9**          16% lower

Workers Remittance (US$ bn)                                               28.0+                63.7++          127%

Gross International Reserves (US $ bn)                                    151#                 294##           94% higher

Foreign Direct Investment inflow (US $ bn)                                9.1                  46.8            414% higher

Foreign Direct Investment outflow (US$ bn)                                6.1                  25.8**          323% higher


Source: Reserve Bank of India data (as on March 2012, IMF WEO Database April 2012, ** FY 2010- 11, + for calendar year 2006, ++ for
calendar year 2011, , # as on 31 March 2006, ## As on March 2012; Department of Economic Affairs, GOI




                                                 © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                           Page 7
India’s Key Strengths include....
Stable financial systems, healthy sectoral diversity of economy, highly educated workforce and
openness in Trade
                                                                                     • Good growth prospects supported by ongoing economic
       India outperforms other fast growing economies                                  liberalisation and strong domestic demand
                in terms of change in openness
                                                                                     • Stable financial system, Strong external liquidity position
                                                                                     • High degree of political stability in comparison to many countries
   India                                                  170
                                                                                     • Vibrant, transparent and high-yielding capital markets
                                                                                     • High savings and investment ratios
 Russia                             97                                               • Strong and competitive private sector
                                                     B                 Brazil        • Low susceptibility to event risk
                                                     E                 S.Africa      • Steadily rising government revenues
Mexico                        74
                                                     T
                                                                       China
                                                     T
  China                       74                     E                 Mexico        • Healthy sectoral diversity of economy
                                                     R                 Russia        • Largely local currency denominated debt
S.Africa
                                                                                     • Conducive investment climate
                     40                                                India
                                                                                     • Strong financial regulatory framework
                                                                                     • High growth in exports
  Brazil             40                                                              • Strong demographic advantage
                                                                                     • Highly educated work force
           0         50            100         150              200
                                                                                     • Innovative society


                                                                                     India’s economy has strong fundamentals & is host to
    The country ranks higher than many countries in key                              several eminent global corporate giants that are leaders
    parameters such as market size (4th) & innovation                                in their respective fields. According to the Global
    (39th) . India has also a good financial market (17th)                           Competitiveness Report 2010-11, India ranks at 51
                                                                                     among 139 countries

   Source: Department of Economic Affairs, Government of India, Doing Business in India- E&Y report , 2011, World Bank GDI Database

                                                         © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                                 Page 8
India : Increasing foreign assets
Foreign Reserves have grown from 54.1 USD mn in 2001-02 and peaked to 309.7 USD mn in 2007-08. India
is hotspot for FDI, much ahead than US and UK as per FDI Confidence Index 2012


                   High Foreign Reserves                                                       India is an attractive destination for FDI

2011-12                                    294                                          1.9
                                                              2001-02              2
                                                                                              1.7                                           China
2010-11                                      304.8                               1.8                1.6
                                                              2002-03                                     1.5 1.5 1.5 1.5 1.5
2009-10                                  279                                     1.6                                            1.4 1.4     India
                                                              2003-04            1.4
2008-09                                251.9                                                                                                Brazil
                                                              2004-05            1.2
2007-08                                      309.7                                                                                          US
                                                                                   1
2006-07                        199.1                          2005-06
                                                                                 0.8                                                        Germany
2005-06                   151.6                               2006-07            0.6                                                        Australia
2004-05                  141.5                                2007-08            0.4
2003-04               112.9                                                      0.2                                                        Singapore
                                                              2008-09
2002-03           76.1                                                             0                                                        UK
                                                              2009-10
2001-02         54.1                                                                                                                        Malaysia
                                                              2010-11
          0       100        200        300          400                                                                                    South Africa




>> India’s net foreign assets are higher than most other
Emerging Market Economy (EMEs)*
                                                                                            FDI Confidence Index 2012 – India ranked 2nd
                                                                                       in the world, an improvement from its 3 rd rank in 2010
>> India’s sovereign net foreign assets is 10.5 % of GDP in
EMEs *


Source: Department of Economic Affairs, Government of India; * - Fitch Ratings, March 2012; Reserve Bank of India
                                                     © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                              Page 9
Lifesciences is a regulated and fast growing industry in
India – (1 of 2)
           Life Science Market - $ 21 billion.
               Experiencing rapid growth,                                                               The Indian healthcare sector is
              projected to have a CAGR of                                                             expected to reach US$ 100 billion
                                                          Indian healthcare is $65 billion
           around 25-30% between FY2011                                                                 by 2015, $280 billion by 2020.
                                                                 (December 2012)
            & FY2013* . India accounted for                                                           Growing 20 per cent year-on-year
           19 per cent of the total revenues                                                          (y-o-y), as per rating agency Fitch
                     in Asia Pacific#



                                                        India Pharma market is expected
            India is the  3rd
                            largest Pharma               to touch US$ 74 billion in Sales                The outlook on the Indian
             market by volume and 13th in               by 2020 from the current US$ 11               pharmaceutical industry remains
          terms of value globally. By 2015, it                Billion, according to a                 favourable, according to a report
               will rank 10th in world**                 PricewaterhouseCoopers (PwC)                      by ICRA and Moody's
                                                                       report.



              Domestic formulation market                      India's exports of drugs,                     The size of the Indian
             stood at Rs 58,300 crores (US$                    pharmaceutical and fine                   formulations market, which
               10.54 billion) and has been               chemicals grew by 27 per cent to               currently stands at around Rs
            ranked third in terms of volume                 Rs 60,000 crores (US$ 10.85               62,000 crores (US$ 11.21 billion),
               and tenth in terms of value,              billion) for the year ended March               is growing at 15-20 per cent
                         globally.                                     2012***                                     annually.


Source: *Aspiring Mind-http://www.aspiringminds.in/industries/life-sciences.html; ** India Pharma 2015- Unlocking the potential of Indian
Pharmaceuticals market -> McKinsey & Co; ***Pharmaceutical Exports Council of India (Pharmexil).; IBEF, #- Seven Indian companies among
Asia's top 20 life science firms- Deccan Herald , July 6, 2012 Inc. 2013 | All rights reserved | www.aagami.net
                                                       © Aagami,                                                                            Page 10
Lifesciences is a regulated and fast growing industry in
 India (2 of 2)                    Top 10 supplier countries 2011 for UNICEF
India boast of over 20,000 pharmaceuticals and biotech                                     Based on country of invoice, in $ millions
 companies. 60,000 distributors and 700,000 to 800,000
 pharmaceuticals retailers.*                                                                 Supplier Country         Amount
More than top 20 companies have presence in the regulated                                   India                    $                       467.00
 market (US, Canada, Western EU and Japan)                                                   Switzerland              $                       299.00
More than 100 companies from India are present in 50+                                       Belgium                  $                       239.00
 countries.
                                                                                             USA                      $                       183.00
India is known as “Pharmacy of Developing world”. Globally
 successful in ‘Generics’
                                                                                             France                   $                       163.00
67% of medicines exports from India go to developing                                        Denmark                  $                       128.00
 countries.                                                                                  Italy                    $                        54.00
Approx. 50% of the essential medicines that UNICEF                                          United Kingdom           $                        37.00
 distributes in developing countries come from India                                         Pakistan                 $                        32.00
75-80% of all medicines distributed by the International
                                                                                            Source: UNICEF – Supply Annual Report 2011
 Dispensary Association (IDA) to developing countries are
                                                                                            http://www.unicef.org/supply/files/UNICEF_Supply_Annual_Report
 manufactured in India. (IDA is a medical supplier operating                                _2011_web.pdf
 on a not-for-profit basis for distribution of essential
 medicines to developing countries.)


                  If vaccines are excluded, India is the source of approx. 50% of the essential medicines
                                        UNICEF distributes in developing countries


Source:* -The Right Spice. Pharmaceutical Market Entry in India – Deloitte; http://www.doctorswithoutborders.org/news/access/background_paper_indian_generics.pdf



                                                       © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                                        Page 11
Indian pharmaceutical industry Today
                                                                                       Top 10 Destinations of Indian pharma
                                                                                       products Apr-Dec 2010
 Huge Export Happening                                                                 Sr.No       Countries Exported
                                                                                                   To
                                                                                                                               Amount (US$
                                                                                                                               millions)
 India’s largest export destination for Pharma products is still                      1           USA                         1791.0
  the USA, followed by the UK, Germany, South Africa and
  Russia.                                                                              2           UK                          263.9

                                                                                       3           Germany                     243.6
 More than 50 per cent share of exports is by way of dosage
                                                                                       4           South Africa                222.6
  forms.
                                                                                       5           Russia                      221.4
 India currently exports drug intermediates, Active
                                                                                       6           Brazil                      165.0
  Pharmaceutical Ingredients (APIs), Finished Dosage
  Formulations (FDFs), Bio-Pharmaceuticals and Clinical                                7           Nigeria                     154.1
  Services to various parts of the world.
                                                                                       8           Kenya                       137.3

 India had more than 175 US- FDA approved manufacturing                               9           Netherlands                 131. 7
  facility, which makes it the only country outside the US to
  have highest FDA certified manufacturing facilities (2009)                           10          Turkey                      119.0


Source: Doing Business in India- E&Y 2011; Growth of Indian Pharmaceutical            Source: Directorate General of Commercial Intelligence and
Industry: Impact of Indian, US and European Patent Laws and Regulatory                Statistics (DGCIS) Kolkata
Requirements, July 2012
                                                   © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                                      Page 12
Indian companies to benefit from the ongoing wave of
patent expiries
 Details of ANDA filings by Leading Indian companies

 100%          7
  90%                                      14
                    54    38
  80%   152   63
                               77    65    26
  70%               10    38                       Para IV
  60%
                                                   Pending (Non Para IV)
  50%
                                                   Approved
  40%                          23
                133
  30%   225 135     103                    69
                                     65
  20%
                               48                                              DMFs Filing by Indian and Chinese Pharmaceutical
  10%
                                                                               Companies (USFDA statistic)
   0%

                                                                               Riding on back of the generic opportunity, Indian companies
                                                                               have capitalized on the growth prospects to emerge as
                                                                               formidable players in the US generics markets.

                                                                               Most of the leading players have significantly expanded their
 Source: Company Reports; ICRA Estimates; Sun Pharma- Includes                 ANDA filings in line with the patent expiration cycle.
 filing from Taro. Details of Para IV opportunities of Sun Pharma &
 Cadila are not available.                                                     The quality of the filings by top Indian companies has also
                                                                               significantly improved over the years with complex molecules,
 INDIAN PHARMACEUTICAL SECTOR Growth drivers strengthen in                     non-standard categories (i.e. inhalers, injectables, oral
 the near term; Patent expiries in the U.S. & Europe and domestic              contraceptive, ophthalmic etc.) and Para IV/FTFs forming
 market are key industry Update ; March 2012                                   increasing share of their pipeline

                                                © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                                Page 13
India Biotechnology & Bio-pharma Sector has witnessed
continuous and steady growth
Biotech industry crossed revenue of $4161 billion in FY                           CRAMS sector in India valued at $8.2 Billion with 41.4%
2011- 2012.                                                                       growth trajectory, Set To Triplicate global average of
                                                                                  12.6%


Biotech registers a CAGR of 11.75% during 2008-12 an CAGR                         Market for Contract Research Organization in India to
of 24% during last 10 yrs.                                                        double to USD 1 Billion by 2016


                                                                                   •The local $485 million clinical research market is growing at a 11-13%
Biopharma dominates the India’s Biotech Industry with he                            as the country gains increasing favour as a base for global clinical trials
                                                                                    (phase I-IV)
revenue share of 61.6%.



