{"id":321225,"date":"2026-10-21T16:17:52","date_gmt":"2026-10-21T10:47:52","guid":{"rendered":"https:\/\/univest.in\/blogs-2\/?p=321225"},"modified":"2026-10-21T16:17:52","modified_gmt":"2026-10-21T10:47:52","slug":"branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list","status":"publish","type":"post","link":"https:\/\/univest.in\/blogs-2\/branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list\/","title":{"rendered":"3 Branded Formulations, Custom Synthesis and Research-Led CDMO Stocks With a Strong Future Roadmap: JB Chemicals and Pharmaceuticals, Divi&#8217;s Laboratories and Anthem Biosciences"},"content":{"rendered":"<p style=\"border-left:4px solid #1F4E79;background:#EBF3FB;padding:10px 16px;font-style:italic;\"><em>JB Chemicals and Pharmaceuticals, Divi&#8217;s Laboratories and Anthem Biosciences: ROE of 15.3% to 19.4% and FY22 to FY26 revenue CAGR of 5.1% to 15.5%. Prices as of 20 Oct 2026.<\/em><\/p>\n<div style=\"background:#F0F9FF;border-left:4px solid #2E7D32;border-radius:6px;padding:14px 18px;margin:18px 0;\">\n<p style=\"margin:0;color:#1F4E79;font-size:14px;\"><strong>Quick Answer<\/strong><\/p>\n<p style=\"margin:8px 0 0;\">The three pharma manufacturing and research stocks to watch are JB Chemicals and Pharmaceuticals, Divi&#8217;s Laboratories and Anthem Biosciences. Their return on equity ranges from 15.3% to 19.4%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.1% to 15.5%. Anthem Biosciences leads on both return on equity at 19.4% and revenue growth at 15.5% a year. Prices are based on the 20 October 2026 close, and this article is educational, not investment advice.<\/p>\n<\/div>\n<p>Pharma manufacturing and research stocks give investors exposure to companies that develop and make medicines for others as well as for their own brands. JB Chemicals and Pharmaceuticals, Divi&#8217;s Laboratories and Anthem Biosciences combine branded formulations, custom synthesis and research-led contract manufacturing.<\/p>\n<p>This list covers three pharma manufacturing and research stocks with complete current figures: JB Chemicals and Pharmaceuticals, Divi&#8217;s Laboratories and Anthem Biosciences. Every figure comes from the latest reported financials and the 20 October 2026 market close. Companies without complete current figures were left out.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/user\/log-in?utm_source=blogs&#038;utm_medium=branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list\">Click Here &#8211; Get Free Investment Predictions<\/a><\/strong><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/univest.in\/blogs-2\/branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list\/#What_Are_Pharma_Manufacturing_and_Research_Stocks\" title=\"What Are Pharma Manufacturing and Research Stocks?\">What Are Pharma Manufacturing and Research Stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/univest.in\/blogs-2\/branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list\/#Pharma_Manufacturing_and_Research_Stocks_at_a_Glance\" title=\"Pharma Manufacturing and Research Stocks at a Glance\">Pharma Manufacturing and Research Stocks at a Glance<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/univest.in\/blogs-2\/branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list\/#Why_Do_Pharma_Manufacturing_and_Research_Stocks_Have_a_Strong_Roadmap_in_India\" title=\"Why Do Pharma Manufacturing and Research Stocks Have a Strong Roadmap in India?\">Why Do Pharma Manufacturing and Research Stocks Have a Strong Roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/univest.in\/blogs-2\/branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list\/#Why_JB_Chemicals_and_Pharmaceuticals_Features_Among_These_Pharma_Manufacturing_and_Research_Stocks\" title=\"Why JB Chemicals and Pharmaceuticals Features Among These Pharma Manufacturing and Research Stocks\">Why JB Chemicals and Pharmaceuticals Features Among These Pharma Manufacturing and Research Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/univest.in\/blogs-2\/branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list\/#Why_Divis_Laboratories_Features_Among_These_Pharma_Manufacturing_and_Research_Stocks\" title=\"Why Divi&#8217;s Laboratories Features Among These Pharma Manufacturing and Research Stocks\">Why Divi&#8217;s Laboratories Features Among These Pharma Manufacturing and Research Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/univest.in\/blogs-2\/branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list\/#Why_Anthem_Biosciences_Features_Among_These_Pharma_Manufacturing_and_Research_Stocks\" title=\"Why Anthem Biosciences Features Among These Pharma Manufacturing and Research Stocks\">Why Anthem Biosciences Features Among These Pharma Manufacturing and Research Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/univest.in\/blogs-2\/branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list\/#JB_Chemicals_and_Pharmaceuticals_vs_Divis_Laboratories_vs_Anthem_Biosciences_on_Key_Financials\" title=\"JB Chemicals and Pharmaceuticals vs Divi&#8217;s Laboratories