Narrow-Moat Siegfried Benefits From Healthy Drug Outsourcing Demand; Positive Long-Term Outlook

Siegfried Holding is a leading, global contract development and manufacturing organization, or CDMO. Siegfried was founded over 150 years ago in 1873 as the first pharmacy wholesaler, and it has reinvented itself several times over its history and evolved into a global player with advanced manufacturing facilities and lengthy customer relationships. Siegfried's growth over the last 14 years has allowed it to become a leading CDMO. Since 2010, sales have quadrupled and the workforce has grown fivefold. The company has expanded from three manufacturing sites to 13 across seven countries, and this scale has allowed the company to further develop its contract manufacturing business.