                                                                                  “India's diagnostic market grows at 20%”
Abundant speciality health institutions
                                                                                                                         - BioSpectrum Asia , August 2012

•India has 16000+ hospitals
•The speciality hospitals in India have all facilities to cater medical tourism. •The diagnostics market in India is witnessing a 20 percent growth
                                                                                  which is the faster than any country in the world (the growth in the US
•India’s medical tourism business is predicted to generate USD 2.4 billion a
                                                                                  is one-to-two percent
 year by 2012 and is growing at 30 per cent a year.
                                                                                 •The diagnostics market revenue in 2011-12 touched $600 million as
•Vast range of medical treatments from simple dental procedures to
                                                                                  against $510 million in 2010-11
 complex cardiac surgeries is being offered by India.
•Those patients undergoing treatment in India can save 60%-95% of their
 treatment cost.
Source: BioSpectrum Asia; http://northbridgeasia.com/ResearchReports/Northbridge%20Capital_India%20Hospitals%20Reseach_March%202011.pdf
                                                  © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                                         Page 14
India’s Paradigm shift towards Innovation
  Paradigm has shifted from manufacturing quality generics to innovation and novel. India
  significantly contributes to the growth of the emerging “ hybrid “model




Source: A Ringside view of the Pharma Industry, Ranjit Shahani – Country President, Novartis India presentation at ValuexIndia, Mumbai, November 2011




                                                  © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                                  Page 15
Global Pharma companies keen to address opportunities offered
 by fast growing Indian market......
 On account of the growth slowdown in Developed countries
    Other Deals for R&D                                                                                  Type of Alliances
    Indian company          Pharma MNCs            Products

    Glenmark (2004)         Forest                 Asthma & anti
                            Laboratories           Lung infection

    Piramal Research        Merck (further         Cancer
    (2007)                  extension in deal
                            for 2012)
    Glenmark (2007)         Eli Lilly              Pain relief

    Serum Institute of      MSD                    Pneumococcal
    India (2011)                                   conjugate vaccine




                           The country’s growing
                   capabilities in contract manufacturing,                        Bristol Myers Squibb (BMS ) uses a slew of alliances, partnerships and
                    R&D and clinical trials also make it a                        acquisitions to complement its internal capabilities in drug discovery and
                  preferred outsourcing partner for global                        development.
                 Pharma at every stage of the value chain.

                                                                                  BMS calls its string of pearls strategy in which each transaction will be
                                                                                  aligned to the company’s focus on specific disease areas.40% of BMS
                                                                                  patents and 50% of revenue come from such alliances.
Source: India Pharma Inc. Enhancing value through alliances and
Partnerships – Pharma Summit- 2011(PwC & CII Report)
                                                   © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                                     Page 16
Opportunities for Global companies in India


                                                                                                              Ride on India’s
   Low production, R&D                                                                                      strength to tap the
    and clinical trial cost                                                                                 $150 billion generic
                                                                                                                  market


                                      As treatment costs are
                                                                                   Biotechnology
                                      significantly lower with
                                                                                 expected to be $8
                                         no waiting period,
                                                                                  Billion by 2015
                                       medical tourism is set


 Huge domestic market,
 despite price controls,                                                                                    To grow more than
   an opportunity—                                                                                         25% over the next five
  insurance and rural                                                                                             years
      healthcare




 Source: http://www.ipapharma.org/pt/July2012/45-49.pdf
                                              © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                     Page 17
Benefits to Global companies by Collaboration with Indian
 Companies                       Pharma MNCs collaborating with Indian companies
Enhancing value through alliances and Partnerships                                         bring to table new products, latest technology,
                                                                                           higher investments, quality systems and the
                                                                                           knowledge of regulatory process
                                                                                          On their part, Indian companies provide local
                                                                                           market knowledge, cost advantage and local
                                                                                           scientific talents.
                                                                                          Such alliances have the potential to bring
                                                                                           significant benefits to both parties and value to
                                                                                           society as a whole. Such partnership bring in new
                                                                                           drugs and therapies to the market and increase
                                                                                           patient's awareness about diseases and wider
                                                                                           treatment choices available

                                                                                    >> Lilly is currently transforming itself from a traditional fully
                                                                                    integrated pharmaceutical company into a fully integrated
                                                                                    pharmaceutical network, so that it can draw on a range of
                                                                                    resources beyond its own walls.

                                                                                    >> Lilly hopes teaming up with the other organization to create
                                                                                    virtual R&D programmes will enable it to get better access
                                                                                    innovation, reduce costs, manage risks more efficiently and
                                                                                    enhance productivity. For example, the Chorus project is a virtual
                                                                                    organization to take molecules quickly to proof of concept.

                                                                                    >> Lilly also uses external networks comprising third parties such
                                                                                    as Piramal Life Science, Hutchinson MediPharma, and Suven
Source: India Pharma Inc. Enhancing value through alliances and                     Life Science in the development of molecules
Partnerships – Pharma Summit- 2011(PwC & CII Report)



                                                   © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                                       Page 18
India’s large pool of scientific manpower and cost advantage
will see boom in collaborations
  The pharmaceutical industries in the US and Europe are facing
   severe financial constraints which are expected to worsen in the                Relative Comparison - Cost advantage in India(%)
   years ahead.
  The Pharma companies are under increasing pressure to reduce                       Parameters                     Total cost in %
   expenditure due to, the increasing cost of introducing New                         Cost in Developed              100%
   Molecular Entities (NMEs) (more than $3 billion in 2008),
   tightening FDA regulatory issues, blockbuster drugs worth more
                                                                                      countries
   than $100 billion set to expire by 2014 and drying pipelines                       Production cost in India       50%
  These pressures are expected to drive the companies towards low-
   cost countries such as India to perform their R&D activities, one of               R& D cost in India             12.5%
   their major expenses.
                                                                                      Clinical trial cost in India   10%

  With increasing pressures on curbing healthcare costs in the US,
   India’s low-cost manufacturing capabilities coupled with attention                 Such deals have helped Indian base to gain the
   to quality (India has the highest number of FDA-approved                           title of a genuine intellectual contributor
   manufacturing plants outside the US) will be sought by MNCs
  India has a large pool of scientific manpower which can be used in                 Several pharmaceuticals giant firms like Lilly &
   drug discovery, development and clinical trials                                    BMS have already begun to use more collaborative
  India's diverse genetic pool of treatment-naive population is                      Models
   attractive for clinical trials
  The increasing numbers of co-development and alliances taking
                                                                                      Thus, India has emerged as the promising
   place between Indian and Pharma companies speaks out in itself
   about the conducive environment and policies , protection and                      country in Drug discovery and more patent
   confidentiality of IP                                                              filing will be witnessed in years to come
Source: Drug discovery trends in India and China, Express Pharma- June 2010, Pharmaceuticals Export Promotion council (Pharmexil) ; India
Pharma Inc. Enhancing value through alliances and Partnerships – Pharma Summit- 2011(PwC & CII Report
                                                   © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                               Page 19
The year 2012 showed some big investment and joint
collaboration taking place in India (1/3)

                         • Elder Pharma Forms JV With Russian Firm - Holding PharmaEco
                         • India's Transasia Bio-Medical acquires US based companies - Drew Scientific and JAS Diagnostics
December                 • Sun Pharma acquires Generic unit - URL Pharma from Takeda of Japan
                         • Indian Pharma exports grew over 23% in 2011-12: Pharmexcil
  2012                   • India's Claris forms a JV with Japan's Otsuka for Injectables and Nutrition business in a INRs. 1313
                           Crores transaction
                         • Strides Arcolab inks pact with Eli Lilly for cancer drugs




                         • GSK to spend $904 mn to lift stake in India arm
                         • Mexico keen on investments from Indian pharmaceuticals companies
                         • India's Trivitron Healthcare acquires Finnish diagnostics technology firm - Ani Labsystems for
                           €15.8 Mn (about R110 Cr).
November                 • India's Cipla offers over Rs.1,200 cr to buy 51 % in Cipla Medpro (S.Africa)
  2012                   • India's Panacea Biotec announces strategic alliance with Kremers Urban Inc (USA)
                         • Trivitron Healthcare, India inks pact with Italy-based Diasorin group for Lab devices
                         • Sun Pharma to acquire US-based DUSA for $230 million
                         • Mayne Pharma group, Australia inks licensing & distribution agreement with India's Intas Pharma




 Source: Press Release, Company websites     © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                           Page 20
The year 2012 showed some big investment and joint
collaboration taking place in India (2/3)
                         • Fidelity invests $75 million in India's Trivitron Healthcare
                         • Pharma industry creates 2nd most # of billionaires
                         • Australia's Phosphagenics licences injectable technology to Strides Acrolab, India
                         • Transasia Bio-Medicals Ltd., India’s largest IVD Company Acquires Maxmat S. A., France
                         • India's Lupin Eyes 15 New Drug Launches in U.S. by March 2013
 October                 • Dr.Reddy's Lab (India) to acquire Netherlands's pharma company- OctoPlus NV for 27.4 million
                           Euros
  2012                   • Mylan Inc acquires India's SMS pharmaceuticals units for $33 millions
                         • Sanofi investing $300 million in India's Shantha Biotechnics facility for Insulin production
                         • India & China dominates again in BioSpectrum Asia survey
                         • India's Advinus collaborates with Japan's Takeda in a $90 Million development deal
                         • India US announce Joint Research in BT




                         • DBT and ABLE roadmap for a $125B by 2025 Biotech industry from $4B in 2011
                         • Piramal to launch own innovative drug in EU
                         • Panacea forms JV with US’ Osmotica
September                • India to fund joint medical research project with Cambridge University
   2012                  • India drug patent on rise- records 3,488 patent in 5 years (2005 - 2010)
                         • Alembic Pharmaceuticals enters into license agreement with Accu-Break (USA
                         • Suven Life Sciences secures four products (NCEs) patents




 Source: Press Release, Company websites    © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                    Page 21
The year 2012 showed some big investment and joint
collaboration taking place in India (3/3)
                               • Australia welcomes research deal with India worth 2.8 million Australian Dollar
 August 2012                   • Piramal Imaging & IBA Molecular enter pact for diagnostic imaging agent
                               • Lupin and Novartis in marketing tie-up



                               • Serum acquires Dutch firm Bithoven for $100M
   July 2012                   • AstraZeneca & Cellworks to design TB therapies
                               • Biocon pacts with Bristol Myers for oral insulin development


                               •   Novozymes & Praj to jointly develop Biofuels
                               •   Abbott sets Nutri research center with Biocon
   June 2012                   •   India, Australia collaborate for scientific research
                               •   Advinus Therapeutics Ltd. and P2D Bioscience enter into a R&D collaboration for ADHD
                               •   German Drug Maker Boehringer To Acquire For OTC Brands In India



                              • Piramal acquires Decision Resources Group, LLC a health-care research provide for $635
   May 2012                     million




                               • Merck to set up $150M vaccine lab in Delhi
   April 2012                  • Piramal acquires Imaging R&D portfolio of Bayer



 Source: Press Release, Company websites     © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                   Page 22
Majority of Indian states host Life Science business centres
in India (1/2)
The Indian Diverse geography caters to many Life Science business centres in India

City                     Major Companies
Mumbai                   Sun Pharma, Lupin, Wockhardt, Glenmark, USV, Ipca, Indoco Remedies, Bharat Serum and Vaccines
                         Ltd, Cipla, FDC, Most MNCs
Ahmedabad                Zydus, Cadila, Intas, Torrent, Dishman, Helios, Claris Lifesciences

Hyderabad                Dr.Reddy’s, Aurobindo, Suven LifeSciences, Divi’s, Hetero, Shantha Biotech, Granules India, Natco
                         Pharma, GVK Biosciences
Bengaluru                Biocon, Micro, Strides, GSK,Advinus, AstraZeneca, Aurigene, Avesthagen, Bal Pharma, Biozeen,
                         Bayir Group, Bhat Bio-tech, Camson Bio technologies, Global Calcium, Indigene Life system
New Delhi                Ranbaxy, Panacea, Jubilant Life Sciences, Advanced Life Sciences, Akum Drugs & Pharma, Dr. Lal
                         Path Labs, JagsonPal Pharma, Life Medicare & Biotech, Mankind Pharma, Medicamen Biotech,
                         ModiMundi Pharma, More pen, Nestor Pharma, Ozone Pharma & Ayurvedic
Chennai                  Orchid, Shashun, Tablets India, TTK Healthcare, Amrutanjan Health care, Arvind Remedies, Axon
                         Drugs, Bafna, Caplin Point Labs, Cholayil, Fourrts India Labs, Life Cell International, Malladi Drugs &
                         Pharma, Medopharm, Nutra Specialities
Pune                     Bilcare, Serum India, Advinus Emcure, Acoris Research, Hindustan Antibiotics, National Chemical Lab,
                         Vlife Sciences
Navi Mumbai              Reliance Life Science, Pfizer India, Wanbury, Alkem Pharma, Lilac Medicare, Thyrocare Technologies




 Source: IndiaBioscience.org                © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                       Page 23
Majority of Indian states host Life Science business centres
in India (2/2)
The Indian Diverse geography caters to many Life Science business centres in India

City                      Major Companies
Chandigarh                Surya Pharma, Nectar Life Sciences, Ind-Swift Labs


