Mahesh, as usual your research is super.
I think Syngene being involved right from the starting stages of a molecule i.e., Innovation is what makes market think twice on according high valuations. At least until it sees consistency and sustainability or the impact on revenues will no longer depend on molecule innovation.
Contrast this with other high quality CRAMS Players where the costs of R&D, innovation is the onus of MNCs while the Indian companies happily end up bulk manufacturing them with the cost advantages that Indian companies have.
Not invested in Syngene.
Also, I’m not convinced about Ms. Kiran Mazumdar Shaw’s management ability and who after her will run the show – I have not researched enough though. Please throw more light on this aspect of management capabilities.
Thank you so much.
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