Issue No. 68 - April 2026
Discover our latest edition featuring strategic CDMO insights, investment perspectives and industry analysis.
CDMO strategy
Onshoring Opportunities for U.S. Manufacturing
The model based on producing at the lowest
cost, optimized to the extreme, has revealed
its vulnerability in the face of health, geopolitical,
and climate crises. Now, the priority is to
produce closer to home, more safely, and more
sustainably, making resilience a strategic issue
for competitiveness and sovereignty.
FINANCE & M&A
Analysis of Financial Performance
and Value Dynamics
The CDMO sector is no longer simply a hierarchy of margins or multiples. It is now organized around distinct industrial trajectories, where the ability to invest, integrate,
and scale up becomes as crucial as immediate profitability.
FINANCE & M&A
When productivity, investment, and valuation tell divergent stories
A cross-analysis of three key indicators—labor productivity (EBIT per employee), profitability (EBITDA margin),
and valuation (EV/EBITDA)—enriched by a fourth, often
underestimated dimension, the level of investment (Capex),
allows for a more in-depth understanding. It reveals not
only a sectoral hierarchy, but above all, profoundly different
business models
LEGAL & COMPLIANCE
Revealing Contractual Fragilities
The current geopolitical situation,
particularly the closure of strategic shipping
routes, raises questions about the resulting
supply tensions and their impact on the
relationships between subcontractors
and prime contractors. This article aims
to provide an overview of the main legal
aspects and issues arising from this
exceptional situation, which has significant
repercussions for subcontractors and
prime contractors alike