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  • 22 October 2021

    Jubilant Pharmova – Q2’& H1’FY22 Results

    The Board of Jubilant Pharmova Limited met today to approve financial results for the quarter ended September 30, 2021.

    The Board of Jubilant Pharmova Limited met today to approve financial results for the quarter ended September 30, 2021.

    Commenting on Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, Co-Chairman & Managing Director, Jubilant Pharmova said:

    “The Company reported 4% topline growth during the quarter driven by steady revenues in the Pharmaceuticals segment and robust growth in the Contract Research and Development Services (CRDS) segment. In the Pharmaceuticals segment, while Radiopharma, Allergy and CMO businesses reported growth on a YoY basis, the API business’ performance was lower on a higher base last year and Generics business witnessed headwinds due to temporary pricing pressure in the US market. The Generics business was also affected during the quarter by the Import Alert at the Roorkee plant and by impact of the Industry wide impurity issue in certain sartan products that led to lower sales and some product withdrawal.
    In our Contract Research and Development Services business, we witnessed strong growth both YoY and sequentially driven by continued strong demand from our customers for our Drug Discovery Services.
    In the Proprietary Novel Drugs business, our plans are on track to take one program to the clinical stage by end of this financial year.
    During H1’FY22, we grew our revenues by 20% YoY and improved our EBITDA margins by 2.44% vs. H1’FY21 due to recovery in Radiopharma business and strong performance in Allergy Immunotherapy, CMO, API and Contract Research businesses.
    I would like to mention that over the medium term, we have very strong growth levers in all our businesses. To drive growth in these businesses, Company will continue to invest accordingly.”

    Q2’FY22 Highlights

    A. Consolidated financials

    • Revenue was at Rs 1,657 Crore versus Rs 1,591 Crore in Q2'FY21
    • Reported EBITDA at Rs 344 Crore versus Rs 353 Crore in Q2'FY21
    • Finance costs at Rs 35 Crore vs. Rs 46 Crore in Q2'FY21
    • PAT was at Rs 143 Crore as compared with Rs 147 Crore in Q2'FY21
    • EPS is Rs 8.97 versus Rs 9.21 in Q2'FY21
    • Capital expenditure for the quarter was Rs 131 Crore

    Segment Wise Analysis

    B. Pharmaceuticals Segment

    • Radiopharma business witnessed improvement in sales YoY, however pace of recovery during the quarter was affected by increase in COVID-19 cases in the US
      • We continue to maintain majority market share
      • Ruby-Fill installations during the quarter was affected by the higher COVID-19 cases in the US. Doubling of RUBY-FILL manufacturing capacity complete, which will enable continued growth in Rb-82 market.
      • NDA for I131 MIBG clinical trials both for phase II and phase III is progressing satisfactorily.
      • Radiopharmacy business witnessed steady performance YoY, however volumes impacted during the quarter due to COVID-19. Turnaround plan is on track with positive outcome over the last two quarters
    • Allergy Immunotherapy reported robust performance both YoY and sequentially with strong recovery from COVID-19 backed by healthy growth in revenues resulting from volumes higher than pre COVID levels
    • CMO business revenue grew YoY based on continued strong demand from customers as well as due to COVID related deals
    • Performance of API business was lower year-on-year due to higher base last year but sequentially witnessed strong growth with stable margins
    • Generics business performance adversely affected due to the following
      • Pricing pressure in the US market
      • Lower volumes due to import alert at Roorkee plant
      • Industry wide impurity issue in certain sartan products that affected performance as a result of voluntary withdrawals
      • This was partly offset by higher remdesivir sales
    • With regards to Roorkee import alert, our remediation activities are ongoing as per plan and we expect to complete the same early next CY.

    C. Contract Research and Development Services Segment

    • Revenue at Rs 108 Crore increased by 44% YoY led by robust volume growth
      • Higher demand from biotech companies for integrated services, functional chemistry and DMPK, Discovery Biology and Clinical trial data management support trough Trial stat, Canada.
      • Continue to witness strong demand conditions in this business
    • Reported EBITDA at Rs 35 Crore vs. Rs 21 Crore in Q2'FY21 with a margin of 32.9% vs. 27.4% in Q2'FY21

    D. Consolidated financials

    • Revenue was Rs 3,292 Crore versus Rs 2,747 Crore in H1'FY21
    • Reported EBITDA at Rs 723 Crore versus Rs 536 Crore in H1'FY21
    • Finance costs at Rs 69 Crore vs. Rs 94 Crore in H1'FY21
    • Average blended interest rate for H1'FY22 stood at 4.62%
    • PAT was at Rs 303 Crore as compared with Rs 182 Crore in H1'FY21
    • EPS is Rs 19.06 versus Rs 11.44 in H1'FY21
    • Capital expenditure for the period was Rs 238 Crore

    Segment Wise Analysis

    E. Pharmaceuticals Segment

    • Pharmaceuticals revenue at Rs 3,085 Crore vs. Rs 2,612 Crore in H1’FY21
    • Pharmaceuticals EBITDA at Rs 686 Crore vs. Rs 521 Crore in H1’FY21. EBITDA margin of 22.2% as compared to 20% in H1’FY21
    • Radiopharma business saw recovery in H1’FY21. With COVID-19 cases coming down, we expect this trend to continue
    • Radiopharmacy business came close to pre-COVID levels with pick up in nuclear medicine procedures in Q1’FY22 but was again impacted by COVID-19 in Q2’FY22. Turnaround plan is on track
    • Allergy Immunotherapy reported robust performance with strong recovery from COVID-19 backed by healthy growth in revenues resulting from volumes higher than pre COVID levels
    • Growth in CMO business led by strong demand witnessed from customers as we leveraged our capabilities to meet significant COVID-19 related demands
    • API revenue higher with lower base as in Q1FY21 there was a production impact due to COVID-19
    • Revenue growth was driven by higher sales of Remdesivir during the period. Impact of Import Alert and voluntary withdrawal of some sartan products in Q2’FY22 limited the revenue growth

    F. Contract Research and Development Services Segment

    • Revenue at Rs 196 Crore increased by 49% YoY led by robust volume growth
      • Higher demand from biotech companies for integrated services, functional chemistry and DMPK, Discovery Biology and Clinical trial data management support trough Trial stat, Canada.
      • Continue to witness strong demand conditions in this business
    • Reported EBITDA at Rs 70 Crore vs. Rs 38 Crore in Q2'FY21 with a margin of 35.6% vs. 29.2% in H1'FY21

    Business Outlook

    Pharma: In radiopharma, we continue to build a long term pipeline of radiopharmaceuticals and are executing a turnaround plan of radiopharmacies. Medium-long term outlook remains robust. Allergy business well placed to grow strongly with healthy margins over the medium term. We expect the CDMO segment to witness near term correction as COVID related product demand will shift as the pandemic subsides. We expect performance of Generics in current year to be impacted due to the import alert, pricing pressure in the US market and new industry wide impurity issue in sartans

    Contract Research and Development Services (CRDS): The business will continue to grow especially with commissioning of the State of the art Greater Noida facility. We continue to evaluate further capex plans in this business given the strong demand climate

    Investments and Growth: We are accelerating capacity expansions to create new capabilities by almost tripling the investment over previous year. We expect to incur capex of Rs 700-800 Crore in FY22 that includes expansion at Spokane site by 50% by end of CY 24 and enhancement of CRDS capabilities and capacities. In view of the strong demand from our customers, we have approved further expansion of the Greater Noida facility which will deliver both Chemistry and DMPK services

    Proprietary Novel Drugs: We plan to take one drug candidate to Phase I clinical trials in H2’FY22. IND filings for additional programs expected in 2022. Efforts underway towards creating shareholder value through an external capital raise/ potential partnering with major global pharmaceutical companies.

