MACQUARIE ON INDIA PHARMA
India's contract research, development, and manufacturing (CRDMO) sector is benefiting from secular growth as well as regulatory tailwinds.
Indian CDMOs emerging as growth leaders in small molecules
Industry set to grow at 14% CAGR to $14bn by FY28
US Biosecure Act to accelerate growth to late teen for Indian CDMO industry
Divis Labs and Suven Pharma standout as product led CDMO working on new technologies
Expect 1000bps improvement in EBIDTA Margins and 1.5-2x improvements in ROICs by 2030
Within regional CDMO coverage of 11 companies, prefer Indian and Korean CDMOs with Divi's Labs and Samsung Bio as top picks.
Divi's Labs-Initiate Outperform-TP 4700
Syngene-Initiate Outperform-TP 835
Suven Pharma-Initiate Outperform-TP 1500
India's contract research, development, and manufacturing (CRDMO) sector is benefiting from secular growth as well as regulatory tailwinds.
Indian CDMOs emerging as growth leaders in small molecules
Industry set to grow at 14% CAGR to $14bn by FY28
US Biosecure Act to accelerate growth to late teen for Indian CDMO industry
Divis Labs and Suven Pharma standout as product led CDMO working on new technologies
Expect 1000bps improvement in EBIDTA Margins and 1.5-2x improvements in ROICs by 2030
Within regional CDMO coverage of 11 companies, prefer Indian and Korean CDMOs with Divi's Labs and Samsung Bio as top picks.
Divi's Labs-Initiate Outperform-TP 4700
Syngene-Initiate Outperform-TP 835
Suven Pharma-Initiate Outperform-TP 1500
