Crams

Early enactment would compel the US biotech/pharma industry to cut reliance on China

Sai Life Sciences: Strong start keeps CDMO business in the lead

India’s limited share in the CRDMO market presents strong headroom for growth

Syngene: How soon can it overcome near-term worries?

The CRDMO player is still to see the full impact of the client’s inventory rationalisation

Syngene: US acquisition underlines welcome tweak in business model

Acquisition of Emergent Manufacturing Operations Baltimore LLC facility ensures proximity to one of the innovation hubs in the US, which is critical for a CRDMO player.

Syngene: Conversion of pilot projects to long-term contracts a big positive

The company remains a strong play on the global China-switch strategy

Syngene: Strong play on ‘China Switches’ in the CRAMS space

The shift in global supply chains in the post-pandemic world –described as China Switches by the company – has led to the setting up of pilot projects across a broad range of services.

Syngene: The preferred pick for sector re-allocation

This strong CRAMS play can benefit from the easing funding crisis in the biotech industry, and the shift in global supply chains, in the post-pandemic world

PI Industries: New products, pharma to define medium-term growth

PI has guided to a 15 percent top-line growth and 24-25 percent EBITDA margin in FY25

Weekly Tactical Pick: China+1 trend to enhance earnings visibility for this CRAMS player

Fundamentals are improving for Syngene while the stock is in a consolidation phase

Growth momentum intact at PI Industries

PI’s business remains shielded from the sensitivities attached to the agrochemical business

Syngene: Preferred CRAMS play for the long term

The company’s underperformance, compared to the Nifty, is not justified, and there is merit in considering the stock at the current levels. In the medium term, complex APIs and biologics manufacturing would be the growth drivers.

Syngene: Stock correction serves as an opportunity to move in

The key macro headwind is the slowdown in funding in the US biotech end-market. However, in the medium term, complex APIs and biologics manufacturing would be the leading growth drivers

Syngene: Inorganic initiative to speed up biologics manufacturing bandwidth

In the medium term, complex APIs and biologics manufacturing would be leading growth drivers.

PI Industries: Volume-led growth to continue for this richly-valued stock

The company, with superior execution and solid business model, is on track to achieve its long-term strategic objectives

Laurus Labs: Is the worst priced in?

We expect FY24 to be the year of consolidation for top-line growth. Margins are expected to bottom out as operating leverage kicks in first for formulation capacity and later on for CDMO opportunity.

Syngene: Timeline for follow-through in Zoetis contract key catalyst to watch

Another growth lever to watch in manufacturing is that of the Mangalore API facility. Here the USFDA approval is expected in H2FY24.

Laurus Labs Q2: What worked, what didn't?

Capex execution will be key to the company’s growth prospects; diversification initiatives should be supportive

Syngene: Can it keep its premium valuation, going forward?

Investment in biologics is expected to remain recurring as new opportunities are unfolding in the field of biologics for Syngene

Hikal: Is the worst over?

The reopening of the Taloja plant should help the company consolidate business

Laurus Labs: Diversification picks up pace

Near-term challenges with respect to supply are easing off

Navin Fluorine: Diversification away from agrochemicals to set it apart

Navin Fluorine is increasingly looking towards fluoro applications in performance materials. Among the new product platforms to watch out for would be those of fluoropyridine

Syngene: Multi-year contract with Zoetis adds to long-term visibility

The risk to watch is the execution in the field biologics and the pending regulatory approvals

Laurus Labs: This pharma stock gets a shot in the arm

Relatively better growth visibility and the recent steps towards diversification support our long-term conviction on this scrip.

Divi’s Labs: Steady margin profile amid cost headwind

Earnings trigger for the medium term is Contrast Media API opportunity, where there is limited competition

Aether IPO | This niche chemical player is a leader of the pack. How?

The company’s success depends on identifying the molecule/product opportunity, investing behind R&D and implementing processes/integration to scale it up