vs Anthem Biosciences on Key Financials\">JB Chemicals and Pharmaceuticals vs Divi&#8217;s Laboratories vs Anthem Biosciences on Key Financials<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-8\" href=\"https:\/\/univest.in\/blogs-2\/branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list\/#Key_Risks_to_Check_Before_Investing_in_Pharma_Manufacturing_and_Research_Stocks\" title=\"Key Risks to Check Before Investing in Pharma Manufacturing and Research Stocks\">Key Risks to Check Before Investing in Pharma Manufacturing and Research Stocks<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-9\" href=\"https:\/\/univest.in\/blogs-2\/branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list\/#Final_Thoughts_on_Pharma_Manufacturing_and_Research_Stocks\" title=\"Final Thoughts on Pharma Manufacturing and Research Stocks\">Final Thoughts on Pharma Manufacturing and Research Stocks<\/a><ul class='ez-toc-list-level-3' ><li class='ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-10\" href=\"https:\/\/univest.in\/blogs-2\/branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list\/#What_are_pharma_manufacturing_and_research_stocks\" title=\"What are pharma manufacturing and research stocks?\">What are pharma manufacturing and research stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-11\" href=\"https:\/\/univest.in\/blogs-2\/branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list\/#Which_pharma_manufacturing_and_research_stocks_are_covered_in_this_list\" title=\"Which pharma manufacturing and research stocks are covered in this list?\">Which pharma manufacturing and research stocks are covered in this list?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-12\" href=\"https:\/\/univest.in\/blogs-2\/branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list\/#Why_do_pharma_manufacturing_and_research_stocks_have_a_strong_future_roadmap_in_India\" title=\"Why do pharma manufacturing and research stocks have a strong future roadmap in India?\">Why do pharma manufacturing and research stocks have a strong future roadmap in India?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-13\" href=\"https:\/\/univest.in\/blogs-2\/branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list\/#How_has_JB_Chemicals_and_Pharmaceuticals_performed_financially\" title=\"How has JB Chemicals and Pharmaceuticals performed financially?\">How has JB Chemicals and Pharmaceuticals performed financially?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-14\" href=\"https:\/\/univest.in\/blogs-2\/branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list\/#How_has_Divis_Laboratories_performed_financially\" title=\"How has Divi&#8217;s Laboratories performed financially?\">How has Divi&#8217;s Laboratories performed financially?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-15\" href=\"https:\/\/univest.in\/blogs-2\/branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list\/#How_has_Anthem_Biosciences_performed_financially\" title=\"How has Anthem Biosciences performed financially?\">How has Anthem Biosciences performed financially?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-16\" href=\"https:\/\/univest.in\/blogs-2\/branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list\/#What_risks_should_investors_check_before_buying_pharma_manufacturing_and_research_stocks\" title=\"What risks should investors check before buying pharma manufacturing and research stocks?\">What risks should investors check before buying pharma manufacturing and research stocks?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-3'><a class=\"ez-toc-link ez-toc-heading-17\" href=\"https:\/\/univest.in\/blogs-2\/branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-roadmap-trailhead-list\/#Is_this_list_of_pharma_manufacturing_and_research_stocks_investment_advice\" title=\"Is this list of pharma manufacturing and research stocks investment advice?\">Is this list of pharma manufacturing and research stocks investment advice?<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"What_Are_Pharma_Manufacturing_and_Research_Stocks\"><\/span><strong>What Are Pharma Manufacturing and Research Stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Pharma manufacturing and research stocks are listed companies that make active ingredients, intermediates and formulations, often for global drug developers. Their earnings depend on long-term customer programmes, plant capacity and the complexity of the molecules they handle.