    Consolidated effective tax rate: ETR of Jubilant Pharmova Limited for H1’FY22 is 33.3%. The company’s cash tax outflow is estimated to be at approximately 24% for the next three years based on the current tax structure in key geographies. After exhaustion of the MAT credit, the Company’s effective tax rate is expected to come down to around 25% in three years’ timeframe

    Income Statement – Q2 & H1'FY221,2

    1. All figures are in Rs Crore unless otherwise stated
    2. Q2’FY21 and H1’FY21 financials include only the continuing business

    Earnings Call details

    The company will host earnings call at 5.00 PM IST on October 22, 2021

    Participants can dial-in on the numbers below
    Primary Number: + 91 22 6280 1141 / + 91 22 7115 8042
    Toll Free Numbers:
    USA: 1 866 746 2133
    UK: 0 808 101 1573
    Singapore: 800 101 2045
    Hong Kong: 800 964 448

    Replay: October 22 to October 29, 2021
    Dial-in: +91 22 7194 5757/ +91 22 6663 5757
    Playback ID: 55416#

    About Jubilant Pharmova Limited

    Jubilant Pharmova Limited (formerly Jubilant Life Sciences Limited) is a company engaged in Pharmaceuticals, Contract Research and Development Services and Proprietary Novel Drugs businesses. Pharmaceuticals business through Jubilant Pharma Limited Singapore (JPL) is engaged in manufacturing and supply of Radiopharmaceuticals with a network of 48 radio-pharmacies in the US, Allergy Immunotherapy, Contract Manufacturing of Sterile Injectables and Non-sterile products, APIs and Solid Dosage Formulations through six manufacturing facilities that cater to all the regulated market including USA, Europe and other geographies. Jubilant Biosys Limited provides contract research and development services through two world class research centers in Bangalore and Noida in India. Jubilant Therapeutics is involved in Proprietary Novel Drugs business and is an innovative biopharmaceutical company developing breakthrough therapies in the area of oncology and auto-immune disorders. Jubilant Pharmova Limited has a team of over 6,000 multicultural people across the globe. The Company is well recognized as a ‘Partner of Choice’ by leading pharmaceuticals companies globally. For more information, please visit: www.jubilantpharmova.com

    For more information, please contact:

    For Investors

    Vineet V Mayer
    Ph: +91 120 436 1103
    E-mail: vineet.mayer@jubl.com

    Siddharth Rangnekar |Karl Kolah
    CDR India
    Ph: +91 97699 19966 / 9833010478
    E-mail: siddharth@cdr-india.com
    karl@cdr-india.com

    For Media

    Sudhakar Safaya
    Ph: +91-120 436 1062
    E-mail: sudhakar.safaya@jubl.com

    Clayton Dsouza
    Madison Public Relations
    E-mail: clayton.dsouza@madisonpr.in
    Phone number: +91 9930011602

    Disclaimer

    Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential product characteristics and uses, product sales potential and target dates for product launch are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. Jubilant Pharmova may, from time to time, make additional written and oral forward looking statements, including statements contained in the company’s filings with the regulatory bodies and its reports to shareholders. The company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.

  • 07 October 2021

    Pranshu Singhal of KARO SAMBHAV Wins the 12th Social Entrepreneur of the Year (SEOY) Award - India 2021, presented by Prof. K. VijayRaghavan, Principal Scientific Adviser to the Government of India

    The Schwab Foundation for Social Entrepreneurship, the sister organisation of the World Economic Forum, and the Jubilant Bhartia Foundation of Jubilant Bhartia Group

    Noida, October 7, 2021: The Schwab Foundation for Social Entrepreneurship, the sister organisation of the World Economic Forum, and the Jubilant Bhartia Foundation of Jubilant Bhartia Group today conferred Pranshu Singhal of KARO SAMBHAV with the prestigious Social Entrepreneur of the Year Award - India 2021. The award was presented by Prof. K. VijayRaghavan, Principal Scientific Adviser to the Government of India at a virtual ceremony in presence of eminent personalities from different fields from across the world.

    Felicitating the winner and congratulating the finalists of this year’s SEOY Award India 2021, Prof. K. VijayRaghavan, Principal Scientific Adviser to the Government of India said, “This global pandemic has been a major crisis and the social entrepreneurs have come forward in each section of the society as emergency rescuers for the most vulnerable, by stretching their means to the maximum possible. We need to take important lessons from these change makers working at the grass-roots offering unique solutions to seemingly impossible challenges. Recognising their ideas, work and contributions towards solving challenges will help them scale their work and increase their efficiency. I compliment the Schwab Foundation and the Jubilant Bhartia Foundation for this unique initiative of recognising these social entrepreneurs for over a decade now.”

    The SEOY India Award 2021 winner Pranshu Singhal from Karo Sambhav is working to make circular economy possible and is enabling enterprises to close their material loops. Karo Sambhav covers e-waste, plastic packaging waste, battery waste and glass and continues its exploration towards less scrutinised sectors like mattresses and textiles. Pranshu aims to shape and catalyse the set-up of a well-governed and accountable end-of-life waste management industry with transparent practices.

    Ms. Hilde Schwab, Co-Founder and Chairperson, Schwab Foundation for Social Entrepreneurship and Professor Klaus Schwab, Founder & Executive Chairman of, World Economic Forum and Co-Founder of the Schwab Foundation for Social Entrepreneurship commended the role of social entrepreneurs and congratulated the winner & finalists. They shared, “The global pandemic has emphasised the critical role of social innovators in identifying urgent needs and responding to realities on the ground. This year’s winner and finalists of the Social Entrepreneur of the Year India Award represent the ethos of social innovation and entrepreneurship. They are actors who have selflessly dedicated their lives to improving the state of the world by reaching and strengthening marginalised communities on the fringes of society. Social innovators are pioneering agents of change, revitalising the way our institutions operate, and are critical to achieving a more equitable world. The Schwab Foundation for Social Entrepreneurship is proud to have been partnering with Jubilant Bhartia Foundation over the past 12 years to award social innovators from India who are not only driving change but are also shifting systems towards a more inclusive and sustainable future.”

    Applauding the winner and the finalists, Mr. Shyam S Bhartia, Chairman and Founder and Mr. Hari S Bhartia, Chairman & Co-Founder, Jubilant Bhartia Group and Founder Directors of Jubilant Bhartia Foundation said, "The pandemic brought to the forefront the extraordinary role of social entrepreneurs as front line workers and showcased their vast reach and penetration in the country. The social entrepreneurs have acted as Corporate India’s implementation partners, working hand-in-hand. Despite the shattering second wave of COVID-19, this year we received close to 100 diverse submissions out of which 28 were women social entrepreneurs & two of them have been selected as finalists. The award submissions reflect the indomitable spirit and resilience of the social entrepreneurs. The social entrepreneurs have also set an example for collaborative efforts worldwide by displaying the power of working together and leveraging each other’s strengths. To amplify the work of these social entrepreneurs especially on post COVID rehabilitation, we now part of the World Economic Forum’s initiative - the ‘COVID Response Alliance for Social Entrepreneur’s. The alliance will provide a platform to showcase the work done by the social entrepreneurs in India as well as globally. Kudos to all our finalists and the winner who have made through several stringent rounds of evaluation. This year marks the 12th year of our strong partnership with the Schwab Foundation for Social Entrepreneurship. Over the years we have seen over 1700 high impact submissions. We stay committed to recognising and empowering these high spirited individuals in their endeavours.”

    Pranshu Singhal on winning the SEOY Award India 2021 shared, “We are today in the decade of action. We need a movement where people, organisations, enterprises, governments collaborate and co-create solutions. I thank the SEOY India Award for kick starting the journey of making things circular. This award will go a long way in helping us be a catalyst in this space.”

    Pranshu Singhal from Karo Sambhav will join the Schwab Foundation for Social Entrepreneurship’s Community, the world’s largest and prestigious network of social innovators from around the world. The winner of SEOY Award also participates in World Economic Forum (WEF) events which offer unique opportunities to engage with global decision-makers from the public, corporate, media, academic and civil society sectors. The other finalists of SEOY Award India 2021 were Dr. Aparna Hegde from ARMMAN, Seema Prem from FIA GLOBAL and Dr. Shuchin Bajaj from UJALA CYGNUS.

    The SEOY Award aims to recognise promising and successful social entrepreneurs, who are key enablers of inclusive growth addressing challenges in numerous areas with excellence in large-scale, system change models. The SEOY Award - India has established itself as one of the most reputable awards for social entrepreneurs in India. This year the award celebrates its 12th year. In 2010, the Schwab Foundation for Social Entrepreneurship and Jubilant Bhartia Foundation came together to promote social innovation in India through the Social Entrepreneur of the Year (SEOY) Award – India and has since recognised and supported the growing field of social innovation in India.

    This year’s jury members for the award included, Ms. Shobhana Bhartia, Chairperson & Editorial Director, HT Media Ltd; Ms. Hilde Schwab, Chairperson & Co – Founder, Schwab Foundation for Social Entrepreneurship; Mr. T V Narendran, CEO & Managing Director, Tata Steel Ltd & President, CII; Ms. Sudha Pillai, Former Member Secretary, Planning Commission, Government of India; Mr. P R Ganapathy, Regional Director, Stanford Seed, India; Ms. Rohini Nilekani, Chairperson, Arghyam Foundation; Ms. Ashraf Patel, Founder, Pravah & Commutiny Youth Collective Winner SEOY 2020 and Mr. Ramraj Pai, Chief Executive Offi­cer, India Impact Investor’s Council (IIC).

