10 CDMO Businesses Decoded

CDMO businesses can look similar from the outside, but the real question is: what actually separates a great CDMO from the rest? In this podcast, Ishmohit and Sid will discuss their years of research through the SCALE UP framework, covering stickiness, chemistry, anchor clients, late-stage pipelines, Capex economics, utilisation and price. They will also break down the 6-tier CDMO mental model, industry growth drivers, AI, peptides, China-to-India shifts, regulatory barriers and the lumpiness of CDMO earnings. If you want to understand how to evaluate CDMO businesses before forming a view on individual stocks, this episode is worth your time.