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Pharma_Manufacturing_and_Research_Stocks_at_a_Glance\"><\/span><strong>Pharma Manufacturing and Research Stocks at a Glance<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">CMP (Rs)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Market Cap (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Industry P\/E<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">ROE (%)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">D\/E<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/jbchepharm\/jb-chemicals-and-pharmaceuticals-ltd-share-price-today\">JB Chemicals and Pharmaceuticals<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,408.9<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">38,731<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">54.6<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">36.0<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">17.1<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.00<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/divislab\/divi's-laboratories-ltd-share-price-today\">Divi&#8217;s Laboratories<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9,087<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">241,311<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">82.5<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">36.0<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.3<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.00<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\"><a href=\"https:\/\/univest.in\/stocks\/anthem\/anthem-biosciences-ltd-share-price-today\">Anthem Biosciences<\/a><\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">808.5<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">45,546<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">79.1<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">36.0<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">19.4<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">0.02<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>On valuation, all three trade at a P\/E above their industry P\/E, which reflects the growth the market already expects from them. Readers comparing pharma manufacturing and research stocks should look at return on equity and debt together, since a high return earned with low debt is easier to sustain.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Do_Pharma_Manufacturing_and_Research_Stocks_Have_a_Strong_Roadmap_in_India\"><\/span><strong>Why Do Pharma Manufacturing and Research Stocks Have a Strong Roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Pharma manufacturing and research stocks have a strong roadmap in India because global drug companies are moving more development and production work to partners with proven quality and scientific depth.<\/p>\n<ul>\n<li><strong>Outsourcing trend.<\/strong> Global drug developers are sharing more work with Indian partners.<\/li>\n<li><strong>Complex chemistry.<\/strong> Difficult molecules need skills that few suppliers can offer.<\/li>\n<li><strong>Brand strength.<\/strong> Domestic prescription brands add steady, repeat demand.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Why_JB_Chemicals_and_Pharmaceuticals_Features_Among_These_Pharma_Manufacturing_and_Research_Stocks\"><\/span><strong>Why JB Chemicals and Pharmaceuticals Features Among These Pharma Manufacturing and Research Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the pharma manufacturing and research stocks on this list, JB Chemicals and Pharmaceuticals is a Mumbai-based pharmaceutical company that sells branded formulations in India in cardiac, gastro-intestinal and other therapies, exports to several markets and runs a contract development and manufacturing business.<\/p>\n<p>Revenue rose from Rs 2,463 crore in FY22 to Rs 4,208 crore in FY26, a compound annual growth rate of 14.3%. Net profit grew from Rs 386 crore in FY22 to Rs 709 crore in FY26, which works out to a compound annual growth rate of 16.4%.<\/p>\n<p>The company has a return on equity of 17.1%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 38,731 crore. The stock trades at a P\/E of 54.6, above the industry P\/E of 36.0.<\/p>\n<p><strong>Roadmap:<\/strong> The company is strengthening its domestic brands through field force expansion and acquisitions while building its contract manufacturing arm for global customers. A mix of chronic and acute brands supports steady prescription demand.<\/p>\n<p><strong>What to watch:<\/strong> Monitor the growth of key domestic brands and the order flow in contract manufacturing.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Divis_Laboratories_Features_Among_These_Pharma_Manufacturing_and_Research_Stocks\"><\/span><strong>Why Divi&#8217;s Laboratories Features Among These Pharma Manufacturing and Research Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the custom synthesis shares on this list, Divi&#8217;s Laboratories is a Hyderabad-based maker of active pharmaceutical ingredients, intermediates and custom synthesis products, serving large global pharma companies from large-scale manufacturing sites.<\/p>\n<p>The company has a return on equity of 15.3%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 241,311 crore. The stock trades at a P\/E of 82.5, above the industry P\/E of 36.0.<\/p>\n<p>Revenue rose from Rs 9,074 crore in FY22 to Rs 11,067 crore in FY26, a compound annual growth rate of 5.1%. Net profit grew from Rs 1,823 crore in FY23 to Rs 2,568 crore in FY26, which works out to a compound annual growth rate of 12.1%. In the June 2026 quarter, revenue grew 24.3% year on year to Rs 3,144 crore, while net profit rose 65.5% to Rs 902 crore.