    About the winner:

    Pranshu Singhal from Karo Sambhav aims at making recycling a way of life in India and beyond.  The organisation is working to make circular economy possible by building systems, platform, and infrastructure for end-of-life (eol) waste collection and recycling, and utilisation of recovered materials. It is creating an inclusive social movement, which drives long-term behaviour change, ensures participation from different sections of the society, is supported by the producers and provides a fair value and opportunity to all the stakeholders involved in the waste management value chain. It collaborates with producers on circular economy and EPR frameworks for multiple waste categories.

    Through pioneering practices, and strategic alliances with organisations like IFC, GIZ, ILO, WEEE Forum, PACE, Karo Sambhav’s programmes are helping shape contours of the eol waste management industry. Together with the world’s leading CPG brands, Karo Sambhav launched India’s first industry-led venture to solve the plastic waste crisis. It is the first organisation in the country to design and implement solutions for nationally regulated as well as voluntary waste streams. It covers e-waste, plastic packaging waste, battery waste and glass and continues its exploration towards less scrutinised sectors like mattresses, textiles.

    A critical aspect of Karo Sambhav is its engagement with the informal sector (waste pickers, and aggregators). It has helped increase the average incomes of the marginalised informal waste pickers by providing them a fair value, built capacities and created livelihoods. Karo Sambhav’s technology platform (mobile and web-app) gives it an edge by establishing transparency and traceability across the waste value chain and allows multiple stakeholders to be on a single platform. Karo Sambhav has collected and enabled responsible recycling of over 23,000 MT of e-waste and plastics waste in the past four years and has prevented 21,100 MT of CO2 emissions. It has engaged with over 3,000 schools, over 500 bulk consumers, more than 5,000 informal workers in over 60 cities across 29 States of India.

    Note to the Editors:

    Schwab Foundation for Social Entrepreneurship was co-founded by Hilde Schwab and Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum. For over twenty years, the Schwab Foundation for Social Entrepreneurship has supported the world’s leading social innovators in their efforts to create a more just, equitable, and sustainable world. The Schwab Foundation provides unparalleled platforms at the regional and global level to highlight and advance leading models of sustainable social innovation.

    Learn more at www.schwabfound.org and follow on:
    Twitter: https://twitter.com/schwabfound
    Facebook: https://www.facebook.com/schwabfound/
    LinkedIn: https://www.linkedin.com/company/schwab-foundation-for-social-entrepreneurship

    Jubilant Bhartia Foundation (JBF), established in 2007, is the not-for-profit organisation of the Jubilant Bhartia Group. It focuses on conceptualising and implementing the Corporate Social Responsibility initiatives (CSR) for the Group. The Jubilant Bhartia Foundation’s activities include various community development work, healthcare programs, cultural and sports events, environmental preservation initiatives, vocational training, women empowerment, educational activities and promotion of Social Entrepreneurship.

    Learn more at www.jubilantbhartiafoundation.com and follow on:
    Twitter: https://twitter.com/indiaseoy
    Facebook: https://www.facebook.com/IndiaSEOY
    LinkedIn: https://in.linkedin.com/company/jubilantbhartiafoundation

    For media queries, please contact:
    Vivek Prakash
    Jubilant Bhartia Foundation;
    Ph: +91 120 436 1804/ 1811;
    E-mail: vivek.prakash@jubl.com

  • 30 September 2021

    Jubilant Therapeutics Announces Successful Completion of Pre-IND Meeting with FDA for its Novel Dual LSD1 and HDAC6 Inhibitor JB1-802

    Jubilant Therapeutics Inc., a biopharmaceutical company advancing small molecule precision therapeutics to address unmet medical needs in oncology and autoimmune diseases.

    BEDMINSTER, New Jersey – September 30, 2021 – Jubilant Therapeutics Inc., a biopharmaceutical company advancing small molecule precision therapeutics to address unmet medical needs in oncology and autoimmune diseases, today announced the successful completion of a pre-IND (Investigational New Drug) meeting with the U.S. Food and Drug Administration (FDA) regarding the development plan,  clinical study design and dosing strategy for the Phase I/II trial of JB1-802, a dual inhibitor of LSD1 and HDAC6, for the treatment of small cell lung cancer, treatment-induced neuro-endocrine prostate cancer and other mutation-defined neuroendocrine tumors.

    A pre-IND meeting provides the drug development sponsor an opportunity for an open communication with the FDA to discuss the IND development plan and to obtain the agency’s guidance regarding planned clinical evaluation of the sponsor’s new drug candidate. After reviewing the preclinical data provided, plans for additional data generation and the Phase I/II clinical trial protocol, the FDA addressed Jubilant Therapeutics’ questions, provided guidance and aligned with the sponsor on the proposed development plan for JBI-802.

    "We appreciate the FDA's guidance as we endeavor to find an innovative new treatment for high unmet-need tumors with devastatingly low survival rates” said Hari S Bhartia, Chairman, Jubilant Therapeutics Inc.

    "We are pleased with the outcome of the pre-IND meeting with the FDA and plan to submit the IND application by the end of 2021" said Syed Kazmi, Chief Executive Officer, Jubilant Therapeutics Inc.

    About Jubilant Therapeutics

    Jubilant Therapeutics Inc. is a patient-centric biopharmaceutical company advancing potent and selective small molecule modulators to address unmet medical needs in oncology and autoimmune diseases. Its advanced discovery engine integrates structure-based design and computational algorithms to discover and develop novel, precision therapeutics against both first-in-class and validated but intractable targets in genetically defined patient populations. The Company plans to file an IND later this year for the first in class dual inhibitor of LSD1/HDAC6, followed by two additional INDs in 2022 with novel modulators of PRMT5 and PAD4 in oncology and inflammatory indications. Jubilant Therapeutics is headquartered in Bedminster NJ and guided by globally renowned key opinion leaders and scientific advisory board members.  For more information, please visit www.jubilanttx.com or follow us on Twitter @JubilantTx and LinkedIn.

    Media Contact

    Susan Sharpe, +1 781-235-3060
    MacDougall
    ssharpe@macbiocom.com

  • 20 September 2021

    Four high-impact social entrepreneurs nominated as finalists of the ‘Social Entrepreneur of The Year’ Award - India 2021 By Schwab Foundation & Jubilant Bhartia Foundation.

    Noida, September 20, 2021 : The Schwab Foundation for Social Entrepreneurship, the sister organisation of the World Economic Forum and the Jubilant Bhartia Foundation, a not for profit organisation of Jubilant Bhartia Group today announced the finalists of the 12th Social Entrepreneur of the Year (SEOY) Award - India 2021.

    The following accomplished high-impact social entrepreneurs have been selected as finalists for the SEOY Award – India 2021:

    1. Aparna Hegde, ARMMAN; www.armman.org

    2. Seema Prem, FIA GLOBAL; www.fiaglobal.com

    3. Pranshu Singhal, KARO SAMBHAV; www.karosambhav.com

    4. Shuchin Bajaj, UJALA CYGNUS; www.ujalacygnus.com

    An eminent jury panel comprising industry stalwarts and distinguished personalities from different fields and backgrounds will select the final winner of the award.

    The winner of the ‘Social Entrepreneur of the Year’ Award - India 2021 will be announced in a virtual ceremony on Thursday, October 7th, 2021. The virtual award ceremony will be attended by various dignitaries from across the globe to celebrate and appreciate the exemplary contribution of these high spirited individuals.

    The SEOY Award aims to recognise promising and successful social entrepreneurs, who are key-enablers of inclusive growth addressing challenges in numerous areas with excellence in large-scale, system change models. The winner of the SEOY Award - India will join the world’s largest network of high-impact social enterprises affiliated with The Schwab Foundation for Social Entrepreneurship.

    The finalists of the SEOY Award – India 2021 are high-spirited transformational individuals selected through the stringent criterion of evaluation, based on several parameters, including COVID-19 response & efforts, background research, personal & on-ground team interactions, impact assessment, expert reviews and reference checks.

    The chosen finalists are tech-enabled experts working in fields of maternal and child health care, financial services inclusion of the underserved, circular economy (recycling of e-waste, plastic packaging waste), battery waste and glass and high-quality tertiary healthcare services to the under-privileged. Using ground-breaking innovation in their respective initiatives, these social entrepreneurs are bringing impact through the inventive use of technology, working on frameworks of Extended Producer Responsibility (EPR), development of AI powered Fintech platform, availability of low-cost super-specialty hospitals in tier-2 & tier- 3 cities of India.