Vishakhapatnam            Falcon Biotech, Vijaynagar Biotech Ltd, Actimus Biosciences Pvt.Ltd, Eisai Pharmatechnolgy Ltd,
                          Techno med systems
Baroda                    Alembic Pharma, Ambrosia Ltd, Divine Laboratories, Hindustan Biosynth Ltd, Sterling Biotech Unicure
                          Remedies
Noida & Gurgaon           Ranbaxy Labs, Jubilant Life Sciences


Thane                     Aarti Drugs, Calyx Chemicals & Pharmaceuticals Ltd, Kremoint Pharma, Herbert Brown
                          Pharmaceuticals & Research
Kolkata                   Adinath Bio-Labs, Allister Biotech, Krish Biotech, Allen India Ltd, Albert David Ltd, East India
                          Pharmaceuticals Works, Emami, TCG Lifesciences
Indore                    Alpa Laboratories, Syncom Healthcare, Biofil Chemicals & Pharmaceuticals Ltd, Cyano Pharma,
                          Parenteral Drugs India Ltd




 Source: IndiaBioscience.org                © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                       Page 24
India has active Public and Private Institutes focused on
research covering spectrum of Lifesciences (1/2) (Few centers
listed below)
     City       Centres
   New Delhi    All India Institute of Medical Sciences,                          International Centre for Genetic Engineering &
                Institute of Genomics and Integrative Biology, (IGIB)            Biotechnology (ICGEB)
                National Institute of Immunology, Institute of Cytology           Jawaharlal Nehru University
                and Preventive Oncology (ICPO)                                    TERI University, Nizam's Institute of Medical Sciences
   Bengaluru    National Centre for Biological Science (NCBS) , National         University of Agricultural Sciences, Jawaharlal Nehru
                Institute of Mental Health and Neurosciences                      Centre for Advanced Scientific Research, Indian Institute of
                Stem Cell Institute                                              Science (IISc)
   Hyderabad    Ashoka Trust for Ecology and the Environment                      LV PRASAD EYE INSTITUTE
                 International Crops Research Institute for the Semi-             National Institute for Nutrition
                Arid Tropics (ICRISAT)                                            Indian Institute of Chemical Technology
                 Centre for Cellular and Molecular Biology (CCMB)
     Pune       Agarkar Research Institute                                       ,National Institute of Virology (NIV),
                Indian Institute of Science Education and Research               Microbial Containment Complex
                National Chemical Laboratory (NCL)                               The National Centre for Cell Sciences
                 National AIDS Research Institute (NARI)
    Mumbai      Advanced Centre for Treatment                                    Indian Institute of Technology Bombay (IIT- Bombay)
                Research and Education in Cancer                                 Tata Institute of Fundamental Research (TIFR)
                Bhabha Atomic Research Centre (BARC)                              University of Mumbai
                Bombay Natural History Society
  Ahmedabad     National Institute of Pharmaceutical Education and               The Gujarat Cancer & Research Institute
                Research (NIPER)                                                  Institute for Plasma Research
                National Institute of Occupational Health (NIOH)                 Indian Institute of Management Ahmedabad (IIM-A)


                                           © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                                  Page 25
India has active Public and Private Institutes focused on
research covering spectrum of Lifesciences (1/2) (Few centers
listed below)
     City       Centres
   Kolkata      Bose Institute                                          Indian Institute of Science Education and Research
                Indian Institute of Chemical Biology                    Calcutta Medical Research Institute
                Indian Statistical Institute                            Marine Engineering & Research Institute
                Jadavpur University                                     Indian Institute of Management (IIM- C)
                University of Calcutta
    Nagpur      Central Institute for Cotton Research                   National Environmental Engineering Research Institute
                National Research Centre for Citrus (NRCC)              (NEERI)
                Indian Bureau of Mines                                  National Institute of Intellectual Property Management
                National Bureau of Soil Survey and Land Use             (NIIPM)
                Planning
   Lucknow      Birbal Sahni Institute of Palaeobotany                  Industrial Toxicology Research Centre (ITRC)
                Central Drug Research Institute                         Indian Institute of Sugarcane Research (IISR)
                National Botanical Research Institute

   Chennai      Indian Institute of Technology Madras                   The National Institute of Epidemiology (NIE)
                University of Madras                                    CENTRAL LEATHER RESEARCH INSTITUTE (CLRI)
                National Institute for Research in Tuberculosis




                                        © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                          Page 26
M&A Activity: India as an emerging market is gaining
widespread attention (1/2)
With patent cliff and weak pipeline, there is a continuous pressure on Global companies to explore
avenues including generic business in emerging markets
Recent M&A transactions of Indian Pharma

  Indian Co.                           MNC (acquirer)                                  Nature of Deal
  Wockhardt                            Danone                                          Acquisition for US$ 350 Million (2011)

  Paras Pharma                         Reckitt Benckiser                               Acquisition for US$ 726 Million (2010)

  Piramal Healthcare                   Abbott                                          Acquisition of domestic Formulation business
                                                                                       for US$ 3.7 billion (2010)

  Dabur                                Fresenius                                       Acquisition of 73. 3% stake for Euro 139
                                                                                       million (2008)
  Ranbaxy                              Daiichi Sankyo                                  Acquisition for US$ 4.6 billion

  Shantha Biotechnics                  Sanofi-Aventis                                  Acquisition for US$ 781 million (2009)

  Orchid                               Hospira                                         Acquisition for US$ 400 million (2009)

  Matrix                               Mylan                                           Acquisition for US$ 736 million (2006)

 Source: India Pharma Inc. Enhancing value through Alliances and Partnership – E&Y 2011.


                                              © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                              Page 27
M&A Activity: India as an emerging market is gaining
widespread attention (2/2)
Recent M&A transactions of Indian Pharma

  Indian Company                                    MNC (acquirer)                                Nature of Deal
  Vetnex Animal Health Ltd (earlier                 Pfizer (Animal Health Business)               NA (2009)
  ICICI Venture acquired from Ranbaxy)


  Wockhardt (Animal Care Subsidiary)                Vetoquinol SA (France)                        NA (2009)




             Pharma MNCs are facing challenges of impending patents and rising R&D expenditure.
      They are looking for opportunities to increase the drug pipeline and reduce costs. In addition, given the
    pressures of reducing healthcare costs and the increasing use of generics, pharma MNCs are also looking to
                     partner with companies with superior product development capabilities.




 Source: India Pharma Inc. Enhancing value through Alliances and Partnership – E&Y 2011.; * International journal of Pharmaceutical
 Development & Research- Vol-04, May 2012
                                               © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                             Page 28
List of acquisitions by Indian companies in 2011-12 (Indicative)
Zydus has been the most active with involvement in 3 acquisitions


 Company           Acquisition                Market                   Consideration                Rationale

                                                                                                    Strengthens Cadila’s presence in
 Zydus Cadila      Biochem                    India                    Not disclosed                domestic formulations market
                                                                                                    especially in the anti-biotic segment

                                                                       Not disclosed                Expands presence in the animal
 Zydus             Bremer Pharma              Mainly Europe
                                                                                                    healthcare business

                                                                                                    Allows presence in the controlled-
                                                                                                    release drugs segment in the US with
                                              United States                                         product portfolio and
 Zydus Cadila      Nesher Pharma
                                              (Generics)                                            manufacturing capabilities; step to
                                                                                                    strengthen presence in the US
                                                                                                    generics market


                                                                                                    Allows the company to enter the US
                                                                                                    penicillin-containing anti-bacterial
                   GSK’s Penicillin           United States
 Dr. Reddy’s                                                           $ 20 million                 market segment with brands
                   manufacturing facility     (Generics)
                                                                                                    such as Augmenting and Amoxil and
                                                                                                    diversify its generics portfolio in the US




 Source: Company Websites, Press Releases
                                            © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                                   Page 29
Indian Companies prefer Expansion Pill to expand and
cater wide geographies
Already established in regulated and semi-regulated markets
 Indian Co.           MNCs                                 Nature of Deal
                                                                                                           Mergers & Acquisitions are now
 Lupin                I’rom Pharmaceuticals (Japan)        Undisclosed amount
                                                                                                           a days play a key role in Indian
                                                           (2011)
                                                                                                           Pharma. India stood in top 5
                                                                                                           countries in the year 48
                      Research and development             $20 million upfront                             transactions, total value of 4.9
                      (R&D) agreement with Medicis         payment from Medicis                            USD millions.
                      Pharmaceutical                       (2011)
                                                                                                           USA stood in first, next is
                      Hormosan Pharma GmbH, a              Amount not disclosed
                                                                                                           Germany and countries like
                      Generic Company in Germany.          (2008)
                                                                                                           China, Brazil ranked after India.
 Dr.Reddy’s           GSK (completion of the               Amount not disclosed                            Indian pharmaceutical
                      acquisition of US penicillin         (2011)                                          companies have spent close to
                      facility and products from                                                           $1.4 bn in acquiring companies
                      GlaxoSmithKline)                                                                     globally in the past 18 months.

                      BASF’s Pharmaceutical Contract       Amount not disclosed                            With access to capital, higher
                      Manufacturing Business               (2008)                                          staying power because of low
 Biocon               AxiCorp Pharmaceuticals              Acquired majority stake                         costs, and managements willing
                                                           of 70% (2008)                                   to globalize, this trend will
                                                                                                           continue. (2010)*
 Glenmark             Medicamenta                          Amount not disclosed
                                                           (2007)


 Source: Company Websites, Press Releases

                                              © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                                   Page 30
List of JV/Alliances among Indian players(Indicative)

 JV/ Alliances               Market                       Rationale
                                                          JV would develop, manufacture and market branded generics across emerging
                                                          markets;
                                                          Sun Pharma’s contribution: Leveraging on SPARC’s R&D pipeline and
 Sun Pharma – Merck          Emerging Markets
                                                          manufacturing capabilities
                                                          Merck’s contribution: Market presence and regulatory competence across
                                                          emerging markets

                             Emerging Markets             Based on similar structure; DRL would manufacture products; while GSK would
 Dr. Reddy’s – GSK
                                                          distribute in Latin America, Africa, Middle East and Asia

 Cadila Healthcare – Bayer
                                                          Primarily a co-marketing arrangement with focus on certain therapy segment
                             India                        With product patent regime, Indian players are collaborating with MNCs by in-
                                                          licensing patented products in India

                                                          Cadila Healthcare would license 24 branded generics to Abbott for 15 emerging
 Cadila Healthcare –
                             Emerging Markets             markets; collaboration includes pain management,
 Abbott
                                                          oncology, CVS, neurological and respiratory diseases

                                                          Primarily a co-marketing arrangement with focus on insulin segment
 Lupin – Eli Lilly           India                        Aimed at leveraging on Lupin’s marketing & distribution footprint in India and
                                                          Eli Lilly’s product portfolio in the insulin segment

 Biocon – Bristol Myers                                   Partnership in the research space with focus on discovery & development of
                             NA
 Squibb                                                   NCEs. Working on early stage of the development cycle




                                            © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                              Page 31
 Source: Company Websites, Press Releases
List of Alliances & Partnership for Product Sourcing

JV/ Alliances               MNCs                         Rationale
Aurobindo Pharma            AstraZeneca,                 Supply of generic medicines for developed
                            Pfizer                       and emerging markets (2010)



Strides Arcolab Ltd         Pfizer                       Supply of 67 generic drugs to Pfizer with ffocus on oncology (2008)


Torrent                     AstraZeneca                  Supply of 18 products for various market (2010)
Pharmaceuticals



Indoco Remedies             Aspen                        Range of ophthalmic products for 30 emerging markets (2010)

Indoco Remedies             Watson                       Development and manufacture of generic drugs with market size of US$
                            Pharmaceuticals              670 million (2010)

Cadila Healthcare           Altana, Zyban                JV structure for the manufacture of patent drugs (2006)

Torrent                     Novo-Nordisk                 Contract manufacturing of formulations (2010, 2005)
Pharmaceuticals

Strides                     GSK                          Supply of drugs for semi-regulated markets (2011)
Arcolab Limited




 Source: Company Websites, Press Releases   © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                         Page 32
Today, Acquisitions and Partnerships with Indian
companies have expanded to R&D as well
MNCs active in Collaborative Research in India. Previously, they were formed to source out products.