<\/p>\n<p><strong>Roadmap:<\/strong> The company is a key supplier of ingredients for several widely used generics and has long-standing contract manufacturing relationships with global innovators. Capacity additions at its sites and a growing custom synthesis pipeline support future volumes.<\/p>\n<p><strong>What to watch:<\/strong> Check the order flow in custom synthesis and the commissioning of new capacity.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Why_Anthem_Biosciences_Features_Among_These_Pharma_Manufacturing_and_Research_Stocks\"><\/span><strong>Why Anthem Biosciences Features Among These Pharma Manufacturing and Research Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Among the three companies on this list, Anthem Biosciences is a research-driven contract development and manufacturing organisation that serves global pharma and biotech customers with discovery, development and manufacturing services.<\/p>\n<p>Revenue rose from Rs 1,280 crore in FY22 to Rs 2,280 crore in FY26, a compound annual growth rate of 15.5%. Net profit grew from Rs 406 crore in FY22 to Rs 592 crore in FY26, which works out to a compound annual growth rate of 9.9%.<\/p>\n<p>The company has a return on equity of 19.4%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 45,546 crore. The stock trades at a P\/E of 79.1, above the industry P\/E of 36.0.<\/p>\n<p><strong>Roadmap:<\/strong> The company offers an integrated platform from discovery to commercial manufacturing, which makes it a partner for innovator clients. Its biologics, peptides and small-molecule services give it several routes to growth.<\/p>\n<p><strong>What to watch:<\/strong> Monitor the order pipeline from global customers and the ramp-up of newer manufacturing capacity.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"JB_Chemicals_and_Pharmaceuticals_vs_Divis_Laboratories_vs_Anthem_Biosciences_on_Key_Financials\"><\/span><strong>JB Chemicals and Pharmaceuticals vs Divi&#8217;s Laboratories vs Anthem Biosciences on Key Financials<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The table below sets the three pharma manufacturing and research stocks side by side on revenue, profit and margin, using reported figures.<\/p>\n<div style=\"overflow-x:auto;\">\n<table style=\"border-collapse:collapse;width:100%;\">\n<thead>\n<tr>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Company<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY22 Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Revenue (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">Revenue CAGR (FY22-FY26)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Net Profit (Rs Cr)<\/th>\n<th style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;background:#F0F4F8;\">FY26 Net Margin<\/th>\n<\/tr>\n<\/thead>\n<tbody>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">JB Chemicals and Pharmaceuticals<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,463<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">4,208<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">14.3%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">709<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">16.9%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Divi&#8217;s Laboratories<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">9,074<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">11,067<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">5.1%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,568<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">23.2%<\/td>\n<\/tr>\n<tr>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">Anthem Biosciences<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">1,280<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">2,280<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">15.5%<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">592<\/td>\n<td style=\"border:1px solid #DDDDDD;padding:8px 10px;text-align:left;\">26.0%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<p>Anthem Biosciences posts the highest return on equity in this group at 19.4%. Divi&#8217;s Laboratories has the largest FY26 revenue at Rs 11,067 crore, and Anthem Biosciences shows the fastest revenue growth with a 15.5% compound annual rate. A useful habit with pharma manufacturing and research stocks is to check each new quarterly result against the capacity plans the company described earlier.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Key_Risks_to_Check_Before_Investing_in_Pharma_Manufacturing_and_Research_Stocks\"><\/span><strong>Key Risks to Check Before Investing in Pharma Manufacturing and Research Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Every theme carries risks that deserve a check before any decision. For these pharma manufacturing and research stocks, the main points are:<\/p>\n<ul>\n<li><strong>Customer concentration.<\/strong> A few large programmes can shape quarterly revenue.<\/li>\n<li><strong>Regulatory inspections.