    The SEOY Award – India 2021 opened for applications in March 2021 and received over 100 diverse submissions from 28 cities of India including 28 from women social entrepreneurs. The categories of the intervention included healthcare, clean technology, media communication, disability, energy, enterprise development, labour conditions, microfinance, nutrition, sustainable farming and water & sanitation.

    The SEOY Award - India has established itself as one of the most reputable awards for social entrepreneurs in India. This year the award celebrates its 12th year. In 2010, the Schwab Foundation for Social Entrepreneurship and Jubilant Bhartia Foundation came together to promote social innovation in India through the Social Entrepreneur of the Year (SEOY) Award – India and has since recognised and supported the growing field of social innovation in India.

    Brief Descriptions of the Finalists:

    Dr Aparna Hegde from ARMMAN
    Founder and Managing Trustee
    Sector: Healthcare
    Established: 2008
    www.armman.org

    ARMMAN is a non-profit organisation that leverages technology to create cost-effective, scalable, non-linear, systemic solutions with proven impact to improve maternal and child health in the first five years. ARMMAN’s programs provide pregnant women/mothers with critical preventive information to improve health seeking behaviour. It also supports health workers and systems with technology-enabled comprehensive training.

    It adopts a ‘tech plus touch’ approach and leverages the health worker network of the Government and its partner NGOs along with the deep mobile penetration. It is currently implementing its ‘Kilkari’ (largest mobile-based maternal messaging program across the world) & ‘Mobile Academy’ program (largest health-worker training program globally), in partnership with the Ministry of Health and Family Welfare, Government of India. ARMMAN has also partnered with Google AI for Social Good for predictive analytics/AI and with Turn.IO to pilot WhatsApp as a health platform to improve maternal and child health.

    It has reached over 25 million women and children and 197,000 frontline health workers in 19 states of India with aims to reach 123 million women and children and 1 million health workers by 2030.

    Seema Prem from FIA GLOBAL
    CEO, Co-Founder
    Sector: Financial Services & Social Inclusion
    Established: 2012
    www.fiaglobal.com

    FIA is an impact ‘fintech’ organisation that redefines the way financial services are distributed to low income individuals in South Asia, particularly women. FIA’s AI powered Fintech platform - FINVESTA aggregates, designs and delivers sachet financial products to rural customers through its wide network of banking agents. With its distribution expertise it makes financial services more accessible, intuitive and indispensable to the underserved communities. Started to tap the ‘un-banked’ market in India.

    FIA today offers an umbrella of services at its inclusion centres which comprises of accounts, cash in/cash out, fund transfers global remittances, investment and protection products, credit and distribution of Government subsidies among others. These services are specially designed for women and women-owned businesses and other financially-excluded populations who live or work in un(der) served geographies. FIA’s local banking agents receive start-up and ongoing training and professional development services from FIA.

    FIA has one of the largest rural digital banking infrastructures serving 40 million customers through 30,000 inclusion centers. It aims to provide banking services to over 100 crore people across India, Nepal and Bangladesh.

    Pranshu Singhal from KARO SAMBHAV
    Founder
    Sector: Waste Management 
    Established: 2016
    www.karosambhav.com

    Karo Sambhav is a social enterprise, with an aim to make recycling a way of life for people.  It covers e-waste, plastic packaging waste, battery waste and glass and continues its exploration towards less scrutinised sectors like mattresses, textiles and tyres. Karo Sambhav collaborates with leading enterprises, strategic alliances and governments on ‘Circular Economy’ and ‘Extended Producer Responsibility’ (EPR) frameworks. Karo Sambhav utilises its core strengths of deep technical expertise, grassroots action, technology and systems thinking approach to create impact at scale.

    A critical aspect has been the successful integration of the informal sector with the EPR programmes as collection partners. This has resulted in the growth of over 200 formal businesses and a channelisation of USD 8.2 million in collective revenue, while creating new pathways of formal job growth.  Karo Sambhav has collected and enabled recycling of over 23,000 MT of e-waste and plastics waste in the past four years and has prevented 21,100 MT of CO2 emissions. It has directly engaged 3 million people in 60 cities in 29 states of India through its on-ground awareness programmes with over 3,000 schools and 500 organisations.

    Dr. Shuchin Bajaj fromUjala Cygnus Healthcare Services
    Founder Director
    Sector: Healthcare
    Established: 2011
    www.ujalacygnus.com

    Ujala Cygnus Group of Hospitals was established with an aim to address the tertiary healthcare needs of the poorest of the poor individuals. It aims to provide global standards of healthcare to the masses at affordable prices. It aims to do so by bringing the revolution of super-specialty tertiary health care facilities to tier-2 & tier- 3 cities of India. In addition, it also ensures free medicines and offers discounts on pharmacy, consultancies and surgeries to the economically weaker sections of the society. Ujala Cygnus also mobilises the community on various facets of health awareness hence contributing to healthcare equity. It conducts CMEs (Continuous Medical Education) programmes (over 4000 conducted) through its expert doctors to other medical practitioners (over 50,000 reached) in the community to create sustainable healthcare solutions.

    It is currently present in 14 districts and four states of India. Each day Ujala hospitals perform over 70 surgeries, provide consultation to over 650 patients and admit over 200 patients on an average. It plans to expand its presence to five new states in near future.

    Note to the Editors:

    Schwab Foundation for Social Entrepreneurship was co-founded by Hilde Schwab and Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum. For over twenty years, the Schwab Foundation for Social Entrepreneurship has supported the world’s leading social innovators in their efforts to create a more just, equitable, and sustainable world. The Schwab Foundation provides unparalleled platforms at the regional and global level to highlight and advance leading models of sustainable social innovation.

    Learn more at www.schwabfound.org and follow on:
    Twitter: https://twitter.com/schwabfound
    Facebook: https://www.facebook.com/schwabfound/
    LinkedIn: https://www.linkedin.com/company/schwab-foundation-for-social-entrepreneurship

    Jubilant Bhartia Foundation (JBF), established in 2007, is the not-for-profit organisation of the Jubilant Bhartia Group. It focuses on conceptualising and implementing the Corporate Social Responsibility initiatives (CSR) for the Group. The Jubilant Bhartia Foundation’s activities include various community development work, healthcare programs, cultural and sports events, environmental preservation initiatives, vocational training, women empowerment, educational activities and promotion of Social Entrepreneurship.

    www.jubilantbhartiafoundation.com
    Learn more at www.jubilantbhartiafoundation.com and follow on:
    Twitter: https://twitter.com/indiaseoy ;
    Facebook: https://www.facebook.com/IndiaSEOY
    LinkedIn: https://in.linkedin.com/company/jubilantbhartiafoundation

    For media queries, please contact:
    Vivek Prakash
    Jubilant Bhartia Foundation;
    Ph: +91 120 436 1804/ 1811;
    E-mail: vivek.prakash@jubl.com

  • 07 September 2021

    Jubilant Biosys Limited announces the appointment of Mr. Giuliano Perfetti as Chief Executive Officer

    Today, Jubilant Biosys Limited announced the appointment of Giuliano Perfetti as its Chief Executive Officer.

    Mr. Perfetti has more than 20 years of experience across diverse businesses and global markets with expertise in Strategy, Sales, Marketing and Business Development. He has led business transformation and expansion programs working in reputed names including Accenture and Astrazeneca among others. Prior to joining Jubilant Biosys, Mr. Perfetti was associated with Fabbrica Italiana Sintetici (F.I.S) as Chief Commercial Officer and was responsible for strategizing and executing the company’s growth plan and ramping up the global scale-up and commercial service business.

    Commenting on his joining, Mr. Shyam S Bhartia, Chairman and Mr Hari S Bhartia Co-Chairman and Managing Director, Jubilant Pharmova said “Jubilant Biosys is delighted to have Giuliano come on board as we make rapid progress in expanding our drug discovery services and CDMO business through investments in infrastructure and new capacity.”

    “I am thrilled to be joining the Jubilant Bhartia Group at such a pivotal time of growth and investment bringing a fully integrated offering from Drug Discovery to Development and Commercial Production.” said Mr. Giuliano Perfetti on his appointment.

    About Jubilant Biosys Limited

    Jubilant Biosys, a subsidiary of Jubilant Pharmova Limited, an integrated global pharmaceutical company, has presence in Bengaluru and Noida in India. Jubilant Biosys offers contract research & development services for global pharmaceutical innovators. Jubilant Biosys has demonstrated expertise in functional services in chemistry including- computational, medicinal/ synthetic chemistry, PR&D and GMP scale-up capabilities up to phase II. Services in biology include structural biology, in-vitro biology, DMPK, in-vivo pharmacology and Toxicology. Further, Jubilant Biosys has integrated discovery expertise with a track record of working on over 80 programs in multiple therapeutic areas including but not limited to Oncology, Metabolic Disorders, Pain & Inflammation, CNS and expanding into Rare Diseases.

