Piramal Pharma: US Biosecure Act fuels gradual China+1 for Indian CDMOs

• The proposed US Biosecure Act could open a "China+1" opportunity for Indian CDMOs, including Piramal Pharma.
• Piramal Pharma expects the financial impact to be gradual, reflecting in P&L in 3-5 years, due to the Act's early legislative stage and a multi-year grandfathering clause.
• The Act, restricting biotech/pharma contracts with China, has passed the US House and awaits Senate vote and presidential assent.
• Piramal Pharma is well-positioned with five manufacturing sites in North America and has observed an uptick in requests for proposals (RFPs) from US clients.
• Even a partial shift of global pharma outsourcing from China would significantly benefit the Indian CDMO industry, despite China's current cost advantage.

Why It Matters: US Biosecure Act offers Indian CDMOs a long-term China+1 opportunity.