<\/strong> Plants must keep meeting quality standards of global regulators.<\/li>\n<li><strong>Valuation levels.<\/strong> Some of these companies trade at high earnings multiples, so growth must continue to justify them.<\/li>\n<\/ul>\n<p>Treat this list as a starting point for research and not as a recommendation. Read the latest results presentation, check the management commentary on order books or capacity plans, and compare each company with its peers before you decide anything.<\/p>\n<p style=\"margin-top:24px;\"><strong><a href=\"https:\/\/univest.in\/screeners\">Use the Univest Stock Screener<\/a><\/strong> to filter pharma manufacturing and research stocks by market capitalisation, P\/E, ROE and growth, and build your own shortlist.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Final_Thoughts_on_Pharma_Manufacturing_and_Research_Stocks\"><\/span><strong>Final Thoughts on Pharma Manufacturing and Research Stocks<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Pharma manufacturing and research stocks reward investors who track customer programmes, capacity and product mix. JB Chemicals and Pharmaceuticals, Divi&#8217;s Laboratories and Anthem Biosciences each offer a different route into this theme. Based on the 20 October 2026 close, JB Chemicals and Pharmaceuticals trades at Rs 2,408.9, Divi&#8217;s Laboratories at Rs 9,087 and Anthem Biosciences at Rs 808.5.<\/p>\n<p style=\"margin-top:24px;\"><em>Download the <a href=\"http:\/\/apps.apple.com\/in\/app\/univest-stocks-investment\/id6443753518\" rel=\"nofollow noopener\" target=\"_blank\">Univest iOS App<\/a> or <a href=\"http:\/\/play.google.com\/store\/apps\/details?id=com.univest.capp&#038;hl=en_IN\" rel=\"nofollow noopener\" target=\"_blank\">Univest Android App<\/a> to track pharma manufacturing and research stocks, set price alerts and get research-backed stock ideas.<\/em><\/p>\n<div style=\"background:#CC0000;border-radius:8px;padding:16px 20px;margin:24px 0;\">\n<p style=\"color:#FFFFFF;font-size:13px;line-height:1.7;margin:0;\"><strong style=\"color:#FFFFFF;\">Disclaimer:<\/strong> Data and figures in this article are sourced from publicly available information. These may or may not be accurate. Please verify all data with the official NSE (nseindia.com) and BSE (bseindia.com) websites before making any investment decision. Investments in securities are subject to market risk. This content is for educational purposes only and is not investment advice by Univest (SEBI RA INH000013776).<\/p>\n<\/div>\n<h3><span class=\"ez-toc-section\" id=\"What_are_pharma_manufacturing_and_research_stocks\"><\/span><strong>What are pharma manufacturing and research stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Pharma manufacturing and research stocks are listed companies that make active ingredients, intermediates and formulations, often for global drug developers. Their earnings depend on long-term customer programmes, plant capacity and the complexity of the molecules they handle. This list looks at three of them, JB Chemicals and Pharmaceuticals, Divi&#8217;s Laboratories and Anthem Biosciences, using reported FY22 to FY26 financials and the 20 October 2026 closing prices.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Which_pharma_manufacturing_and_research_stocks_are_covered_in_this_list\"><\/span><strong>Which pharma manufacturing and research stocks are covered in this list?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> This list covers JB Chemicals and Pharmaceuticals, Divi&#8217;s Laboratories and Anthem Biosciences. Based on the 20 October 2026 close, JB Chemicals and Pharmaceuticals traded at Rs 2,408.9, Divi&#8217;s Laboratories at Rs 9,087 and Anthem Biosciences at Rs 808.5. Their return on equity ranges from 15.3% to 19.4%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.1% to 15.5%.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Why_do_pharma_manufacturing_and_research_stocks_have_a_strong_future_roadmap_in_India\"><\/span><strong>Why do pharma manufacturing and research stocks have a strong future roadmap in India?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Pharma manufacturing and research stocks have a strong roadmap in India because global drug companies are moving more development and production work to partners with proven quality and scientific depth. The main drivers are as follows. Outsourcing trend. Global drug developers are sharing more work with Indian partners. Complex chemistry. Difficult molecules need skills that few suppliers can offer. Brand strength. Domestic prescription brands add steady, repeat demand. Together these factors give the companies on this list a visible path for growth over the coming years.