    For more info: www.jubilantbiosys.com

    for Business Development Contact:
    Ravichandran S
    bd@jubilantbiosys.com

    About Jubilant Pharmova Limited

    Jubilant Pharmova Limited (formerly Jubilant Life Sciences Limited) is a company engaged in pharmaceuticals, contract research and development services and proprietary novel drugs businesses. Pharmaceuticals business through Jubilant Pharma Limited Singapore (JPL) is engaged in manufacturing and supply of Radiopharmaceuticals with a network of 48 radio-pharmacies in the US, Allergy Therapy Products, Contract Manufacturing of Sterile Injectibles and Non-sterile products, APIs and Solid Dosage Formulations through six USFDA approved manufacturing facilities in the US, Canada and India. Jubilant Biosys Limited provides Contract Research and Development Services through three world class research centres in Bangalore, Noida and Greater Noida in India. Jubilant Therapeutics is involved in Proprietary Novel Drugs business and is an innovative biopharmaceutical company developing breakthrough therapies in the area of oncology and auto-immune disorders. Jubilant Pharmova Limited has a team of around 5,800 multicultural people across the globe. The Company is well recognized as a ‘Partner of Choice’ by leading pharmaceuticals companies globally. For more information, please visit: www.jubilantpharmova.com.

  • 16 August 2021

    Jubilant Therapeutics Strengthens Board of Directors with Addition of Leila Alland, M.D. and Announces Appointment of Jeremy Barton, M.D., as Strategic Advisor and Interim CMO

    Jubilant Therapeutics Inc., a biopharmaceutical company advancing small molecule precision therapeutics to address unmet medical needs in oncology

    BEDMINSTER, New Jersey – August 16, 2021 – Jubilant Therapeutics Inc., a biopharmaceutical company advancing small molecule precision therapeutics to address unmet medical needs in oncology and autoimmune diseases, announced today the appointments of Leila Alland, M.D. to its Board of Directors, and Jeremy Barton, M.D. as Strategic Advisor and Interim Chief Medical Officer.

    “It is a pleasure to welcome Dr. Alland to the Jubilant Therapeutics board and Dr. Barton to the team,” said Hari S Bhartia, Chairman, Jubilant Therapeutics Inc. “They join at an exciting time as we progress towards the clinic and I look forward to their engagement and support in guiding our objectives.”

    “Dr. Alland and Dr. Barton’s combined experience in strategic oncology drug development will help propel the company towards our goal to bring innovative small molecule modulators to patients with cancer,” said Syed Kazmi, Ph.D., President and Chief Executive Officer of Jubilant Therapeutics Inc.

    “The Jubilant Therapeutics team is making great strides in developing precision oncology therapeutics and I am honored to be joining their Board and supporting them in advancing their exciting pipeline into the clinic," said Leila Alland, M.D.

    Dr. Alland currently serves as Chief Medical Officer of PMV Pharmaceuticals where she is responsible for leading the company’s clinical stage precision anticancer therapies. Previously, she served as Chief Medical Officer at Affimed and Tarveda Therapeutics and held leadership positions at AstraZeneca, Bristol-Myers Squibb, Novartis and Schering-Plough. Dr. Alland completed her fellowship in pediatric hematology-oncology at the New York Hospital and Memorial Sloan-Kettering Cancer Center and served as Assistant Professor of Pediatrics at Albert Einstein College of Medicine, where she was awarded the James S. McDonnell Foundation Scholar Award and pursued basic cancer research while also caring for children with cancer and blood disorders.

    “I am excited to be working with Jubilant Therapeutics and contributing to advancing their pipeline of novel therapeutics to address unmet needs in patients with cancer and autoimmune diseases," said Jeremy Barton, M.D.

    Dr. Barton brings to Jubilant Therapeutics over 29 years of experience across all phases of oncology drug development from major pharmaceutical companies in Switzerland, the United Kingdom and the United States. He currently works as a consultant advising biotech companies on strategic oncology drug development. Previously, Dr. Barton served as Chief Medical Officer at Biogen Idec, eFFECTOR Therapeutics, and Mirati Therapeutics. He served as the Head of early Oncology Development at Pfizer for where he oversaw the transition of all oncology compounds from research to IND and then to proof-of-concept studies. Dr. Barton is Board Certified in Internal Medicine and Clinical Oncology, a Member of the Royal College of Physicians, a Fellow of the Royal College of Radiologists (Clinical Oncology) and a Member of Faculty of Pharmaceutical Medicine. He earned his Master’s in Physiology from Oxford University, and his M.D. degree at University College Hospital Medical School in London.

    About Jubilant Therapeutics Inc.

    Jubilant Therapeutics Inc. is a patient-centric biopharmaceutical company advancing potent and selective small molecule modulators to address unmet medical needs in oncology and autoimmune diseases. Its advanced discovery engine integrates structure-based design and computational algorithms to discover and develop novel, precision therapeutics against both first-in-class and validated but intractable targets in genetically defined patient populations. The Company plans to file an IND later this year for the first in class dual inhibitor of LSD1/HDAC6, followed by two additional INDs in 2022 with novel modulators of PRMT5 and PAD4 in oncology and inflammatory indications. Jubilant Therapeutics is headquartered in Bedminster NJ and guided by globally renowned key opinion leaders and scientific advisory board members.  For more information, please visit www.jubilanttx.com or follow us on Twitter @JubilantTx and LinkedIn.

    Media Contacts
    Susan Sharpe, +1 781-235-3060
    MacDougall
    ssharpe@macbiocom.com

  • 23 July 2021

    JUBILANT PHARMOVA – Q1’FY22 RESULTS

    The Board of Jubilant Pharmova Limited met today to approve financial results for the quarter ended June 30, 2021.

    The Board of Jubilant Pharmova Limited met today to approve financial results for the quarter ended June 30, 2021.

    Commenting on Company’s performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, Co-Chairman & Managing Director, Jubilant Pharmova said:

    “During this quarter, in addition to YoY increase, we also reported sequential improvement in the Specialty Pharma segment with gradual recovery across radiopharmaceuticals, Radiopharmacy and Allergy business. In radiopharmaceuticals, we have enhanced efforts to promote existing products as well as expand our product pipeline with strategic partnerships. With a gradual recovery in nuclear medicine procedures, the turnaround plan of Radiopharmacy business is on track. CMO business continued to benefit from COVID related deals.
    Contract Research and Development Services business witnessed strong YoY growth in revenues led by healthy demand from customers. We have doubled our chemistry research capacity and the facility is operational now.
    Despite COVID-19 related lockdowns, we have been able to ensure continuity in most of our manufacturing operations across all business segments while at the same time ensuring safety of our employees. I take this opportunity to thank all our employees who have worked tirelessly across all our plants and offices to ensure continuity in company’s operations, while continuing to serve our global customers.”

    Corporate Announcement

    The Board of Directors of Jubilant Pharmova Limited (“JPM”), at its meeting held on July 23, 2021, has approved the demerger of the Active Pharmaceutical Ingredients (API) undertaking of Jubilant Generics Limited (“JGL” - a wholly owned subsidiary of the Company) and vesting of the same with JPM, on a going concern basis (“Proposed Demerger”), to be implemented through a scheme of arrangement between JGL and JPM and their respective shareholders and creditors under Sections 230 to 232 and other applicable provisions of the Companies Act, 2013 (“Proposed Scheme”).

    The objectives / rationale of this business reorganization are as below

    This would also help in supporting our customers for their needs from early stage of research to commercialization of active ingredients, and will provide competitive edge to this business

    • Creation of a small molecule discovery and chemistry focused vertical present across value chain of CRO & CDMO of Innovative and Generic API
    • This will strengthen and sustain long-term growth, profitability, market share, customer service, risk management as it requires focused management attention, different skill sets and resources.
    • Synergies between CRO & CDMO businesses can be realized more effectively in a Holding / Subsidiary Company structure as compared to fellow subsidiary structure. 

