1. Peptide capacity expansion - The new large-scale solid-phase synthesis block, set to add one of the largest solid-phase synthesis capacities in India, completes commissioning by end-FY27. This lands as GLP-1 patents expire through 2027, and the segment already carries a firm order book for FY27.
2. Semaglutide vertical integration - Validation batches are done, the DMF files by 1HFY27, and a dedicated automated peptide facility is planned for next year. Captive API feeding own injectable and oral formulations targets FY28 launches in RoW, with major sales going to the captive route.
3. Specialty CDMO commercialization - Three late-stage NCE programs enter commercialization, one already FDA-approved and one with a June-2026 PDUFA date; commercial supplies to a European customer start 2HFY27. Revenue doubled YoY to ₹36 cr in 1QFY27, and 25+ programs sit in earlier stages to feed the pipeline.
4. Oncology API blockbusters - 15+ new oncology APIs, targeting patent expiries through 2032, complete validation in FY27, with a new block commissioned the same year. Management says each product already has an end customer lined up, and 4-5 are in advanced development for FY28-FY29 launches.
5. NorUDCA India ramp - Launched in November 2025 with three marketing partners plus own label, the order book is firm for FY27 and QoQ growth has been steep since launch. Management targets 10-20% share of India's NAFLD treatment market, with global Phase II studies starting FY27.
6. Rotigotine patch launches - EMA approval is in hand with Europe launch planned FY27, and the U.S. ANDA was filed in Q4 FY26 with approval expected FY27. Combined addressable markets exceed USD 330 mn, and Shilpa has a U.S. commercialization partner on board.
7. Unicycive OLC commercial supply - A dedicated block is being built, the NDA was resubmitted with a June-29-2026 PDUFA date, and Shilpa is the exclusive manufacturer of both drug substance and product. Commercial revenues are expected in 2HFY27 once approval lands.
8. 505(b)(2) US portfolio - Three approved NDAs are gaining share quarterly, led by Pemetrexed RTU, with five more differentiated programs in development. US formulation revenue grew from ₹54 cr in FY25 to ₹80 cr in FY26, and the pipeline targets limited-competition niches.
9. Nivolumab biosimilar Europe - The Orion Corporation co-development and exclusive supply agreement covers Europe, with milestone payments plus long-term supply revenue; India Phase I/III trials have started. Nivolumab market size in Europe was \~USD 410 cr in 2025, and approval is targeted FY29.
10. ADC integrated facility - The Dharwad ADC GMP facility is commissioned and fully operational, one of very few in India with integrated payload, linker, and conjugation. The first in-house ADC biosimilar enters human studies FY27, with registration batches for a payload already completed for a big pharma customer.