 Indian Company Molecule Indication Nature of Deal Global                                                   Remark
                                                   Partner
Zydus Cadila (2009)         Not disclosed Cardiovascular Collaborative                    Eli Lilly         To discover & Develop new CVS drugs for a
                                                         research                                           span of 6 yrs

Zydus Cadila (2008)         Not disclosed Inflammatory           Collaborative            Karo Bio          To develop a new compound that targets
                                          Diseases               research                                   the Gluco corticoid receptor for treatment
                                                                                                            of inflammatory disorders


Torrent (2005)              Not disclosed Hypertension           Collaborative            Astra Zeneca To discover a novel drug for hypertension
                                                                 research                              for Rs. 1.2 Billion


Suven Life Sciences         Pre- clinical    CNS                 Joint Development        Eli Lilly         Partnering deal for early phase research
(2006)                      drug                                                                            for discovery of NCEs
                            candidate



“Alliances and acquisitions for drug discovery, diagnostics and clinical research is taking place throughout India. Such deals will provide mutual
advantage to both partners. While the MNCs benefit by replenishing pipelines, addition to product portfolios or establishing a local presence in the
emerging markets, the Pharma/ biotech companies gain in technology expertise and much needed funds for research and expansion,”

Dr Ajaykumar Sharma Practice Head - Pharma Healthcare South Asia & Middle East, Frost & Sullivan) Opportunities Galore for India's Biotech
Industry – Express Pharma (1-15 Feb, 2012)

Source: Company Websites, Press Releases           © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                                        Page 33
MNCs outsource their research work to Indian firms owing to it’s rich
 domain expertise. Contract research is an established operating model
   R & D services agreements by Indian companies
  Indian Firm                        MNC Partner                      Purpose                                 “As rightly pointed out by Ernst & Young in
  Orchid Chemicals                  Bexel (2006)                      Drug discovery                          its ‘Beyond Borders 2005 Report’, for
                                                                      research in metabolic                   biotech companies,
                                                                      disease
                                                                                                              >> “Partnerships are an important means of
  Biocon                            BMS (2009)                        Contract Research for
                                                                                                              mitigating risk, as well as a strategic
                                    Pfizer (2010)                     Bulk drugs
                                    Mylan (2009)                      Biosimilars                             response to business challenges..

  Jubilant Organosys                Eli Lilly                         NCE : CVS, CNS,                         >> Since drug development is an inherently
                                    (2005)                            Diabetics, Oncology,                    high-risk business, characterised by large
                                    Astra Zeneca (2009)               Neuroscience                            R&D investments and relatively small
                                                                                                              probabilities of success, partnerships will
  Divis Labs (years data not        Merck                             Custom chemical                         always be an important factor in diversifying
  available, but MNCs name          Abbot                             synthesis                               and mitigating risk.”
  mentioned in public domain)       GSK
                                                                                                              >> According to Karkaria, partnerships are
                                                                                                              also one of the ways of entering newer
  Shasun Pharmaceuticals Ltd.       Aventis (1998)                    Contract Research &
                                    Eli Lilly (2001)                  Custom synthesis                        potential markets. (Dr Cyrus Karkaria
                                    GSK                               services                                President Biotechnology, Lupin)
                                    Teva
                                                                                                              Source: Opportunities Galore for India's
  Clinigene                         Pacific Biomarkers (2011)         Collaborative research                  Biotech Industry – Express Pharma (1-15
                                                                      services agreement to                   Feb, 2012)
                                                                      global pharmaceutical
                                                                      and biotechnology
                                                                      industry
Source: Battling with TRIPS: Emerging Firm Strategies of Indian Pharmaceuticals Industry Post – TRIPS, Journal of Intellectual Property Rights Vol.
13, July 2008, pp 301- 317                             © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                                     Page 34
Indian Firms Are Looking For Partnerships, Investment,
Licensing or Acquisitions of,

    Innovative compounds                                                                   Co-Development
       and technologies                                                                     Opportunities




                                        Novel Drug Delivery
                                             Systems




    Manufacturing in IN and                                                           Companies in Regulated
           the US                                                                           markets




                              © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                       Page 35
About Aagami – Who we Are

Aagami ,Inc. is a life sciences consulting firm based in the suburbs of Chicago, offering Strategic Consulting
and Technology Licensing Services for Life Science (biotech, pharmaceutical and medical devices) companies,
focused on India and Emerging Markets.




Aagami Partners bring several decades of operational experience globally, connections at C-Level people with Indian
Life-sciences companies and most importantly deep knowledge of India-business-practices.




The company has supported small and large life science companies from all over the world, mainly in the United
States, Europe, India, Australia, and Japan in their quest for Indian market and or resources.




These services include finding right service providers, right alliance partners, JV partners, M&A Targets, Contract
Sales/Marketing company, In-Licensing or Out-Licensing deals etc., in the business of Life Sciences including Investing
either way.




                                       © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                 Page 36
Aagami Strategic Consulting offers services in,

 In-Licensing or Out-Licensing


 Co-Development and Partnerships


 Mergers & Acquisitions


 Investments to and from India


 Finding the Right

  •   JV partners and/or Distributors
  •   CRO and CRAMS providers
  •   Contract Sales/Marketing companies
  •   Contract Manufacturing companies
                                © Aagami, Inc. 2013 | All rights reserved | www.aagami.net   Page 37
Our Value Proposition:



We Bring,


                       Deep
                                                     Extensive network                    Deal experience        Extensive
Dedicated team         Understanding of
                                                     with top 100 Indian                   with Western,       Operational
with focus on Client   business and socio-
                                                     LS companies at                       Japanese and       Experience and
success                cultural differences
                                                     CXO levels                           Indian industry   Excellence Globally
                       in ways of working




                                        © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                       Page 38
Sample list of Aagami Clients

                    USA                                               International Clients
 Company                  Location                        Company                       Location
 Dow                         MI                           Solvay                        Belgium
 Aegis                       CA                           Delmar                        Canada
 Advangene                    IL                          SOM Biotech                   Spain
 MacuCLEAR                   TX                           Phosphagenics                 Australia
 DesignMedix                 OR                           NanoSensing                   Brazil
 Unitech Pharma              MI                           Affitech                      Denmark
 Loyola U Chicago             IL                          Ilsan Ilvac                   Turkey
 MW Univ.                  IL, AZ                         Pieris                        Germany
 PLx                         TX                           Toppan                        Japan




                           © Aagami, Inc. 2013 | All rights reserved | www.aagami.net               Page 39
Aagami Approach....
   Prepare ‘Elevator Pitch’ on
    client technology and/or                       Identify Relevant
    company customized to                                                                     Broadcast EP to Relevant
                                                 Companies from our
    Specific business culture                                                                   Companies by Email
                                                Database and resources
        e.g. India, Japan




                                                Coordinate CDAs with
    Organize a road show to
                                             interested Companies, and                        Follow-up with phone calls
     India along with client
                                             supply further info through                            and emails etc.
        representative/s
                                             emails and conference calls




    Take appointments with                                                                    Support in structuring and
                                              Coordinate the logistics of
       right executives in                                                                    negotiations for finalizing
                                                   the road show
     interested companies                                                                            the deal(s)




                                 © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                              Page 40
Realizing Possibilities

Let’s get in touch…                           Talk to us or drop by…
Join us in our conversations at,

    Global Life Science                                                    Dinesh Jain, Founder CEO
     Business in India                                                             +1 630-853-3520
                                                                                  Dinesh@aagami.net
     Our Linkedin group initiative
                                                USA (Head Office)                                  INDIA
                                                2020 Calamos Ct. Suite 209                         Crystal Plaza, Level 2, 276 C B Road,
                                                Naperville, IL 60653                               Ramdaspeth, Nagpur – 440010
 Aagami Home                                    Phone: +1-630-799-1572                             Phone: +91-787-501-6957
         www.aagami.net
                                                Godwyn Francis                                     Nidhi Bansod
                                                Head –Business Development                         Head – Business and Market Research
   Research Reports, Presentations,             godwyn@aagami.net                                  nidhi@aagami.net
       Newsletter, and more…                    Phone:+1- 630-780-5830



Supporting Global companies in Lifesciences to meet success with their India Initiatives…….


                                      © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                                     Page 41
SOME MORE INTERESTING FACTS ABOUT INDIA




                © Aagami, Inc. 2013 | All rights reserved | www.aagami.net   Page 42
India home to large number of rich as well as poor classes
 Has more Billionaires than Britain, and more poor people than Africa.


India has more number of billionaires than France, UK &
Switzerland. India has a sizeable rich population. India is at the
number four spot on an international list compiled by Forbes
magazine, based on the number of billionaires a country produces.
                                                                                        Poverty has been on the decline. According to official
                                                                                        government of India estimates, poverty declined from 37.2% in
                                                                                        2004-05 to 29.8% in 2009-10. Rural poverty declined by 8
                                                                                        percentage points from 41.8% to 33.8% and urban poverty by
The combined net worth of the 2012 class of the 100 richest                             4.8 percentage points from 25.7% to 20.9% over the same
Indian's is $250 billion, up from $241 billion a year ago. India                        period.
currently has 61 billionaires. (Forbes, October 2012)



                                                                                        The government is now investing in a set of pioneering
In 2008-09, India had 84,000 HNWIs. By 2010, it had risen by 50                         initiatives to bring basic services to the poor – in elementary
per cent (126,700), the biggest increase of all countries.*                             education, basic health care, health insurance, rural roads, and
                                                                                        rural connectivity.



                                                                                        In spite of recent poverty declines with its rapid economic
Source: *Dollar Billionaires in Poor Countries: India’s “Philantrocapitalism”-          expansion, India still has high poverty rates according to a
Global Research, Sept 10, 2012; Blog- World Bank on Poverty Across India in             2011 World Bank report titled "Perspectives on poverty in India :
2011-http://www.riazhaq.com/2011/05/world-bank-on-poverty-across-india-                 stylized facts from survey data" released in 2011. Overall, the
in.html;                                                                                latest World Bank data shows that India's poverty rate of 27.5%,
Wikipedia- List of countries by the number of US dollar billionaires;
                                                                                        based on India's current poverty line of $1.03 per person per
http://www.worldbank.org/en/country/india/overview
                                                                                        day

                                                        © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                                 Page 43
India has a well established Education system with
 Abundant Talent
         India has one of the largest school- age population in the world. It has well established education systems with
          more than 1.6 million schools enrolling in excess of 130 mn students
         For higher education, India has more than 500 universities as well as more than 25, 000 colleges and 7000
          technical institutions with approximately 13 million students.

                                                                                      Education bodies                               Total numbers
   Stream                          Post graduate       Under graduate                                                                in India
   Science                         382619                    2000374                  Universities                                   409

   Engineering/technology/         95185                     1663691                  Number of Arts, Fine arts, social work,        25990
   architecture/ design                                                               Science &
                                                                                      commerce ;
   Medicine                        31025                      273366                  Engineering/technology/architecture;
   Management/hotel/travel         125002                     181277                  Medical ; Education/teacher trainings ;
   /tourism                                                                           Others
   management
   Education/teacher training      460490                     460490                  INDIA offers a large, well-educated, English-
   Law                             11625                      203577                  speaking workforce with 700,000 scientists
   Arts                            660516                    5108233                  and engineers graduating every year,
   Commerce                        189603                    1699263
                                                                                      including 122,000 chemists and chemical
                                                                                      engineers, with 1,500 PhDs#
   Ph.D./M.Phill                   78388                        NA
 Note: Figures -Sanctioned intake per million (August 2011)
Source: Report of the Working Group On Science & Technology, Human Resource Development For 12th Five Year Plan (2012-17)- Ministry of Science &
Technology, GOI- Sept 2011. Source: Higher Education Statistics Report 2008-09 by MHRD, (Up to 30 Sept 2008); Report of the Working Group On Science
& Technology, Human Resource Development For 12th Five Year Plan (2012-17)- Ministry of Science & Technology, GOI- Sept 2011; * - India’s
Contribution to the World- http://yousigma.com/interestingfacts/indiasgifttotheworld.pdf, #- Sector Profile Indian Life Sciences – Issue 59- August Page 44
                                                   © Aagami, Inc. 2013 | All rights reserved | www.aagami.net
2011http://www.indodutchconnect.com/app/webroot/pdf/newslatter/issue_59/indian_life_sciences.pdf
NRIs (PIOs – People of India Origin) constitute a global
community of over 25 million people
 Region                                                                                                    Population
 North America (Mostly USA & Canada)                                                                       4.0 Million
 South America (Trinidad & Tobago, Guyana, Surinam, Jamaica, etc.)                                         1.6 Million
 Europe (U.K., Netherlands, Germany, Austria, Switzerland, etc.)                                           2.5 Million
 Africa (South Africa, Mauritius, East African countries, etc.)                                            2.7 Million