    Q1’FY22 Highlights

    A. Consolidated financials

    • Revenue was Rs 1,635 Crore versus Rs 1,156 Crore in Q1'FY21
    • Total EBITDA at Rs 379 Crore for versus Rs 183 Crore in Q1’FY21
    • Finance costs at Rs 35 Crore versus. Rs 48 Crore in Q1'FY21
    • Average blended interest rate for Q1'FY22 stood at 4.64% versus 5.26% in Q1’FY21.
    • PAT was at Rs 160 Crore as compared with Rs 35 Crore in Q1'FY21. EPS is Rs 10.1 versus Rs 2.2 in Q1'FY21
    • Capital expenditure for the quarter was Rs 106 Crore

    Segment Wise Analysis

    B. Pharmaceuticals Segment

    • Radiopharma business saw a gradual improvement sequentially
      • Ventilation lung procedures continue to be impacted due to COVID-19
      • We continue to maintain majority market share and have long term contracts in place
      • Ruby-Fill installs are picking up and we expect to gain momentum in the US, if the COVID-19 situation continues to improve. Ruby-Fill commercially launched in Europe in Q3’FY21. Expanding distribution network for Ruby-Fill in EU
      • Radiopharmacy business came close to pre-COVID levels with pick up in nuclear medicine procedures and our turnaround plan is on track
    • Allergy Immunotherapy volumes have normalized to pre-COVID levels in Q1'FY22 with COVID related restrictions easing
    • CMO business revenue grew YoY based on strong demand from customers as well as COVID related deals
    • API business continued to witness higher demand including for remdesivir though saw QoQ decline due to pricing pressure in Sartans
    • Growth was led by higher volumes including remdesivir though the business witnessed higher pricing erosion in the US
    • Roorkee formulations facility was placed under import alert by the US FDA. The agency has exempted a few products from the import alert. For rest of the products, revenue impact for the Company is less than 3% of total revenues. The Company is engaging with the agency and are taking help of consultants and hope to resolve the issue soon

    C. Contract Research and Development Services Segment

    • Higher demand from biotech companies for integrated services, functional chemistry and DMPK, Discovery Biology and Clinical trial data management support trough Trial stat, Canada.
    • Continue to witness strong demand conditions in this business

    D. Business Outlook

    • Radiopharma: We continue to build a long term pipeline of radiopharmaceuticals and are executing a turnaround plan of radiopharmacies. In CMO, we have a strong visible order book. We are expanding Spokane capacity by 50% that will come into commercial operations by end CY24. The capacity expansion is on track. We expect performance of Generics to be impacted to some extent due to the import alert
    • Contract Research and Development Services (CRDS): The business will continue to grow especially with the commissioning of additional capacity
    • Proprietary Novel Drugs: We plan to take one drug candidate to Phase I clinical trials in H2’FY22
    • Capex: We expect to incur capex of Rs 700-800 Crore in FY22 that includes expansion at Spokane site and of the CRDS capacity
    • Consolidated effective tax rate: ETR of Jubilant Pharmova Limited for Q1’FY22 is 34.9%. The company’s cash tax outflow is estimated to be at approximately 24% for the next three years. After exhaustion of the MAT credit, the Company’s effective tax rate is expected to come down to around 25% in three years’ timeframe

    1. All figures are in Rs Crore unless otherwise stated

    2. Q1’FY21 financials include only the continuing business

    Earnings Call details

    The company will host earnings call at 5.00 PM IST on July 23, 2021

    Participants can dial-in on the numbers below
    Primary Number: + 91 22 6280 1141 / + 91 22 7115 8042
    Local Access Number: +91-7045671221 (Available all over India)
    Toll Free Numbers:
    USA: 1 866 746 2133
    UK: 0 808 101 1573
    Singapore: 800 101 2045
    Hong Kong: 800 964 448

    Replay: July 23 to July 30, 2021
    Dial-in: +91 22 7194 5757/ +91 22 6663 5757
    Playback ID: 96086#

    About Jubilant Pharmova Limited

    Jubilant Pharmova Limited (formerly Jubilant Life Sciences Limited) is a company engaged in pharmaceuticals, contract research and development services and proprietary novel drugs businesses. Pharmaceuticals business through Jubilant Pharma Limited Singapore (JPL) is engaged in manufacturing and supply of Radiopharmaceuticals with a network of 48 radio-pharmacies in the US, Allergy Therapy Products, Contract Manufacturing of Sterile Injectibles and Non-sterile products, APIs and Solid Dosage Formulations through six USFDA approved manufacturing facilities in the US, Canada and India. Jubilant Biosys Limited provides Contract Research and Development Services through two world class research centres in Bangalore and Noida in India. Jubilant Therapeutics is involved in Proprietary Novel Drugs business and is an innovative biopharmaceutical company developing breakthrough therapies in the area of oncology and auto-immune disorders. Jubilant Pharmova Limited has a team of around 5,800 multicultural people across the globe. The Company is well recognized as a ‘Partner of Choice’ by leading pharmaceuticals companies globally. For more information, please visit: www.jubilantpharmova.com.

    For more information, please contact:

    For Investors

    Hemant Bakhru | Pavleen Taneja
    Ph: +91-120 436 1002 | 21
    E-mail: hemant.bakhru@jubl.com
    pavleen.taneja@jubl.com

    Siddharth Rangnekar |Karl Kolah
    CDR India
    Ph: +91 97699 19966 / 9833010478
    E-mail: siddharth@cdr-india.com
    karl@cdr-india.com

    For Media

    Sudhakar Safaya
    Ph: +91-120 436 1034
    E-mail: sudhakar.safaya@jubl.com

    Clayton Dsouza
    Madison Public Relations
    E-mail: clayton.dsouza@madisonpr.in
    Phone number: +91 9930011602

    Disclaimer

    Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential product characteristics and uses, product sales potential and target dates for product launch are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. Jubilant Pharmova may, from time to time, make additional written and oral forward looking statements, including statements contained in the company’s filings with the regulatory bodies and its reports to shareholders. The company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.

  • 15 June 2021

    Jubilant HollisterStier LLC, a wholly owned subsidiary of Jubilant Pharma, Enters into Manufacturing Partnership for Production of COVID-19 Vaccine Candidate, COVAXIN® in the US

    Noida, June 15, 2021 – Jubilant HollisterStier LLC, a wholly owned subsidiary of Jubilant Pharma Limited, has entered into a manufacturing partnership with Ocugen, Inc. (NASDAQ: OCGN), a biopharmaceutical company, for manufacturing of vaccine candidate COVAXIN® for the US and Canadian markets.

    "We are excited to expand our basket of vaccine products and meet the increasing demand from our customers for COVID-19 vaccines in the US." said Amit Arora, President Jubilant HollisterStier.

    "We are pleased to partner with Ocugen and support the ongoing fight against COVID-19. With two facilities in North America working to manufacture multiple COVID-19 vaccines and therapies, we remain committed to supporting efforts to eradicate this global pandemic." stated Pramod Yadav, CEO Jubilant Pharma Limited.

    "We are fully committed to bringing COVAXIN to the US and Canadian markets because it has the potential to save lives by adding a weapon to the arsenal in the fight against emerging variants." said J.P. Gabriel, Senior Vice President, Manufacturing and Supply Chain. "Securing US-based manufacturing capability is a critical step as we prepare to submit our regulatory submissions to the FDA and Health Canada. Based on Bharat Biotech's strong track record of developing and commercializing vaccines globally and Jubilant's proven track record in manufacturing, we are well-prepared to transition US manufacturing of COVAXIN® to our new partner."

    About Jubilant HollisterStier

    Jubilant HollisterStier, a part of Jubilant Pharma Limited, is a leading integrated contract manufacturer of sterile injectables, ophthalmics, otics, sterile and non-sterile topicals and liquids. With facilities in North America, Jubilant HollisterStier provides specialized manufacturing for the pharmaceutical and biopharmaceutical industries. Services include a full-range of support to streamline the manufacturing process, from process qualifications through commercial release.

    About Jubilant Pharma Limited

    Jubilant Pharma Limited (JPL), a company incorporated under the laws of Singapore and a wholly-owned subsidiary of Jubilant Pharmova Limited, is an integrated global pharmaceutical company engaged in manufacturing and supply of APIs, Solid Dosage Formulations, Radiopharmaceuticals, Allergy Therapy Products and Contract Manufacturing of Sterile Injectables and Non Sterile products through six US FDA approved manufacturing facilities in the US, Canada and India and a network of 48 radiopharmacies in the US. The Company has a team of around 5,200 multicultural people across the globe and is committed to deliver value to its customers spread across over 75 countries. It is well recognized as a 'Partner of Choice' by leading pharmaceutical companies globally.

