The contract development and manufacturing organization (CDMO) industry continues to attract the interest of the investment community. Several factors are behind this interest including expectations of continued growth driven by megatrends such as a graying world population and advances in health care standards in emerging and developing countries that are poised to drive up pharmaceutical consumption. Other factors include the increasing trend toward outsourcing of development and manufacturing activities by pharmaceutical companies combined with opportunities to improve margins by consolidating the CDMO supply structure and optimizing operations implementing best practices learned from other industries.