By S. JHA
Divis Labs, Laurus Labs, Gland Pharma, Neuland and OneSource are expanding complex drug and CDMO capabilities.
Mumbai, August 17, 2026 — India’s pharmaceutical and contract development and manufacturing organisation (CDMO) industry is entering a potentially strong investment and capacity cycle, with complex APIs, peptides, GLP-1 drugs, sterile injectables and global supply contracts emerging as major growth drivers.
The latest Fastest Growing Businesses report from SOIC × StockScans identifies CDMO and healthcare as one of the key industry groups and tracks pharmaceutical API, CRAMS and formulation businesses.
Divis Laboratories is building several growth engines simultaneously. Three dedicated custom-synthesis projects have cleared validation, with commercialisation expected in the third or fourth quarter of calendar 2027, subject to customer regulatory approvals.
The projects are backed by a roughly ₹2,000 crore capital expenditure programme, about 70% of which has already been capitalised.
Peptide manufacturing is another major opportunity. Divis has completed a dedicated peptide building-block facility with commercial-scale reactors and is adding further reactor capacity. The company is already validating peptide fragments for Big Pharma customers and has long-term contracts involving GLP-1, GIP and GLP-2 molecules.
The company has also entered iodine-based contrast media, where commercial sales are already underway and long-term contracts are being developed.
Laurus Labs is pursuing a similar shift toward higher-value CDMO activities. Its small-molecule CDMO sales reached ₹835 crore in Q1 FY27, up 69% year-on-year. Commercial supplies now account for 55% of CDMO revenue, while the company has a pipeline of more than 125 active projects.
Laurus is targeting at least 50% of overall revenue from its CDMO business by FY30. Its upcoming manufacturing facilities, including Unit 7 and additional units planned for FY28, are expected to significantly expand small-molecule capacity.
The company’s peptide manufacturing block is also being prepared for commercial validation, while a fermentation facility in Vizag is expected to add another growth leg.
Gland Pharma is building capacity in sterile products, ready-to-use bags and specialised injectables. Its strategic manufacturing agreement with an undisclosed global pharmaceutical company covers 55 sterile injectable SKUs across three sites, with potential annualised revenue of $90 million-$100 million once the products are commercialised.
Gland is also targeting about 15% constant-currency growth in FY27, with potential upside if additional approvals arrive. Its management has retained a longer-term growth trajectory of about 20%, according to the report.
Neuland Laboratories is expanding its sterile API capabilities while adding capacity at its existing plants. Its management aspires to about 20% revenue growth in FY27 and FY28. A new peptide plant is expected to be commissioned in September 2026, while additional commercialisations are planned over FY27 and FY28.
OneSource Specialty Pharma is another notable growth story. Its Q1 FY27 revenue rose 37% year-on-year to ₹449 crore, helped by the commercial ramp-up of semaglutide products. The company has three G7 semaglutide approvals and has begun shipments to Canada.
OneSource is expanding sterile production through additional cartridge lines. A third line planned during FY27 would take the company’s available sterile days to roughly 675 from about 225 currently. Management has reiterated a FY28 organic revenue target of $400 million with an EBITDA margin of about 40%.
The broader theme is a shift away from commoditised pharmaceutical manufacturing toward complex and specialised products. Peptides, GLP-1 drugs, sterile injectables, contrast media and high-value CDMO contracts are creating opportunities for companies that can add capacity and meet global regulatory requirements.
The report, however, presents these developments as growth catalysts and management guidance rather than investment recommendations.
(This article is only for informational purposes. No investment advice is here made.)
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