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_JB_Chemicals_and_Pharmaceuticals_performed_financially\"><\/span><strong>How has JB Chemicals and Pharmaceuticals performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 2,463 crore in FY22 to Rs 4,208 crore in FY26, a compound annual growth rate of 14.3%. Net profit grew from Rs 386 crore in FY22 to Rs 709 crore in FY26, which works out to a compound annual growth rate of 16.4%. The company has a return on equity of 17.1%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 38,731 crore. The stock trades at a P\/E of 54.6, above the industry P\/E of 36.0. Looking ahead, the company is strengthening its domestic brands through field force expansion and acquisitions while building its contract manufacturing arm for global customers. A mix of chronic and acute brands supports steady prescription demand.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Divis_Laboratories_performed_financially\"><\/span><strong>How has Divi&#8217;s Laboratories performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 9,074 crore in FY22 to Rs 11,067 crore in FY26, a compound annual growth rate of 5.1%. Net profit grew from Rs 1,823 crore in FY23 to Rs 2,568 crore in FY26, which works out to a compound annual growth rate of 12.1%. In the June 2026 quarter, revenue grew 24.3% year on year to Rs 3,144 crore, while net profit rose 65.5% to Rs 902 crore. The company has a return on equity of 15.3%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 241,311 crore. The stock trades at a P\/E of 82.5, above the industry P\/E of 36.0. Looking ahead, the company is a key supplier of ingredients for several widely used generics and has long-standing contract manufacturing relationships with global innovators. Capacity additions at its sites and a growing custom synthesis pipeline support future volumes.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"How_has_Anthem_Biosciences_performed_financially\"><\/span><strong>How has Anthem Biosciences performed financially?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Revenue rose from Rs 1,280 crore in FY22 to Rs 2,280 crore in FY26, a compound annual growth rate of 15.5%. Net profit grew from Rs 406 crore in FY22 to Rs 592 crore in FY26, which works out to a compound annual growth rate of 9.9%. The company has a return on equity of 19.4%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 45,546 crore. The stock trades at a P\/E of 79.1, above the industry P\/E of 36.0. Looking ahead, the company offers an integrated platform from discovery to commercial manufacturing, which makes it a partner for innovator clients. Its biologics, peptides and small-molecule services give it several routes to growth.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"What_risks_should_investors_check_before_buying_pharma_manufacturing_and_research_stocks\"><\/span><strong>What risks should investors check before buying pharma manufacturing and research stocks?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> Investors should check a few risks before buying pharma manufacturing and research stocks. Customer concentration. A few large programmes can shape quarterly revenue. Regulatory inspections. Plants must keep meeting quality standards of global regulators. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. Reading the latest results presentation and comparing each company with its peers helps judge how these risks apply to each stock.<\/p>\n<h3><span class=\"ez-toc-section\" id=\"Is_this_list_of_pharma_manufacturing_and_research_stocks_investment_advice\"><\/span><strong>Is this list of pharma manufacturing and research stocks investment advice?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h3>\n<p><strong>Ans.<\/strong> No. This article is educational and uses publicly available data as of the 20 October 2026 close. Please verify figures on NSE and BSE, read company filings and consult a SEBI registered adviser before investing. Univest is SEBI registered research analyst INH000013776.<\/p>\n<div class=\"faq-schema\"><script type=\"application\/ld+json\">{\"@context\":\"https:\/\/schema.org\",\"@type\":\"FAQPage\",\"mainEntity\":[{\"@type\":\"Question\",\"name\":\"What are pharma manufacturing and research stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Pharma manufacturing and research stocks are listed companies that make active ingredients, intermediates and formulations, often for global drug developers. Their earnings depend on long-term customer programmes, plant capacity and the complexity of the molecules they handle. This list looks at three of them, JB Chemicals and Pharmaceuticals, Divi's Laboratories and Anthem Biosciences, using reported FY22 to FY26 financials and the 20 October 2026 closing prices.\"}},{\"@type\":\"Question\",\"name\":\"Which pharma manufacturing and research stocks are covered in this list?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"This list covers JB Chemicals and Pharmaceuticals, Divi's Laboratories and Anthem Biosciences. Based on the 20 October 2026 close, JB Chemicals and Pharmaceuticals traded at Rs 2,408.9, Divi's Laboratories at Rs 9,087 and Anthem Biosciences at Rs 808.5. Their return on equity ranges from 15.3% to 19.4%, and their revenue compound annual growth from FY22 to FY26 ranges from 5.1% to 15.5%.\"}},{\"@type\":\"Question\",\"name\":\"Why do pharma manufacturing and research stocks have a strong future roadmap in India?