    About Jubilant Pharmova Limited

    Jubilant Pharmova Limited (formerly Jubilant Life Sciences Limited) is a company engaged in pharmaceuticals, contract research and development services and proprietary novel drugs businesses. Pharmaceuticals business through Jubilant Pharma Limited Singapore (JPL) is engaged in manufacturing and supply of Radiopharmaceuticals with a network of 48 radio-pharmacies in the US, Allergy Therapy Products, Contract Manufacturing of Sterile Injectibles and Non-sterile products, APIs and generics through six USFDA approved manufacturing facilities in the US, Canada and India. Jubilant Biosys Limited provides Contract Research and Development Services through two world class research centers in Bangalore and Noida in India. Jubilant Therapeutics is involved in Proprietary Novel Drugs business and is an innovative biopharmaceutical company developing breakthrough therapies in the area of oncology and auto-immune disorders. Jubilant Pharmova Limited has a team of around 5,800 multicultural people across the globe. The Company is well recognized as a 'Partner of Choice' by leading pharmaceuticals companies globally.

    For further information: Visit our website @ www.jubilantpharmova.com

    About Ocugen, Inc.

    Ocugen, Inc. is a biopharmaceutical company focused on discovering, developing, and commercializing gene therapies to cure blindness diseases and developing a vaccine to save lives from COVID-19. Our breakthrough modifier gene therapy platform has the potential to treat multiple retinal diseases with one drug – "one to many" and our novel biologic product candidate aims to offer better therapy to patients with underserved diseases such as wet age-related macular degeneration, diabetic macular edema, and diabetic retinopathy. We are co-developing Bharat Biotech's COVAXIN™ vaccine candidate for COVID-19 in the U.S. market. For more information, please visit www.ocugen.com.

    About COVAXIN

    COVAXIN, India's COVID-19 vaccine by Bharat Biotech, is developed in collaboration with the Indian Council of Medical Research (ICMR) - National Institute of Virology (NIV). COVAXIN is a highly purified and inactivated vaccine that is manufactured using a vero cell manufacturing platform with an excellent safety track record of more than 300 million doses supplied. Based on a well-established, and time-tested vaccine platform that has a long-established safety profile, COVAXIN continues to show strong results in all the studies conducted to date including a vaccine efficacy rate of 78% overall efficacy and 100% in severe COVID-19 disease, including hospitalizations, in second interim results of the Phase 3 clinical trial.

    In addition to generating strong immune response against multiple antigens, COVAXIN has been shown to generate memory T cell responses, for its multiple epitopes, indicating longevity and a rapid antibody response to future infections. With published data demonstrating a safety profile superior to available data for several other vaccines, COVAXIN is packaged in multi-dose vials that can be stored at 2-8°C.

    COVAXIN studies show potential effectiveness against three key variants of SARS-CoV-2. Scientists at the Indian Council of Medical Research (ICMR)-National Institute of Virology have found that COVAXIN demonstrated potential effectiveness against the Brazil variant of SARS-CoV-2, B.1.128.2, the UK variant, B.1.1.7, as well as the Indian double mutant variant, B.1.617. In ICMR studies, COVAXIN-vaccinated sera effectively neutralized several SARS-CoV-2 variants including B.1.617, India, double mutant, B.1.1.7, United Kingdom, B.1.1.28, Brazil P2, and heterologous strain) in an in-vitro plaque reduction neutralization assay. These studies suggest that COVAXIN vaccination may be effective against multiple SARS-CoV-2 variants

  • 04 June 2021

    Jubilant Pharmova – Q4 & FY21 Results

    The Board of Jubilant Pharmova Limited met today to approve financial results for the quarter ended March 31, 2021.

    The Board of Jubilant Pharmova Limited met today to approve financial results for the quarter ended March 31, 2021.

    Commenting on the Company's performance, Mr. Shyam S Bhartia, Chairman and Mr. Hari S Bhartia, Co-Chairman & Managing Director, Jubilant Pharmova said:

    "With the demerger of LSI business into Jubilant Ingrevia effective February 1, 2021, the Company's consolidated results for Q4'FY21 include only one month of LSI business and consolidated results for FY21 include only ten months of LSI business.

    For FY21 our continuing operations, despite COVID-19 challenges, revenues were stable due to a diverse range of businesses. CDMO and Generics grew though we saw impact on radiopharma and had production impact at the Nanjangud API plant.

    Specialty Pharma segment especially radiopharma was impacted due to COVID-19 and competition in radiopharma. We continue to maintain majority market share in our products and have long term contracts in place. In radiopharmaceuticals, we are expanding our product pipeline with strategic partnerships and have begun to execute a detailed turnaround plan of radiopharmacy business. CMO and Generics delivered strong growth and we plan to expand capacity in CMO and enhance number and complexity of products under development in Generics.

    Contract Research and Development Services business witnessed strong year-on-year growth in revenues led by healthy demand from customers. We are doubling our chemistry research capacity that should commission by Q2'FY22.

    Despite COVID-19 related lockdowns, we have been able to ensure continuity in most of our manufacturing operations across all business segments while at the same time ensuring safety of our employees. I take this opportunity to thank all our employees who have worked tirelessly across all our plants and offices to ensure continuity in company's operations, while continuing to serve our global customers."

    Q4'FY21 Highlights

    A. Continuing Operations

    • LSI business demerged from 1st February 2021 into Jubilant Ingrevia. The discussion below is on Continuing Operations that includes which includes Pharmaceuticals, Contract Research and Development Services and Proprietary Novel Drugs
    • Revenues and EBITDA continued to see impact of COVID-19 on the pharmaceuticals business particularly radiopharma

    Segment Wise Analysis for Continuing Operations

    B. Pharmaceuticals Segment

    • Radiopharma was impacted due to lower procedures especially related to lung scans due to COVID-19 and competition
    • Regarding Ruby-Fill litigation, the Company received a favorable and unanimous judgment from the United States Court of Appeals summarily affirming Jubilant's earlier favorable rulings from the US Patent Office ("PTAB") and the US International Trade Commission ("ITC"). These two rulings by the Appellate Court deny the appeals filed by Bracco Diagnostics, Inc ("Bracco")
    • Ruby-Fill commercially launched in Europe in Q3'FY21. Expanding distribution network for Ruby-Fill in EU. Expect ramp of installs in the US starting Q2'FY22, if the COVID-19 situation continues to improve
    • CMO business revenue grew YoY based on strong demand from customers as well as COVID related deals
    • R&D for the quarter is Rs 50 Crore – 3.3% to segment sales

    C. Contract Research and Development Services Segment

    • Higher demand from biotech companies for integrated services, functional chemistry and DMPK
    • Continue to witness strong demand conditions in this business

    D. Continuing Operations

    • For FY21 our continuing operations, despite COVID-19 challenges, revenues were stable due to a diverse range of businesses. CDMO and Generics grew though we saw impact on radiopharma and had production impact at the Nanjangud API plant
    • Capex of Rs 276 Crore in FY21
    • The Company reduced its Gross Debt to Rs 2,600 Crore from Rs 3,361 Crore as on March 31, 2020
    • In March 2021, Jubilant Pharma Limited redeemed the principal amount of US$100m out of US$300m Senior Notes due 2021 ("Notes"). This is in addition to the US$100m that was redeemed by the company in January 2021. With these two transactions, the company has completely redeemed the US$300m Senior Notes that were originally due in Oct 2021. Out of the total redemption of US$200m between Jan-March 2021, the Company has refinanced US$150m and remaining US$50m was paid out of company's cash balance
    • Jubilant Pharmova Net Debt (constant currency) reduced by Rs 219 Crore through FY21. Consolidated Net debt (constant currency) reduced by Rs 1,238 Crore in FY21. Reduction in FY21 includes the transfer of external debt of Rs 610 Crore on February 1, 2021 to Jubilant Ingrevia (due to the demerger of LSI business)

    Segment Wise Analysis for Continuing Operations

    E. Pharmaceuticals Segment

    • Radiopharma business revenue was impacted due to lower procedures especially related to lung scans due to COVID-19 and competition
    • Allergy business volumes had normalized to 100% of pre-COVID levels by Aug2020 though volumes came down in Q3'FY21 and remain at 90-95% of pre-COVID levels due to enhanced COVID related restrictions
    • Growth in CMO business led by strong demand witnessed from key customers and COVID related contracts. We realized around Rs 535 Crore out of Rs 500 Crore in revenues indicated earlier from the five CMO deals signed in FY21
    • API revenue picked up with resumption of operations at Nanjangud facility from June 2020
    • Generics revenue growth was aided by launch of Remdesivir in India and other licensed countries and strong market position in select products in the US market

    F. Contract Research and Development Services Segment

    • Revenue up 21% YoY to Rs 305 Crore led by higher demand from Biotech companies for Integrated Services, DMPK, Biology, and Functional Chemistry