 Middle East (UAE, Saudi Arabia, Kuwait, etc.)                                                             3.6 Million
 Far East & South East Asia (Malaysia, Singapore, Myanmar, etc.)                                           5.0 Million
 Pacific Island (Fiji, Australia, New Zealand)                                                             0.7 Million
 Sri Lanka and Nepal                                                                                       4.9 Million

 Total                                                                                                     25.0 Million

 Note: Since hard numbers have not been available, these are approximate estimates and obtained from individual country statistics
 and from the report of the High Level India Diaspora Committee appointed by Govt. of India




 Source: NRIs/PIOs and India – Mutual Expectations
 Dr. Thomas Abraham- Chairman, Global Organization of People 2013 | All rights reserved | www.aagami.net
                                                 © Aagami, Inc. of Indian Origin (GOPIO), Inc.                                       Page 45
This is what Einstein and Duff had to say about India



    “We owe a lot to the Indians, who taught us how to count without which no worthwhile scientific
    discovery could have been made”

                                                                                                Albert Einstein




    “Many of the advances in the sciences that we consider today to have been made in Europe were infact
    made in India centuries ago”
                                                                      Grant Duff - British Historian of India




                                   © Aagami, Inc. 2013 | All rights reserved | www.aagami.net                     Page 46
THANK YOU
        END OF DOCUMENT




 © Aagami, Inc. 2013 | All rights reserved | www.aagami.net   Page 47

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Amazing Facts and Figures - A compilation by Aagami

