Archive · 29 Nov 2025
Anthem Biosciences Rated Buy with Strong Growth Outlook
Nomura, a big finance company, thinks Anthem Biosciences is a good company to invest in.
They say Anthem is doing well because it helps make medicines and does research.
Nomura believes Anthem will grow a lot in the next few years and set a price target of Rs 740 for December 2026.
They like that Anthem works with many different kinds of medicines and has good relationships with its clients.
However, they also say that Anthem depends a lot on just a few medicines, which could be a problem.
Speciality chemical makers are also doing well because they supply companies that make medicines.
These companies have clearer growth and make more money than other chemical companies.
Indian companies that make bulk drugs are also investing in research to make more kinds of medicines and work with global drugmakers.
This is because global companies want to move their work away from China.
Overall, these companies are growing and doing well.
Nomura India initiates coverage on Anthem Biosciences with a 'Buy' rating and a December 2026 target price of Rs 740.
Anthem's integrated CRDMO platform and strong execution capabilities position it for sustained medium-term growth.
India's CRDMO industry is expected to grow at 13% annually to reach $15.4 billion between CY24 and CY29, outpacing the global industry's 9% growth.
Speciality chemical makers supplying pharma companies enjoy clearer growth visibility, less competition, and stronger margins compared to other chemical businesses.
Indian bulk drug manufacturers are investing in R&D and expanding into drug discovery, development, and scaled manufacturing to compete globally in the CDMO market.
- Who
- Anthem Biosciences, Nomura India, Speciality Chemical Makers, CDMO Companies
- What
- Nomura initiates coverage with 'Buy' rating and target price of Rs 740; Speciality chemical makers bet on pharma momentum; Indian bulk drug makers invest in CDMO capabilities
- When
- December 2026 target price; Projected CDMO market growth by 2035
- Where
- India
- Why
- Strong CRDMO platform, execution capabilities, and medium-term growth outlook; Pharma-linked chemical firms enjoy clearer growth visibility, less competition, and stronger margins
- Company
- Anthem Biosciences
- Brokerage
- Nomura India
- Target Price
- Rs 740 (December 2026)
- Estimated EPS (2027)
- Rs 14.8
- Valuation Multiple
- 40–60 times
- Industry Growth (India, CY24-CY29)
- 13% annually to $15.4 billion
- Global CRDMO Growth
- 9% annually
- Top Two Molecules Revenue Contribution (FY26-FY28)
- 36–38%
- CDMO Market Share (India)
- 2-3% of $145 billion global market