CDMO is margin accretive but is it predictable ? Is that not Lumpy business ?
How an innovator will look at Laurus when they want to offer a CRO / CDMO opportunity to Laurus where in the end product (therapeutic) market Laurus is also can become competitor ? (Not necessarily same like to like formulation )
FDF : What is that unique edge that Larus has in this space, these must be like any generics (few of them might be F2F or choosing complex molecules like Natco ). These drugs are sold in India or out of India? All the big Indian generic players are struggling to maintain margins in cut throat US market. More or less same is the situation with margins in other geographies.
API : Divis success is because of its “Pure API Play” , they never wanted to get into formulations at all. In Laurus case why a Formulator buy APIs from Laurus and then compete with them in the formulations market ?
Disc : Invested, looking for anti thesis pointers