  • 1. INDIA Amazing Facts and Figures Dinesh Jain, Founder CEO Connecting Global to India | Realizing Possibilities Page 1
  • 2. “India is no longer seen as a America's back office. India has moved up the value chain as a America's knowledge partner. We need help from the Indian companies in job creation. If Indian firms can create jobs for the hinterland of America, it will dispel anti - sourcing rhetoric.” - Ron Somers, President, US India Business Council | January 2011 “This coming year, I believe Indian participation at Davos can highlights the country's thought leadership. At time when the world is searching for a new model of economic development, India's experience as a crucible for new types of inclusive growth gives its a special role among developing countries.” - Klaus Schwab, Founder & Chairman, World Economic Forum | February 2010 “India is the cradle of the human race, the birthplace of human speech, the mother of history, the grandmother of legend, and the great grand mother of tradition. Our most valuable and most constructive materials in the history of man are treasured up in India only” - Mark Twain, American Author 1835- 1910 © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 2
  • 3. Overview of Contents India – an Introduction India LifeSciences Industry Snapshot Major Centers of Lifesciences in India – Public & Private Major International Deals with India by Global Companies What Indian LifeSciences firms are Looking for About Aagami and how it supports global companies in their India Initiatives © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 3
  • 4. India – A Brief Introduction India - Population of continent Africa- 1 Billion (second most populous Continent)** - 15% of the world's human population Africa India compares in population with these - Nation of 1.21 Billion population* continents although it is a - 17.5% of world human population single country. - 28 states & 7 union territories Europe Union - Population of Continental Europe – 739 Million -~ 10% of the world's human population Source: Africa Population- Explore DIA, Africa Population 2013, Europe Union Population- 502.5mn Euro stat News Release-July 2011; The EU in the world – population - EU contributes in world population http://epp.eurostat.ec.europa.eu/statistics_explained/index.php/The_EU_in_the_world_- _population; India -India Online pages- Population for 2011, India contributing to world population : India today. in © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 4
  • 5. India – A Brief Introduction A Treasure of Languages in India One of the Oldest Civilizations • There are 22 official languages in India. While • India civilization is one of the oldest civilizations The number of languages spoken in India, as per of the world even older than Egypt and The Economist are 438 with English most widely Mesopotamia. spoken and used in interstate communications. – Economist also has a Greenberg diversity index which • Indian civilization is 8000 year old. measures the probability of two random citizens – Latest research has put the date of the origin of the sharing the same mother tongue. An index of 1 being Indus Valley Civilisation at 6,000 years before Christ, no two people picked at random would be speaking which contests the current theory that the settlements the same language, India’s Greenberg diversity around the Indus began around 3750 BC stands at 0.94. – India invented the Number System. Zero was invented – On sheer number of languages spoken, India stands by Arybhatta. fourth behind Papua New Guinea (830), Indonesia – The place value system, the decimal system was (719) and Nigeria (514). On the diversity index, India developed in India in 100 BC. (0.94) stands third behind Papua New – The Algebra, Trigonometry & Calculus came from India Guinea(0.99) and Congo (0.95). – The world university was established in Takshila in 700 • English is widely spoken in India. The BC subcontinent ranks third in the world, after the – Even today some ancient traditions are still practiced USA and UK in terms of English speakers • Though so old in existence, India is a nation, • In education, English is the most common which is considered to be youngest in its medium (87% of all the situations). demographics. We have about 550 million – English is the language of the legal system, higher youth in the nation. education, pan-regional administrative network, – With more than 50 percent of the population below 30 science and technology, trade and commerce years of age, India today has an advantage of the demographic dividend. • India is the largest democracy in the world Source: Languages in India, Vol 3- 5 May 2003, Indus Valley 2,000 years older than thought- Hindustan Times -November 04, 2012, Silver Evolution- http://silverevolution.wordpress.com/2011/12/07/india-youngest-nation-today-silver-tomorrow/ http://eci.nic.in/eci_main1/eci_news/AddressbyDrAPJAbdulKalam.pdf © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 5
  • 6. Economic Indicators of India – Fast growing and Stable • India demonstrates faster and stable growth than most other countries in the Dow Jones list of 2000 INDIA GDP 1847.98 emerging economies Billions of US Dollars 1729.01 1800 1600 • Indian economy ranks 3rd largest in the world in 1380.64 1400 PPP (Purchase Power Parity) 1242.43 1213.78 1200 951.34 • India is expected to become the second largest 1000 economy in the long run. 810.15 800 700.92 599.46 600 507.19 • Among emerging markets, India is next only to China with respect to share in world GDP 400 200 • Among emerging markets India has one of the 0 most favourable tax regimes, a very crucial factor 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 for business growth – On the scale of most favourable tax rate score where 10 was least tax (10= least tax), India score Years was 8 Source: www.tradingeconomics.com| | The World Bank Group • India contributes total 6% in world GDP (PPP) 2011 • As per the Nielsen Global Consumer Confidence • The country’s GDP has been growing at an average rate of Index (various reports), Consumer confidence 8.6% for last five years has been consistently above the world average Source: India The Incredible Investment Destination , Fact Book- Dept. Of Economic Affairs, Ministry of Finance, GOI, June 2012, IMF World Economic Outlook (April 2012) © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 6
  • 7. India’s Robust Macroeconomic Performance Key Parameters 2005-06 2011-12 Change Real GDP (INR Billions) 32, 542 52, 220 60 % higher Real Per capita GDP (INR) 33, 548 46, 221 38% higher Investment/ GDP (%) 35.8 37.6 5% higher Exports (US $ bn) 103 303 194% higher General Government Gross Debt (% GDP) 77.4 64.9** 16% lower Workers Remittance (US$ bn) 28.0+ 63.7++ 127% Gross International Reserves (US $ bn) 151# 294## 94% higher Foreign Direct Investment inflow (US $ bn) 9.1 46.8 414% higher Foreign Direct Investment outflow (US$ bn) 6.1 25.8** 323% higher Source: Reserve Bank of India data (as on March 2012, IMF WEO Database April 2012, ** FY 2010- 11, + for calendar year 2006, ++ for calendar year 2011, , # as on 31 March 2006, ## As on March 2012; Department of Economic Affairs, GOI © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 7
  • 8. India’s Key Strengths include.... Stable financial systems, healthy sectoral diversity of economy, highly educated workforce and openness in Trade • Good growth prospects supported by ongoing economic India outperforms other fast growing economies liberalisation and strong domestic demand in terms of change in openness • Stable financial system, Strong external liquidity position • High degree of political stability in comparison to many countries India 170 • Vibrant, transparent and high-yielding capital markets • High savings and investment ratios Russia 97 • Strong and competitive private sector B Brazil • Low susceptibility to event risk E S.Africa • Steadily rising government revenues Mexico 74 T China T China 74 E Mexico • Healthy sectoral diversity of economy R Russia • Largely local currency denominated debt S.Africa • Conducive investment climate 40 India • Strong financial regulatory framework • High growth in exports Brazil 40 • Strong demographic advantage • Highly educated work force 0 50 100 150 200 • Innovative society India’s economy has strong fundamentals & is host to The country ranks higher than many countries in key several eminent global corporate giants that are leaders parameters such as market size (4th) & innovation in their respective fields. According to the Global (39th) . India has also a good financial market (17th) Competitiveness Report 2010-11, India ranks at 51 among 139 countries Source: Department of Economic Affairs, Government of India, Doing Business in India- E&Y report , 2011, World Bank GDI Database © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 8
  • 9. India : Increasing foreign assets Foreign Reserves have grown from 54.1 USD mn in 2001-02 and peaked to 309.7 USD mn in 2007-08. India is hotspot for FDI, much ahead than US and UK as per FDI Confidence Index 2012 High Foreign Reserves India is an attractive destination for FDI 2011-12 294 1.9 2001-02 2 1.7 China 2010-11 304.8 1.8 1.6 2002-03 1.5 1.5 1.5 1.5 1.5 2009-10 279 1.6 1.4 1.4 India 2003-04 1.4 2008-09 251.9 Brazil 2004-05 1.2 2007-08 309.7 US 1 2006-07 199.1 2005-06 0.8 Germany 2005-06 151.6 2006-07 0.6 Australia 2004-05 141.5 2007-08 0.4 2003-04 112.9 0.2 Singapore 2008-09 2002-03 76.1 0 UK 2009-10 2001-02 54.1 Malaysia 2010-11 0 100 200 300 400 South Africa >> India’s net foreign assets are higher than most other Emerging Market Economy (EMEs)* FDI Confidence Index 2012 – India ranked 2nd in the world, an improvement from its 3 rd rank in 2010 >> India’s sovereign net foreign assets is 10.5 % of GDP in EMEs * Source: Department of Economic Affairs, Government of India; * - Fitch Ratings, March 2012; Reserve Bank of India © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 9
  • 10. Lifesciences is a regulated and fast growing industry in India – (1 of 2) Life Science Market - $ 21 billion. Experiencing rapid growth, The Indian healthcare sector is projected to have a CAGR of expected to reach US$ 100 billion Indian healthcare is $65 billion around 25-30% between FY2011 by 2015, $280 billion by 2020. (December 2012) & FY2013* . India accounted for Growing 20 per cent year-on-year 19 per cent of the total revenues (y-o-y), as per rating agency Fitch in Asia Pacific# India Pharma market is expected India is the 3rd largest Pharma to touch US$ 74 billion in Sales The outlook on the Indian market by volume and 13th in by 2020 from the current US$ 11 pharmaceutical industry remains terms of value globally. By 2015, it Billion, according to a favourable, according to a report will rank 10th in world** PricewaterhouseCoopers (PwC) by ICRA and Moody's report. Domestic formulation market India's exports of drugs, The size of the Indian stood at Rs 58,300 crores (US$ pharmaceutical and fine formulations market, which 10.54 billion) and has been chemicals grew by 27 per cent to currently stands at around Rs ranked third in terms of volume Rs 60,000 crores (US$ 10.85 62,000 crores (US$ 11.21 billion), and tenth in terms of value, billion) for the year ended March is growing at 15-20 per cent globally. 2012*** annually. Source: *Aspiring Mind-http://www.aspiringminds.in/industries/life-sciences.html; ** India Pharma 2015- Unlocking the potential of Indian Pharmaceuticals market -> McKinsey & Co; ***Pharmaceutical Exports Council of India (Pharmexil).; IBEF, #- Seven Indian companies among Asia's top 20 life science firms- Deccan Herald , July 6, 2012 Inc. 2013 | All rights reserved | www.aagami.net © Aagami, Page 10
  • 11. Lifesciences is a regulated and fast growing industry in India (2 of 2) Top 10 supplier countries 2011 for UNICEF India boast of over 20,000 pharmaceuticals and biotech Based on country of invoice, in $ millions companies. 60,000 distributors and 700,000 to 800,000 pharmaceuticals retailers.* Supplier Country Amount More than top 20 companies have presence in the regulated India $ 467.00 market (US, Canada, Western EU and Japan) Switzerland $ 299.00 More than 100 companies from India are present in 50+ Belgium $ 239.00 countries. USA $ 183.00 India is known as “Pharmacy of Developing world”. Globally successful in ‘Generics’ France $ 163.00 67% of medicines exports from India go to developing Denmark $ 128.00 countries. Italy $ 54.00 Approx. 50% of the essential medicines that UNICEF United Kingdom $ 37.00 distributes in developing countries come from India Pakistan $ 32.00 75-80% of all medicines distributed by the International Source: UNICEF – Supply Annual Report 2011 Dispensary Association (IDA) to developing countries are http://www.unicef.org/supply/files/UNICEF_Supply_Annual_Report manufactured in India. (IDA is a medical supplier operating _2011_web.pdf on a not-for-profit basis for distribution of essential medicines to developing countries.) If vaccines are excluded, India is the source of approx. 50% of the essential medicines UNICEF distributes in developing countries Source:* -The Right Spice. Pharmaceutical Market Entry in India – Deloitte; http://www.doctorswithoutborders.org/news/access/background_paper_indian_generics.pdf © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 11
  • 12. Indian pharmaceutical industry Today Top 10 Destinations of Indian pharma products Apr-Dec 2010 Huge Export Happening Sr.No Countries Exported To Amount (US$ millions)  India’s largest export destination for Pharma products is still 1 USA 1791.0 the USA, followed by the UK, Germany, South Africa and Russia. 2 UK 263.9 3 Germany 243.6  More than 50 per cent share of exports is by way of dosage 4 South Africa 222.6 forms. 5 Russia 221.4  India currently exports drug intermediates, Active 6 Brazil 165.0 Pharmaceutical Ingredients (APIs), Finished Dosage Formulations (FDFs), Bio-Pharmaceuticals and Clinical 7 Nigeria 154.1 Services to various parts of the world. 8 Kenya 137.3  India had more than 175 US- FDA approved manufacturing 9 Netherlands 131. 7 facility, which makes it the only country outside the US to have highest FDA certified manufacturing facilities (2009) 10 Turkey 119.0 Source: Doing Business in India- E&Y 2011; Growth of Indian Pharmaceutical Source: Directorate General of Commercial Intelligence and Industry: Impact of Indian, US and European Patent Laws and Regulatory Statistics (DGCIS) Kolkata Requirements, July 2012 © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 12
  • 13. Indian companies to benefit from the ongoing wave of patent expiries Details of ANDA filings by Leading Indian companies 100% 7 90% 14 54 38 80% 152 63 77 65 26 70% 10 38 Para IV 60% Pending (Non Para IV) 50% Approved 40% 23 133 30% 225 135 103 69 65 20% 48 DMFs Filing by Indian and Chinese Pharmaceutical 10% Companies (USFDA statistic) 0% Riding on back of the generic opportunity, Indian companies have capitalized on the growth prospects to emerge as formidable players in the US generics markets. Most of the leading players have significantly expanded their Source: Company Reports; ICRA Estimates; Sun Pharma- Includes ANDA filings in line with the patent expiration cycle. filing from Taro. Details of Para IV opportunities of Sun Pharma & Cadila are not available. The quality of the filings by top Indian companies has also significantly improved over the years with complex molecules, INDIAN PHARMACEUTICAL SECTOR Growth drivers strengthen in non-standard categories (i.e. inhalers, injectables, oral the near term; Patent expiries in the U.S. & Europe and domestic contraceptive, ophthalmic etc.) and Para IV/FTFs forming market are key industry Update ; March 2012 increasing share of their pipeline © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 13
  • 14. India Biotechnology & Bio-pharma Sector has witnessed continuous and steady growth Biotech industry crossed revenue of $4161 billion in FY CRAMS sector in India valued at $8.2 Billion with 41.4% 2011- 2012. growth trajectory, Set To Triplicate global average of 12.6% Biotech registers a CAGR of 11.75% during 2008-12 an CAGR Market for Contract Research Organization in India to of 24% during last 10 yrs. double to USD 1 Billion by 2016 •The local $485 million clinical research market is growing at a 11-13% Biopharma dominates the India’s Biotech Industry with he as the country gains increasing favour as a base for global clinical trials (phase I-IV) revenue share of 61.6%. “India's diagnostic market grows at 20%” Abundant speciality health institutions - BioSpectrum Asia , August 2012 •India has 16000+ hospitals •The speciality hospitals in India have all facilities to cater medical tourism. •The diagnostics market in India is witnessing a 20 percent growth which is the faster than any country in the world (the growth in the US •India’s medical tourism business is predicted to generate USD 2.4 billion a is one-to-two percent year by 2012 and is growing at 30 per cent a year. •The diagnostics market revenue in 2011-12 touched $600 million as •Vast range of medical treatments from simple dental procedures to against $510 million in 2010-11 complex cardiac surgeries is being offered by India. •Those patients undergoing treatment in India can save 60%-95% of their treatment cost. Source: BioSpectrum Asia; http://northbridgeasia.com/ResearchReports/Northbridge%20Capital_India%20Hospitals%20Reseach_March%202011.pdf © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 14
