OneSource Specialty Pharma Ltd. share price target

We recently visited OneSource’s drug-device combination (DDC) manufacturing plant in Bangalore. OneSource is the only CDMO with generic semaglutide approvals across the G7 nations.

Q1FY27 marks the beginning of commercial supplies of generic semaglutide for OneSource, leading to strong growth of 37.2%/39.4%/63% in revenue/EBITDA/PAT, respectively.

Delay in generic semaglutide approvals from Canadian regulator may shift the launch timeline by a quarter; however, with a few customers securing the approval in India and approvals in Brazil and Saudi Arabia expected to flow in, OneSource’s management remains confident of the upcoming opportunity, and hence, maintains FY28 guidance for its base business.