Pharma contract manufacturing and research firms witnessed a disappointing third quarter, raising concerns among investors for a sector that was considered one of the best bets during the pandemic. As a result, most stocks in the category are trading close to their 52-week lows and analysts do not see an immediate growth trigger for the sector. B&K Securities in a report said: Specialty CDMO is on track to commercialise a fourth molecule in FY24. It derives a large portion of its revenues from the provision of contract research organisation services. Investment in the sterile injectables facility. Manchanda said that for a CDMO business operating from India, it is possible to earn Ebitda margins to the extent of 50–60%. Source - https://www.bqprime.com/business/contract-drugmakers-grapple-with-reality-check-after-covid-exuberance