  • 15. India’s Paradigm shift towards Innovation Paradigm has shifted from manufacturing quality generics to innovation and novel. India significantly contributes to the growth of the emerging “ hybrid “model Source: A Ringside view of the Pharma Industry, Ranjit Shahani – Country President, Novartis India presentation at ValuexIndia, Mumbai, November 2011 © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 15
  • 16. Global Pharma companies keen to address opportunities offered by fast growing Indian market...... On account of the growth slowdown in Developed countries Other Deals for R&D Type of Alliances Indian company Pharma MNCs Products Glenmark (2004) Forest Asthma & anti Laboratories Lung infection Piramal Research Merck (further Cancer (2007) extension in deal for 2012) Glenmark (2007) Eli Lilly Pain relief Serum Institute of MSD Pneumococcal India (2011) conjugate vaccine The country’s growing capabilities in contract manufacturing, Bristol Myers Squibb (BMS ) uses a slew of alliances, partnerships and R&D and clinical trials also make it a acquisitions to complement its internal capabilities in drug discovery and preferred outsourcing partner for global development. Pharma at every stage of the value chain. BMS calls its string of pearls strategy in which each transaction will be aligned to the company’s focus on specific disease areas.40% of BMS patents and 50% of revenue come from such alliances. Source: India Pharma Inc. Enhancing value through alliances and Partnerships – Pharma Summit- 2011(PwC & CII Report) © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 16
  • 17. Opportunities for Global companies in India Ride on India’s Low production, R&D strength to tap the and clinical trial cost $150 billion generic market As treatment costs are Biotechnology significantly lower with expected to be $8 no waiting period, Billion by 2015 medical tourism is set Huge domestic market, despite price controls, To grow more than an opportunity— 25% over the next five insurance and rural years healthcare Source: http://www.ipapharma.org/pt/July2012/45-49.pdf © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 17
  • 18. Benefits to Global companies by Collaboration with Indian Companies  Pharma MNCs collaborating with Indian companies Enhancing value through alliances and Partnerships bring to table new products, latest technology, higher investments, quality systems and the knowledge of regulatory process  On their part, Indian companies provide local market knowledge, cost advantage and local scientific talents.  Such alliances have the potential to bring significant benefits to both parties and value to society as a whole. Such partnership bring in new drugs and therapies to the market and increase patient's awareness about diseases and wider treatment choices available >> Lilly is currently transforming itself from a traditional fully integrated pharmaceutical company into a fully integrated pharmaceutical network, so that it can draw on a range of resources beyond its own walls. >> Lilly hopes teaming up with the other organization to create virtual R&D programmes will enable it to get better access innovation, reduce costs, manage risks more efficiently and enhance productivity. For example, the Chorus project is a virtual organization to take molecules quickly to proof of concept. >> Lilly also uses external networks comprising third parties such as Piramal Life Science, Hutchinson MediPharma, and Suven Source: India Pharma Inc. Enhancing value through alliances and Life Science in the development of molecules Partnerships – Pharma Summit- 2011(PwC & CII Report) © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 18
  • 19. India’s large pool of scientific manpower and cost advantage will see boom in collaborations  The pharmaceutical industries in the US and Europe are facing severe financial constraints which are expected to worsen in the Relative Comparison - Cost advantage in India(%) years ahead.  The Pharma companies are under increasing pressure to reduce Parameters Total cost in % expenditure due to, the increasing cost of introducing New Cost in Developed 100% Molecular Entities (NMEs) (more than $3 billion in 2008), tightening FDA regulatory issues, blockbuster drugs worth more countries than $100 billion set to expire by 2014 and drying pipelines Production cost in India 50%  These pressures are expected to drive the companies towards low- cost countries such as India to perform their R&D activities, one of R& D cost in India 12.5% their major expenses. Clinical trial cost in India 10%  With increasing pressures on curbing healthcare costs in the US, India’s low-cost manufacturing capabilities coupled with attention Such deals have helped Indian base to gain the to quality (India has the highest number of FDA-approved title of a genuine intellectual contributor manufacturing plants outside the US) will be sought by MNCs  India has a large pool of scientific manpower which can be used in Several pharmaceuticals giant firms like Lilly & drug discovery, development and clinical trials BMS have already begun to use more collaborative  India's diverse genetic pool of treatment-naive population is Models attractive for clinical trials  The increasing numbers of co-development and alliances taking Thus, India has emerged as the promising place between Indian and Pharma companies speaks out in itself about the conducive environment and policies , protection and country in Drug discovery and more patent confidentiality of IP filing will be witnessed in years to come Source: Drug discovery trends in India and China, Express Pharma- June 2010, Pharmaceuticals Export Promotion council (Pharmexil) ; India Pharma Inc. Enhancing value through alliances and Partnerships – Pharma Summit- 2011(PwC & CII Report © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 19
  • 20. The year 2012 showed some big investment and joint collaboration taking place in India (1/3) • Elder Pharma Forms JV With Russian Firm - Holding PharmaEco • India's Transasia Bio-Medical acquires US based companies - Drew Scientific and JAS Diagnostics December • Sun Pharma acquires Generic unit - URL Pharma from Takeda of Japan • Indian Pharma exports grew over 23% in 2011-12: Pharmexcil 2012 • India's Claris forms a JV with Japan's Otsuka for Injectables and Nutrition business in a INRs. 1313 Crores transaction • Strides Arcolab inks pact with Eli Lilly for cancer drugs • GSK to spend $904 mn to lift stake in India arm • Mexico keen on investments from Indian pharmaceuticals companies • India's Trivitron Healthcare acquires Finnish diagnostics technology firm - Ani Labsystems for €15.8 Mn (about R110 Cr). November • India's Cipla offers over Rs.1,200 cr to buy 51 % in Cipla Medpro (S.Africa) 2012 • India's Panacea Biotec announces strategic alliance with Kremers Urban Inc (USA) • Trivitron Healthcare, India inks pact with Italy-based Diasorin group for Lab devices • Sun Pharma to acquire US-based DUSA for $230 million • Mayne Pharma group, Australia inks licensing & distribution agreement with India's Intas Pharma Source: Press Release, Company websites © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 20
  • 21. The year 2012 showed some big investment and joint collaboration taking place in India (2/3) • Fidelity invests $75 million in India's Trivitron Healthcare • Pharma industry creates 2nd most # of billionaires • Australia's Phosphagenics licences injectable technology to Strides Acrolab, India • Transasia Bio-Medicals Ltd., India’s largest IVD Company Acquires Maxmat S. A., France • India's Lupin Eyes 15 New Drug Launches in U.S. by March 2013 October • Dr.Reddy's Lab (India) to acquire Netherlands's pharma company- OctoPlus NV for 27.4 million Euros 2012 • Mylan Inc acquires India's SMS pharmaceuticals units for $33 millions • Sanofi investing $300 million in India's Shantha Biotechnics facility for Insulin production • India & China dominates again in BioSpectrum Asia survey • India's Advinus collaborates with Japan's Takeda in a $90 Million development deal • India US announce Joint Research in BT • DBT and ABLE roadmap for a $125B by 2025 Biotech industry from $4B in 2011 • Piramal to launch own innovative drug in EU • Panacea forms JV with US’ Osmotica September • India to fund joint medical research project with Cambridge University 2012 • India drug patent on rise- records 3,488 patent in 5 years (2005 - 2010) • Alembic Pharmaceuticals enters into license agreement with Accu-Break (USA • Suven Life Sciences secures four products (NCEs) patents Source: Press Release, Company websites © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 21
  • 22. The year 2012 showed some big investment and joint collaboration taking place in India (3/3) • Australia welcomes research deal with India worth 2.8 million Australian Dollar August 2012 • Piramal Imaging & IBA Molecular enter pact for diagnostic imaging agent • Lupin and Novartis in marketing tie-up • Serum acquires Dutch firm Bithoven for $100M July 2012 • AstraZeneca & Cellworks to design TB therapies • Biocon pacts with Bristol Myers for oral insulin development • Novozymes & Praj to jointly develop Biofuels • Abbott sets Nutri research center with Biocon June 2012 • India, Australia collaborate for scientific research • Advinus Therapeutics Ltd. and P2D Bioscience enter into a R&D collaboration for ADHD • German Drug Maker Boehringer To Acquire For OTC Brands In India • Piramal acquires Decision Resources Group, LLC a health-care research provide for $635 May 2012 million • Merck to set up $150M vaccine lab in Delhi April 2012 • Piramal acquires Imaging R&D portfolio of Bayer Source: Press Release, Company websites © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 22
  • 23. Majority of Indian states host Life Science business centres in India (1/2) The Indian Diverse geography caters to many Life Science business centres in India City Major Companies Mumbai Sun Pharma, Lupin, Wockhardt, Glenmark, USV, Ipca, Indoco Remedies, Bharat Serum and Vaccines Ltd, Cipla, FDC, Most MNCs Ahmedabad Zydus, Cadila, Intas, Torrent, Dishman, Helios, Claris Lifesciences Hyderabad Dr.Reddy’s, Aurobindo, Suven LifeSciences, Divi’s, Hetero, Shantha Biotech, Granules India, Natco Pharma, GVK Biosciences Bengaluru Biocon, Micro, Strides, GSK,Advinus, AstraZeneca, Aurigene, Avesthagen, Bal Pharma, Biozeen, Bayir Group, Bhat Bio-tech, Camson Bio technologies, Global Calcium, Indigene Life system New Delhi Ranbaxy, Panacea, Jubilant Life Sciences, Advanced Life Sciences, Akum Drugs & Pharma, Dr. Lal Path Labs, JagsonPal Pharma, Life Medicare & Biotech, Mankind Pharma, Medicamen Biotech, ModiMundi Pharma, More pen, Nestor Pharma, Ozone Pharma & Ayurvedic Chennai Orchid, Shashun, Tablets India, TTK Healthcare, Amrutanjan Health care, Arvind Remedies, Axon Drugs, Bafna, Caplin Point Labs, Cholayil, Fourrts India Labs, Life Cell International, Malladi Drugs & Pharma, Medopharm, Nutra Specialities Pune Bilcare, Serum India, Advinus Emcure, Acoris Research, Hindustan Antibiotics, National Chemical Lab, Vlife Sciences Navi Mumbai Reliance Life Science, Pfizer India, Wanbury, Alkem Pharma, Lilac Medicare, Thyrocare Technologies Source: IndiaBioscience.org © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 23
  • 24. Majority of Indian states host Life Science business centres in India (2/2) The Indian Diverse geography caters to many Life Science business centres in India City Major Companies Chandigarh Surya Pharma, Nectar Life Sciences, Ind-Swift Labs Vishakhapatnam Falcon Biotech, Vijaynagar Biotech Ltd, Actimus Biosciences Pvt.Ltd, Eisai Pharmatechnolgy Ltd, Techno med systems Baroda Alembic Pharma, Ambrosia Ltd, Divine Laboratories, Hindustan Biosynth Ltd, Sterling Biotech Unicure Remedies Noida & Gurgaon Ranbaxy Labs, Jubilant Life Sciences Thane Aarti Drugs, Calyx Chemicals & Pharmaceuticals Ltd, Kremoint Pharma, Herbert Brown Pharmaceuticals & Research Kolkata Adinath Bio-Labs, Allister Biotech, Krish Biotech, Allen India Ltd, Albert David Ltd, East India Pharmaceuticals Works, Emami, TCG Lifesciences Indore Alpa Laboratories, Syncom Healthcare, Biofil Chemicals & Pharmaceuticals Ltd, Cyano Pharma, Parenteral Drugs India Ltd Source: IndiaBioscience.org © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 24
  • 25. India has active Public and Private Institutes focused on research covering spectrum of Lifesciences (1/2) (Few centers listed below) City Centres New Delhi All India Institute of Medical Sciences,  International Centre for Genetic Engineering & Institute of Genomics and Integrative Biology, (IGIB) Biotechnology (ICGEB) National Institute of Immunology, Institute of Cytology  Jawaharlal Nehru University and Preventive Oncology (ICPO) TERI University, Nizam's Institute of Medical Sciences Bengaluru National Centre for Biological Science (NCBS) , National University of Agricultural Sciences, Jawaharlal Nehru Institute of Mental Health and Neurosciences Centre for Advanced Scientific Research, Indian Institute of Stem Cell Institute Science (IISc) Hyderabad Ashoka Trust for Ecology and the Environment  LV PRASAD EYE INSTITUTE  International Crops Research Institute for the Semi-  National Institute for Nutrition Arid Tropics (ICRISAT) Indian Institute of Chemical Technology  Centre for Cellular and Molecular Biology (CCMB) Pune Agarkar Research Institute ,National Institute of Virology (NIV), Indian Institute of Science Education and Research Microbial Containment Complex National Chemical Laboratory (NCL) The National Centre for Cell Sciences  National AIDS Research Institute (NARI) Mumbai Advanced Centre for Treatment Indian Institute of Technology Bombay (IIT- Bombay) Research and Education in Cancer Tata Institute of Fundamental Research (TIFR) Bhabha Atomic Research Centre (BARC)  University of Mumbai Bombay Natural History Society Ahmedabad National Institute of Pharmaceutical Education and The Gujarat Cancer & Research Institute Research (NIPER) Institute for Plasma Research National Institute of Occupational Health (NIOH) Indian Institute of Management Ahmedabad (IIM-A) © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 25
  • 26. India has active Public and Private Institutes focused on research covering spectrum of Lifesciences (1/2) (Few centers listed below) City Centres Kolkata Bose Institute Indian Institute of Science Education and Research Indian Institute of Chemical Biology Calcutta Medical Research Institute Indian Statistical Institute Marine Engineering & Research Institute Jadavpur University Indian Institute of Management (IIM- C) University of Calcutta Nagpur Central Institute for Cotton Research National Environmental Engineering Research Institute National Research Centre for Citrus (NRCC) (NEERI) Indian Bureau of Mines National Institute of Intellectual Property Management National Bureau of Soil Survey and Land Use (NIIPM) Planning Lucknow Birbal Sahni Institute of Palaeobotany Industrial Toxicology Research Centre (ITRC) Central Drug Research Institute Indian Institute of Sugarcane Research (IISR) National Botanical Research Institute Chennai Indian Institute of Technology Madras The National Institute of Epidemiology (NIE) University of Madras CENTRAL LEATHER RESEARCH INSTITUTE (CLRI) National Institute for Research in Tuberculosis © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 26
  • 27. M&A Activity: India as an emerging market is gaining widespread attention (1/2) With patent cliff and weak pipeline, there is a continuous pressure on Global companies to explore avenues including generic business in emerging markets Recent M&A transactions of Indian Pharma Indian Co. MNC (acquirer) Nature of Deal Wockhardt Danone Acquisition for US$ 350 Million (2011) Paras Pharma Reckitt Benckiser Acquisition for US$ 726 Million (2010) Piramal Healthcare Abbott Acquisition of domestic Formulation business for US$ 3.7 billion (2010) Dabur Fresenius Acquisition of 73. 3% stake for Euro 139 million (2008) Ranbaxy Daiichi Sankyo Acquisition for US$ 4.6 billion Shantha Biotechnics Sanofi-Aventis Acquisition for US$ 781 million (2009) Orchid Hospira Acquisition for US$ 400 million (2009) Matrix Mylan Acquisition for US$ 736 million (2006) Source: India Pharma Inc. Enhancing value through Alliances and Partnership – E&Y 2011. © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 27
  • 28. M&A Activity: India as an emerging market is gaining widespread attention (2/2) Recent M&A transactions of Indian Pharma Indian Company MNC (acquirer) Nature of Deal Vetnex Animal Health Ltd (earlier Pfizer (Animal Health Business) NA (2009) ICICI Venture acquired from Ranbaxy) Wockhardt (Animal Care Subsidiary) Vetoquinol SA (France) NA (2009) Pharma MNCs are facing challenges of impending patents and rising R&D expenditure. They are looking for opportunities to increase the drug pipeline and reduce costs. In addition, given the pressures of reducing healthcare costs and the increasing use of generics, pharma MNCs are also looking to partner with companies with superior product development capabilities. Source: India Pharma Inc. Enhancing value through Alliances and Partnership – E&Y 2011.; * International journal of Pharmaceutical Development & Research- Vol-04, May 2012 © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 28
