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US CDMO business seeing softening: Piramal Pharma
Business Standard
|July 30, 2025
Piramal Pharma, which is eyeing a $2 billion top line by 2029-2030 (FY30), has seen a slight softening in the contract development and manufacturing organization (CDMO) business in the US due to various factors like slowdown in funding for early-stage biotech projects.
The company had set a target to double its CDMO revenues to $1.2 billion by FY30, implying early-to-mid teens CAGR revenue growth over the next five years. CAGR stands for compound annual growth rate. In the first quarter of the current financial year (Q1FY26), the CDMO revenues fell 6 per cent year-on-year (Y-o-Y) to ₹997 crore. Barring the impact of de-stocking in one large on-patent commercial product, the base business has seen mid-teens growth.
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