Last updated : June 16, 2026 7:37 am
Since 2022, we have grown threefold and our growth story is built on scale, scientific innovation and deep customer partnerships
In an exclusive interview with Rahul Koul, Editor, indian Pharma Post spoke to Akhil Ravi, Chief Executive Officer, Aurigene Pharmaceutical Services Limited (APSL), a global Contract Development and Manufacturing Organization (CDMO) and a wholly-owned subsidiary of Dr. Reddy’s Laboratories, to know more on company’s journey so far and key priorities; initiatives and investments; focus areas and future outlook. Read the excerpts:
How has Aurigene Pharmaceutical Services evolved since you assumed the role of CEO in 2022, and what were your key priorities when you stepped into the position?
When I took over in early 2022, the industry was just emerging from the disruptions caused by the pandemic. At the same time, I was entering a sector that was completely new to me, so my first priority was to learn the business before attempting to shape its future direction.
We focused on rebuilding the leadership team to support scale, sharpening our strategy around the strengths we inherited from the Dr. Reddy’s Group, and creating stronger end-to-end processes across the organization. During COVID, many functions had naturally operated in silos, but we needed a more integrated operating model that could seamlessly connect sourcing, development, manufacturing, and delivery.
I spent considerable time meeting customers, understanding their needs, and visiting our facilities across Hyderabad, Bengaluru, India, the UK, and Mexico. Those efforts helped us lay a strong foundation. Since then, the company has grown more than threefold, significantly expanded its pipeline, and established several strategic collaborations. The first year and a half was challenging, but once the fundamentals were in place, growth accelerated.
What were the major contributors behind this threefold growth?
Growth came from three key areas. First, our drug discovery business more than doubled. We expanded capacity in our traditional small-molecule discovery operations, invested in talent and infrastructure, and built a new antibody drug discovery capability from the ground up. In 2022, we had virtually no antibody discovery revenue; today, we have multiple collaborations in this area, some of which have progressed into our CDMO business.
Second, our CDMO business benefited from projects that had been initiated several years ago and subsequently received FDA approvals. Over the last four years, four molecules developed through Aurigene have received FDA approvals, creating substantial growth opportunities.
Third, we established our biologics CDMO business. While it is still in its early stages compared to our other segments, it has already begun contributing to overall growth and expanding our capabilities.
Aurigene was formed through the integration of multiple service businesses in 2020. How has this integration translated into customer value, and what have been the company’s key milestones?
The integration brought together businesses that had evolved separately since the early 2000s. While customer synergies were important, one of the primary objectives was to build a service-oriented culture distinct from the product-led mindset of the broader group.
Some of our most important milestones include expanding our drug discovery collaborations, adding more than 20 new antibody discovery programs, securing four FDA approvals, launching our biologics CDMO business, and introducing our AI-powered drug discovery platform. We have also successfully delivered products from our first biologics projects into patients.
From a customer perspective, one of the strongest indicators of success is repeat business. Many clients who initially engaged us for one project have since entrusted us with additional programs and broader mandates. That demonstrates confidence in our capabilities and service quality.
Integration has also enabled us to offer customers a seamless pathway from discovery through manufacturing. Instead of working with multiple partners, clients can move programs internally across our ecosystem, benefiting from shared expertise in manufacturing, supply chain management, quality systems, and regulatory compliance.
The CRDMO sector is highly competitive. What differentiates Aurigene from other players?
It is important to remember that India's share of the global CRDMO market is still only around 3%. Our real competition is not within India but across global players in the US, Europe, and China.
In drug discovery, our leadership team brings a biotech mindset. Many have previously worked in large pharmaceutical companies or led drug discovery programs themselves. This gives us a deeper understanding of what customers need and allows us to offer highly integrated solutions.
We have also embedded lean methodologies throughout our operations to improve productivity and efficiency. Additionally, our AI-driven drug discovery platform has already helped customers identify both first-in-class and best-in-class molecules.
In antibody drug discovery, we have built specialized talent, advanced infrastructure, and comprehensive workflows. This remains a relatively niche area in India, which gives us a competitive advantage.
On the CDMO side, our greatest strength lies in scale and flexibility. We can support projects from gram-level quantities all the way to commercial-scale manufacturing. Dedicated facilities, continuous investments, and the backing of a larger group provide customers with confidence in our quality, regulatory track record, and financial stability.
What investments has Aurigene made in recent years, and where are you focusing future investments?
Over the last three years, and extending into the coming year, we have committed close to $100 million in investments.
A significant portion has gone toward expanding manufacturing capacity across our API facilities in India and the UK. We have also invested heavily in our peptide business, where we are seeing growing demand from both biotech companies and large pharmaceutical firms.
Another major area of investment has been biologics. We established dedicated R&D laboratories and early-stage manufacturing capabilities for biologics and subsequently expanded commercial-scale capacity.
The third focus area has been strengthening our drug discovery infrastructure. We have upgraded laboratories and expanded capabilities across chemistry, biology, and biologics. Overall, our investments are concentrated around discovery, manufacturing, and biologics to support long-term growth.
Antibody drug discovery is emerging as a strategic focus area. How significant has this business become?
While there are a few established players in India, antibody drug discovery is still a relatively specialized segment compared to small-molecule discovery.
We have completed more than 20 integrated antibody discovery programs, many focused on bispecific antibodies. In these projects, customers bring us a target, and we leverage our platform technologies to develop antibodies that can be advanced through preclinical and eventually clinical development.
Although I cannot disclose specific client numbers or revenue contributions, I can say that this business has been a significant driver of our growth over the past four years.
How has Aurigene’s revenue trajectory evolved over the last few years, and which segments are driving growth today?
We have consistently delivered annual growth in the range of 20–30% on a CAGR basis over the last three years.
Initially, much of this growth was driven by our drug discovery business. More recently, however, the CDMO segment has become an increasingly important contributor. This shift is being driven by a larger number of projects, progression of molecules into late-stage clinical development, and the commercial scale-up of products that have received regulatory approvals. Together, these factors are creating strong momentum for the CDMO business.
How do you view the future of the global CRDMO industry, and what gaps still need to be addressed within India?
The global CRDMO market is expected to grow at around 7–8%, while India's industry is projected to grow at approximately 15–18%. That means India is expanding at roughly twice the global rate.
India's strengths lie in talent, manufacturing expertise, and capacity. At the same time, the industry continues to invest in quality systems, digitization, and scale. Regulatory performance has improved significantly over the last decade, and many facilities now undergo inspections with minimal observations.
However, India still accounts for only about 3% of the global market, compared to roughly 25% for China. To reach that scale, the industry must continue investing in infrastructure, capabilities, and customer confidence.
The encouraging part is that this transformation is already underway. Global pharmaceutical companies have expanded their presence in India, established supply chains and GCCs here, and increasingly view India as a strategic partner. The question is no longer whether India will grow, but how quickly it can accelerate that growth.
How do you see Aurigene evolving from a service provider into a strategic innovation partner over the next three to five years?
Becoming a true partner means understanding a customer's needs and then building the technologies, capabilities, or infrastructure required to address them. It requires far more than simply providing a service.
We are focused on staying ahead of technological shifts in pharmaceutical innovation. Areas such as peptides, bispecific antibodies, small-molecule APIs, and AI-driven drug discovery are strategic priorities for us, and we intend to deepen our expertise in each of them.
Going forward, our priorities will be maintaining organizational agility, investing in scientific talent, attracting experienced global professionals back to India, and continuing to expand our capabilities and capacity. Ultimately, our success will depend on how effectively we listen to our customers, anticipate their needs, and build solutions that help them innovate faster.