    G. Business Outlook

    • Radiopharma: We continue to build a long term pipeline of radiopharmaceuticals including Generics as well as Proprietary products being used as Diagnostic, Therapeutic, Theranostic and Devices, via in-house R&D as well as strategic partnerships with key nuclear medicine companies
    • We expect one product launch in radiopharma in FY22. We are further enhancing marketing and business development efforts for Ruby-Fill
    • Radiopharmacy: We are executing a detailed turnaround plan of radiopharmacies to grow top line strongly with new customer wins, expand network to service newer geographies and enhance cost and procurement efficiencies. With a detailed turnaround plan of radiopharmacy, we expect to break even in the next two-three years
    • Allergy: The company remains well positioned to expand volumes and growth in both venom and non-venom extracts in the US and non-US markets over the coming years
    • CMO: We have a strong visible order book of c. Rs 3,600 Crore that would be serviced over the next three years
    • Against Rs 500 Crore in revenues indicated earlier from the five CMO deals signed in FY21, we realized around Rs 535 Crores. These deals are estimated to contribute further revenues of approximately Rs 200 Crore in FY22
    • We are adding a high speed fill/finish line with isolator technology at Spokane site to expand capacity by 50% that will come into commercial operations by end CY24
    • Generics: We have seen pricing pressure in a few products in the US. We plan to launch new products in the US via in-licensing and contract manufacturing. We expect to launch new products from Roorkee site once the warning letter is lifted. We plan to enhance geographical reach in RoW markets
    • API: We have a strong order book and plan to enhance volumes via new customer lock-ins
    • Contract Research and Development Services (CRDS): The business will continue to grow especially with upcoming commissioning of additional capacity
    • Proprietary Novel Drugs: We plan to take one drug candidate to Phase I clinical trials in H2'FY22
    • Capex: We expect to incur capex of Rs 700-800 Crore in FY22 that includes addition of a new high speed fill and finish line with lyophilizer at Spokane site and expansion of CRDS capacity
    • Consolidated effective tax rate: ETR of Jubilant Pharmova Limited (Continuing Operations) for FY21 is 34.1%. The company's cash tax outflow is estimated to be at approximately 24% for the next three years. After exhaustion of the MAT credit, the Company's effective tax rate is expected to come down to around 25% in three years' timeframe

    Income Statement – Q4 & FY21

    All figures are in Rs Crore unless otherwise stated

    About Jubilant Pharmova Limited

    Jubilant Pharmova Limited (formerly Jubilant Life Sciences Limited) is a company engaged in pharmaceuticals, contract research and development services and proprietary novel drugs businesses. Pharmaceuticals business through Jubilant Pharma Limited Singapore (JPL) is engaged in manufacturing and supply of Radiopharmaceuticals with a network of 49 radio-pharmacies in the US, Allergy Therapy Products, Contract Manufacturing of Sterile Injectibles and Non-sterile products, APIs and Solid Dosage Formulations through six USFDA approved manufacturing facilities in the US, Canada and India. Jubilant Biosys Limited provides Contract Research and Development Services through two world class research centers in Bangalore and Noida in India. Jubilant Therapeutics is involved in Proprietary Novel Drugs business and is an innovative biopharmaceutical company developing breakthrough therapies in the area of oncology and auto-immune disorders. Jubilant Pharmova Limited has a team of around 5,800 multicultural people across the globe. The Company is well recognized as a 'Partner of Choice' by leading pharmaceuticals companies globally. For more information, please visit: www.jubilantpharmova.com.

    For more information, please contact:

    For Investors

    Hemant Bakhru | Pavleen Taneja
    Ph: +91-120 436 1002 | 21
    E-mail: hemant.bakhru@jubl.com
    pavleen.taneja@jubl.com

    Siddharth Rangnekar
    CDR India
    Ph: +91 22 6645 1209
    E-mail: siddharth@cdr-india.com

    For Media

    Sudhakar Safaya
    Ph: +91-120 436 1034
    E-mail: sudhakar.safaya@jubl.com

    Clayton Dsouza
    Madison Public Relations
    E-mail: clayton.dsouza@madisonpr.in
    Phone number: +91 9930011602

    Disclaimer

    Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential product characteristics and uses, product sales potential and target dates for product launch are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. Jubilant Pharmova may, from time to time, make additional written and oral forward looking statements, including statements contained in the company's filings with the regulatory bodies and its reports to shareholders. The company assumes no obligation to update forward-looking statements to reflect actual results, changed assumptions or other factors.

  • 19 April 2021

    Jubilant Pharmova’s subsidiary, Jubilant Pharma, announces the development of a novel oral formulation of Remdesivir with successful completion of safety and pharmacokinetic/absorption studies in animals and healthy human volunteers

    Jubilant Pharma Limited, a subsidiary of Jubilant Pharmova Limited, announces successful completion of safety and pharmacokinetic/absorption

    Noida – April 19 2021. Jubilant Pharma Limited, a subsidiary of Jubilant Pharmova Limited, announces successful completion of safety and pharmacokinetic/absorption studies in animals and healthy human volunteers in India using a novel oral formulation of remdesivir against the commercially available injectable formulation of remdesivir.

    Jubilant has sought authorization for additional studies for this novel oral formulation from the Drug Controller General of India (DCGI). Jubilant is hoping to provide an affordable, more convenient, easy-to-administer and potentially effective treatment option for COVID-19 patients. The proposed oral treatment is expected to be for 5 days, a duration similar to the injectable dosage form. Remdesivir is the first and the only anti-viral drug fully approved by the US FDA for the treatment of patients with COVID-19 requiring hospitalization.

    This innovative formulation is likely to ease the capacity constraint that injectable formulation faces and ensure wider and timely availability for the patients of COVID-19. It is specifically designed to avoid hepatic metabolism which results in almost complete first-pass clearance/elimination of remdesivir when it is administered by the traditional oral route. The findings from both preclinical and human studies indicate that the drug is able to undergo absorption when administered using the novel oral formulation. The novel formulation was well tolerated by all the study subjects with no additional safety/ tolerability profile as compared to the injectable product.

    In May 2020, Jubilant entered into a non-exclusive Licensing Agreement with Gilead Sciences, Inc. (NASDAQ: GILD) that granted it the right to register, manufacture and sell Gilead’s remdesivir in 127 countries including India. On July 20, 2020, Jubilant received approval from the Drug Controller General of India (DCGI) to manufacture and market the antiviral drug remdesivir (“JUBI-R”) for 100 mg/vial (lyophilized injection) for restricted emergency use in India for the treatment of severe COVID-19.

    “We are pleased to announce the ongoing development of a novel formulation of Remdesivir to address the pandemic at this critical juncture. Once approved, this will not only provide a more convenient and easy-to-administer formulation but also support an increasing demand of COVID-19 treatments.” stated Mr. Shyam S. Bhartia, Chairman and Mr. Hari S. Bhartia, Co-Chairman and Managing Director, Jubilant Pharmova Limited.

    About Jubilant Pharma Limited
    Jubilant Pharma Limited (JPL), a company incorporated under the laws of Singapore and a wholly-owned subsidiary of Jubilant Pharmova Limited, is an integrated global pharmaceutical company engaged in manufacturing and supply of Radiopharmaceuticals, Allergy Therapy Products, Contract Manufacturing of Sterile Injectables and Non Sterile products, APIs, and Generics, through six US FDA approved manufacturing facilities in the US, Canada and India and a network of 49 radiopharmacies in the US. The Company has a team of around 5,200 multicultural people across the globe. It is well recognized as a 'Partner of Choice' by leading pharmaceutical companies globally.
    For further information: Visit our website @ www.jubilantpharma.com

    About Jubilant Pharmova Limited
    Jubilant Pharmova Limited (formerly Jubilant Life Sciences Limited) is a company engaged in pharmaceuticals, contract research and development services and proprietary novel drugs businesses. Pharmaceuticals business through Jubilant Pharma Limited Singapore (JPL) is engaged in manufacturing and supply of Radiopharmaceuticals with a network of 49 radio-pharmacies in the US, Allergy Therapy Products, Contract Manufacturing of Sterile Injectibles and Non-sterile products, APIs and generics through six USFDA approved manufacturing facilities in the US, Canada and India. Jubilant Biosys Limited provides Contract Research and Development Services through two world class research centers in Bangalore and Noida in India. Jubilant Therapeutics is involved in Proprietary Novel Drugs business and is an innovative biopharmaceutical company developing breakthrough therapies in the area of oncology and auto-immune disorders. Jubilant Pharmova Limited has a team of around 5,800 multicultural people across the globe. The Company is well recognized as a ‘Partner of Choice’ by leading pharmaceuticals companies globally.

    For further information: Visit our website @ www.jubilantpharmova.com