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Pharma manufacturing and research stocks have a strong roadmap in India because global drug companies are moving more development and production work to partners with proven quality and scientific depth. The main drivers are as follows. Outsourcing trend. Global drug developers are sharing more work with Indian partners. Complex chemistry. Difficult molecules need skills that few suppliers can offer. Brand strength. Domestic prescription brands add steady, repeat demand. 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A mix of chronic and acute brands supports steady prescription demand.\"}},{\"@type\":\"Question\",\"name\":\"How has Divi's Laboratories performed financially?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose from Rs 9,074 crore in FY22 to Rs 11,067 crore in FY26, a compound annual growth rate of 5.1%. Net profit grew from Rs 1,823 crore in FY23 to Rs 2,568 crore in FY26, which works out to a compound annual growth rate of 12.1%. In the June 2026 quarter, revenue grew 24.3% year on year to Rs 3,144 crore, while net profit rose 65.5% to Rs 902 crore. The company has a return on equity of 15.3%, a debt to equity ratio of 0.00 and a market capitalisation of Rs 241,311 crore. The stock trades at a P\/E of 82.5, above the industry P\/E of 36.0. Looking ahead, the company is a key supplier of ingredients for several widely used generics and has long-standing contract manufacturing relationships with global innovators. Capacity additions at its sites and a growing custom synthesis pipeline support future volumes.\"}},{\"@type\":\"Question\",\"name\":\"How has Anthem Biosciences performed financially?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Revenue rose from Rs 1,280 crore in FY22 to Rs 2,280 crore in FY26, a compound annual growth rate of 15.5%. Net profit grew from Rs 406 crore in FY22 to Rs 592 crore in FY26, which works out to a compound annual growth rate of 9.9%. The company has a return on equity of 19.4%, a debt to equity ratio of 0.02 and a market capitalisation of Rs 45,546 crore. The stock trades at a P\/E of 79.1, above the industry P\/E of 36.0. Looking ahead, the company offers an integrated platform from discovery to commercial manufacturing, which makes it a partner for innovator clients. Its biologics, peptides and small-molecule services give it several routes to growth.\"}},{\"@type\":\"Question\",\"name\":\"What risks should investors check before buying pharma manufacturing and research stocks?\",\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"Investors should check a few risks before buying pharma manufacturing and research stocks. Customer concentration. A few large programmes can shape quarterly revenue. Regulatory inspections. Plants must keep meeting quality standards of global regulators. Valuation levels. Some of these companies trade at high earnings multiples, so growth must continue to justify them. 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Compare price, valuation, return on equity and revenue growth as of 20 October 2026.<\/p>\n","protected":false},"author":28,"featured_media":321224,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[845],"tags":[9113,3803,14175,14174,457,14176,14173],"class_list":["post-321225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-stocks","tag-anthem-biosciences","tag-best-stocks","tag-cdmo-growth-stocks","tag-custom-synthesis-shares","tag-divis-laboratories","tag-jb-chemicals-and-pharmaceuticals","tag-pharma-manufacturing-and-research-stocks"],"metadata":{"rank_math_internal_links_processed":["1"],"_thumbnail_id":["321224"],"rank_math_title":["Pharma Manufacturing and Research Stocks to Watch"],"rank_math_description":["Compare 3 pharma manufacturing and research stocks with a strong future roadmap on CMP, market cap, P\/E, ROE and revenue growth. Data as of 20 Oct 2026."],"rank_math_focus_keyword":["pharma manufacturing and research stocks"],"rank_math_robots":["a:2:{i:0;s:7:\"noindex\";i:1;s:8:\"nofollow\";}"]},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/univest.in\/blogs-2\/wp-content\/uploads\/2026\/10\/3-branded-formulations-custom-synthesis-and-research-led-cdmo-stocks-with-a.webp","_links":{"self":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/321225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/comments?post=321225"}],"version-history":[{"count":1,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/321225\/revisions"}],"predecessor-version":[{"id":321226,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/posts\/321225\/revisions\/321226"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media\/321224"}],"wp:attachment":[{"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/media?parent=321225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/categories?post=321225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/univest.in\/blogs-2\/wp-json\/wp\/v2\/tags?post=321225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}