  • 29. List of acquisitions by Indian companies in 2011-12 (Indicative) Zydus has been the most active with involvement in 3 acquisitions Company Acquisition Market Consideration Rationale Strengthens Cadila’s presence in Zydus Cadila Biochem India Not disclosed domestic formulations market especially in the anti-biotic segment Not disclosed Expands presence in the animal Zydus Bremer Pharma Mainly Europe healthcare business Allows presence in the controlled- release drugs segment in the US with United States product portfolio and Zydus Cadila Nesher Pharma (Generics) manufacturing capabilities; step to strengthen presence in the US generics market Allows the company to enter the US penicillin-containing anti-bacterial GSK’s Penicillin United States Dr. Reddy’s $ 20 million market segment with brands manufacturing facility (Generics) such as Augmenting and Amoxil and diversify its generics portfolio in the US Source: Company Websites, Press Releases © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 29
  • 30. Indian Companies prefer Expansion Pill to expand and cater wide geographies Already established in regulated and semi-regulated markets Indian Co. MNCs Nature of Deal Mergers & Acquisitions are now Lupin I’rom Pharmaceuticals (Japan) Undisclosed amount a days play a key role in Indian (2011) Pharma. India stood in top 5 countries in the year 48 Research and development $20 million upfront transactions, total value of 4.9 (R&D) agreement with Medicis payment from Medicis USD millions. Pharmaceutical (2011) USA stood in first, next is Hormosan Pharma GmbH, a Amount not disclosed Germany and countries like Generic Company in Germany. (2008) China, Brazil ranked after India. Dr.Reddy’s GSK (completion of the Amount not disclosed Indian pharmaceutical acquisition of US penicillin (2011) companies have spent close to facility and products from $1.4 bn in acquiring companies GlaxoSmithKline) globally in the past 18 months. BASF’s Pharmaceutical Contract Amount not disclosed With access to capital, higher Manufacturing Business (2008) staying power because of low Biocon AxiCorp Pharmaceuticals Acquired majority stake costs, and managements willing of 70% (2008) to globalize, this trend will continue. (2010)* Glenmark Medicamenta Amount not disclosed (2007) Source: Company Websites, Press Releases © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 30
  • 31. List of JV/Alliances among Indian players(Indicative) JV/ Alliances Market Rationale JV would develop, manufacture and market branded generics across emerging markets; Sun Pharma’s contribution: Leveraging on SPARC’s R&D pipeline and Sun Pharma – Merck Emerging Markets manufacturing capabilities Merck’s contribution: Market presence and regulatory competence across emerging markets Emerging Markets Based on similar structure; DRL would manufacture products; while GSK would Dr. Reddy’s – GSK distribute in Latin America, Africa, Middle East and Asia Cadila Healthcare – Bayer Primarily a co-marketing arrangement with focus on certain therapy segment India With product patent regime, Indian players are collaborating with MNCs by in- licensing patented products in India Cadila Healthcare would license 24 branded generics to Abbott for 15 emerging Cadila Healthcare – Emerging Markets markets; collaboration includes pain management, Abbott oncology, CVS, neurological and respiratory diseases Primarily a co-marketing arrangement with focus on insulin segment Lupin – Eli Lilly India Aimed at leveraging on Lupin’s marketing & distribution footprint in India and Eli Lilly’s product portfolio in the insulin segment Biocon – Bristol Myers Partnership in the research space with focus on discovery & development of NA Squibb NCEs. Working on early stage of the development cycle © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 31 Source: Company Websites, Press Releases
  • 32. List of Alliances & Partnership for Product Sourcing JV/ Alliances MNCs Rationale Aurobindo Pharma AstraZeneca, Supply of generic medicines for developed Pfizer and emerging markets (2010) Strides Arcolab Ltd Pfizer Supply of 67 generic drugs to Pfizer with ffocus on oncology (2008) Torrent AstraZeneca Supply of 18 products for various market (2010) Pharmaceuticals Indoco Remedies Aspen Range of ophthalmic products for 30 emerging markets (2010) Indoco Remedies Watson Development and manufacture of generic drugs with market size of US$ Pharmaceuticals 670 million (2010) Cadila Healthcare Altana, Zyban JV structure for the manufacture of patent drugs (2006) Torrent Novo-Nordisk Contract manufacturing of formulations (2010, 2005) Pharmaceuticals Strides GSK Supply of drugs for semi-regulated markets (2011) Arcolab Limited Source: Company Websites, Press Releases © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 32
  • 33. Today, Acquisitions and Partnerships with Indian companies have expanded to R&D as well MNCs active in Collaborative Research in India. Previously, they were formed to source out products. Indian Company Molecule Indication Nature of Deal Global Remark Partner Zydus Cadila (2009) Not disclosed Cardiovascular Collaborative Eli Lilly To discover & Develop new CVS drugs for a research span of 6 yrs Zydus Cadila (2008) Not disclosed Inflammatory Collaborative Karo Bio To develop a new compound that targets Diseases research the Gluco corticoid receptor for treatment of inflammatory disorders Torrent (2005) Not disclosed Hypertension Collaborative Astra Zeneca To discover a novel drug for hypertension research for Rs. 1.2 Billion Suven Life Sciences Pre- clinical CNS Joint Development Eli Lilly Partnering deal for early phase research (2006) drug for discovery of NCEs candidate “Alliances and acquisitions for drug discovery, diagnostics and clinical research is taking place throughout India. Such deals will provide mutual advantage to both partners. While the MNCs benefit by replenishing pipelines, addition to product portfolios or establishing a local presence in the emerging markets, the Pharma/ biotech companies gain in technology expertise and much needed funds for research and expansion,” Dr Ajaykumar Sharma Practice Head - Pharma Healthcare South Asia & Middle East, Frost & Sullivan) Opportunities Galore for India's Biotech Industry – Express Pharma (1-15 Feb, 2012) Source: Company Websites, Press Releases © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 33
  • 34. MNCs outsource their research work to Indian firms owing to it’s rich domain expertise. Contract research is an established operating model R & D services agreements by Indian companies Indian Firm MNC Partner Purpose “As rightly pointed out by Ernst & Young in Orchid Chemicals Bexel (2006) Drug discovery its ‘Beyond Borders 2005 Report’, for research in metabolic biotech companies, disease >> “Partnerships are an important means of Biocon BMS (2009) Contract Research for mitigating risk, as well as a strategic Pfizer (2010) Bulk drugs Mylan (2009) Biosimilars response to business challenges.. Jubilant Organosys Eli Lilly NCE : CVS, CNS, >> Since drug development is an inherently (2005) Diabetics, Oncology, high-risk business, characterised by large Astra Zeneca (2009) Neuroscience R&D investments and relatively small probabilities of success, partnerships will Divis Labs (years data not Merck Custom chemical always be an important factor in diversifying available, but MNCs name Abbot synthesis and mitigating risk.” mentioned in public domain) GSK >> According to Karkaria, partnerships are also one of the ways of entering newer Shasun Pharmaceuticals Ltd. Aventis (1998) Contract Research & Eli Lilly (2001) Custom synthesis potential markets. (Dr Cyrus Karkaria GSK services President Biotechnology, Lupin) Teva Source: Opportunities Galore for India's Clinigene Pacific Biomarkers (2011) Collaborative research Biotech Industry – Express Pharma (1-15 services agreement to Feb, 2012) global pharmaceutical and biotechnology industry Source: Battling with TRIPS: Emerging Firm Strategies of Indian Pharmaceuticals Industry Post – TRIPS, Journal of Intellectual Property Rights Vol. 13, July 2008, pp 301- 317 © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 34
  • 35. Indian Firms Are Looking For Partnerships, Investment, Licensing or Acquisitions of, Innovative compounds Co-Development and technologies Opportunities Novel Drug Delivery Systems Manufacturing in IN and Companies in Regulated the US markets © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 35
  • 36. About Aagami – Who we Are Aagami ,Inc. is a life sciences consulting firm based in the suburbs of Chicago, offering Strategic Consulting and Technology Licensing Services for Life Science (biotech, pharmaceutical and medical devices) companies, focused on India and Emerging Markets. Aagami Partners bring several decades of operational experience globally, connections at C-Level people with Indian Life-sciences companies and most importantly deep knowledge of India-business-practices. The company has supported small and large life science companies from all over the world, mainly in the United States, Europe, India, Australia, and Japan in their quest for Indian market and or resources. These services include finding right service providers, right alliance partners, JV partners, M&A Targets, Contract Sales/Marketing company, In-Licensing or Out-Licensing deals etc., in the business of Life Sciences including Investing either way. © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 36
  • 37. Aagami Strategic Consulting offers services in, In-Licensing or Out-Licensing Co-Development and Partnerships Mergers & Acquisitions Investments to and from India Finding the Right • JV partners and/or Distributors • CRO and CRAMS providers • Contract Sales/Marketing companies • Contract Manufacturing companies © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 37
  • 38. Our Value Proposition: We Bring, Deep Extensive network Deal experience Extensive Dedicated team Understanding of with top 100 Indian with Western, Operational with focus on Client business and socio- LS companies at Japanese and Experience and success cultural differences CXO levels Indian industry Excellence Globally in ways of working © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 38
  • 39. Sample list of Aagami Clients USA International Clients Company Location Company Location Dow MI Solvay Belgium Aegis CA Delmar Canada Advangene IL SOM Biotech Spain MacuCLEAR TX Phosphagenics Australia DesignMedix OR NanoSensing Brazil Unitech Pharma MI Affitech Denmark Loyola U Chicago IL Ilsan Ilvac Turkey MW Univ. IL, AZ Pieris Germany PLx TX Toppan Japan © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 39
  • 40. Aagami Approach.... Prepare ‘Elevator Pitch’ on client technology and/or Identify Relevant company customized to Broadcast EP to Relevant Companies from our Specific business culture Companies by Email Database and resources e.g. India, Japan Coordinate CDAs with Organize a road show to interested Companies, and Follow-up with phone calls India along with client supply further info through and emails etc. representative/s emails and conference calls Take appointments with Support in structuring and Coordinate the logistics of right executives in negotiations for finalizing the road show interested companies the deal(s) © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 40
  • 41. Realizing Possibilities Let’s get in touch… Talk to us or drop by… Join us in our conversations at, Global Life Science Dinesh Jain, Founder CEO Business in India +1 630-853-3520 Dinesh@aagami.net Our Linkedin group initiative USA (Head Office) INDIA 2020 Calamos Ct. Suite 209 Crystal Plaza, Level 2, 276 C B Road, Naperville, IL 60653 Ramdaspeth, Nagpur – 440010 Aagami Home Phone: +1-630-799-1572 Phone: +91-787-501-6957 www.aagami.net Godwyn Francis Nidhi Bansod Head –Business Development Head – Business and Market Research Research Reports, Presentations, godwyn@aagami.net nidhi@aagami.net Newsletter, and more… Phone:+1- 630-780-5830 Supporting Global companies in Lifesciences to meet success with their India Initiatives……. © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 41
  • 42. SOME MORE INTERESTING FACTS ABOUT INDIA © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 42
  • 43. India home to large number of rich as well as poor classes Has more Billionaires than Britain, and more poor people than Africa. India has more number of billionaires than France, UK & Switzerland. India has a sizeable rich population. India is at the number four spot on an international list compiled by Forbes magazine, based on the number of billionaires a country produces. Poverty has been on the decline. According to official government of India estimates, poverty declined from 37.2% in 2004-05 to 29.8% in 2009-10. Rural poverty declined by 8 percentage points from 41.8% to 33.8% and urban poverty by The combined net worth of the 2012 class of the 100 richest 4.8 percentage points from 25.7% to 20.9% over the same Indian's is $250 billion, up from $241 billion a year ago. India period. currently has 61 billionaires. (Forbes, October 2012) The government is now investing in a set of pioneering In 2008-09, India had 84,000 HNWIs. By 2010, it had risen by 50 initiatives to bring basic services to the poor – in elementary per cent (126,700), the biggest increase of all countries.* education, basic health care, health insurance, rural roads, and rural connectivity. In spite of recent poverty declines with its rapid economic Source: *Dollar Billionaires in Poor Countries: India’s “Philantrocapitalism”- expansion, India still has high poverty rates according to a Global Research, Sept 10, 2012; Blog- World Bank on Poverty Across India in 2011 World Bank report titled "Perspectives on poverty in India : 2011-http://www.riazhaq.com/2011/05/world-bank-on-poverty-across-india- stylized facts from survey data" released in 2011. Overall, the in.html; latest World Bank data shows that India's poverty rate of 27.5%, Wikipedia- List of countries by the number of US dollar billionaires; based on India's current poverty line of $1.03 per person per http://www.worldbank.org/en/country/india/overview day © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 43
  • 44. India has a well established Education system with Abundant Talent  India has one of the largest school- age population in the world. It has well established education systems with more than 1.6 million schools enrolling in excess of 130 mn students  For higher education, India has more than 500 universities as well as more than 25, 000 colleges and 7000 technical institutions with approximately 13 million students. Education bodies Total numbers Stream Post graduate Under graduate in India Science 382619 2000374 Universities 409 Engineering/technology/ 95185 1663691 Number of Arts, Fine arts, social work, 25990 architecture/ design Science & commerce ; Medicine 31025 273366 Engineering/technology/architecture; Management/hotel/travel 125002 181277 Medical ; Education/teacher trainings ; /tourism Others management Education/teacher training 460490 460490 INDIA offers a large, well-educated, English- Law 11625 203577 speaking workforce with 700,000 scientists Arts 660516 5108233 and engineers graduating every year, Commerce 189603 1699263 including 122,000 chemists and chemical engineers, with 1,500 PhDs# Ph.D./M.Phill 78388 NA Note: Figures -Sanctioned intake per million (August 2011) Source: Report of the Working Group On Science & Technology, Human Resource Development For 12th Five Year Plan (2012-17)- Ministry of Science & Technology, GOI- Sept 2011. Source: Higher Education Statistics Report 2008-09 by MHRD, (Up to 30 Sept 2008); Report of the Working Group On Science & Technology, Human Resource Development For 12th Five Year Plan (2012-17)- Ministry of Science & Technology, GOI- Sept 2011; * - India’s Contribution to the World- http://yousigma.com/interestingfacts/indiasgifttotheworld.pdf, #- Sector Profile Indian Life Sciences – Issue 59- August Page 44 © Aagami, Inc. 2013 | All rights reserved | www.aagami.net 2011http://www.indodutchconnect.com/app/webroot/pdf/newslatter/issue_59/indian_life_sciences.pdf
  • 45. NRIs (PIOs – People of India Origin) constitute a global community of over 25 million people Region Population North America (Mostly USA & Canada) 4.0 Million South America (Trinidad & Tobago, Guyana, Surinam, Jamaica, etc.) 1.6 Million Europe (U.K., Netherlands, Germany, Austria, Switzerland, etc.) 2.5 Million Africa (South Africa, Mauritius, East African countries, etc.) 2.7 Million Middle East (UAE, Saudi Arabia, Kuwait, etc.) 3.6 Million Far East & South East Asia (Malaysia, Singapore, Myanmar, etc.) 5.0 Million Pacific Island (Fiji, Australia, New Zealand) 0.7 Million Sri Lanka and Nepal 4.9 Million Total 25.0 Million Note: Since hard numbers have not been available, these are approximate estimates and obtained from individual country statistics and from the report of the High Level India Diaspora Committee appointed by Govt. of India Source: NRIs/PIOs and India – Mutual Expectations Dr. Thomas Abraham- Chairman, Global Organization of People 2013 | All rights reserved | www.aagami.net © Aagami, Inc. of Indian Origin (GOPIO), Inc. Page 45
  • 46. This is what Einstein and Duff had to say about India “We owe a lot to the Indians, who taught us how to count without which no worthwhile scientific discovery could have been made” Albert Einstein “Many of the advances in the sciences that we consider today to have been made in Europe were infact made in India centuries ago” Grant Duff - British Historian of India © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 46
  • 47. THANK YOU END OF DOCUMENT © Aagami, Inc. 2013 | All rights reserved | www.aagami.net Page 47