US CDMO business seeing softening, says Piramal Pharma Chairperson

US biotech funding slowdown hits Piramal's CDMO business as company expands sterile injectables facility and maintains long-term growth targets

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 organisation (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 Rs 997 crore. Barring