Bachem Stock - Saturday look at the peptide group’s long-term setup

Edited by ad hoc news Long-Term & Business-Model Desk. Verified prior to publication on 06/20/2026, 10:40 CET. Details in the imprint.

Bachem (CH0012530207) is a Swiss specialist for peptides and oligonucleotides supplying the global pharma and biotech industry. With no fresh corporate headlines today, the spotlight shifts to the group’s long-term strategy and investment program.

What recent numbers show

Bachem last reported full-year 2023 results on 03/19/2024, posting sales of CHF 532.3 million, down 10.5% year-on-year, and EBIT of CHF 35.1 million after CHF 103.2 million a year earlier, according to the company’s annual report.

The EBIT margin contracted to 6.6% in 2023 from 17.8% in 2022, reflecting weaker demand in some peptide projects and ramp-up costs for new capacity. Net profit fell to CHF 22.6 million compared with CHF 83.4 million in the prior year.

How management frames the strategy

Management continues to emphasize a long-term growth strategy built around large-scale capacity, complex peptides and nucleic acid-based APIs for pharma and biotech customers. The group positions itself as a key outsourcing partner for both clinical and commercial stages.

In its latest strategic communications, Bachem highlights a multi-year investment program with capital expenditure in the triple-digit million Swiss franc range to expand sites in Switzerland and abroad. The company argues that this capacity will support future demand in obesity, oncology and rare disease treatments.

Capex and capacity expansion

The company is investing heavily in its sites in Bubendorf and Vionnaz in Switzerland as well as in the United States. The program includes new production buildings, additional synthesis lines and infrastructure for oligonucleotide manufacturing.

These investments weigh on margins in the short term but are designed to allow Bachem to handle larger commercial volumes in peptides and oligonucleotides. The group expects the new capacity to come online gradually over the next few years.

Customer base and pipeline exposure

Bachem’s customer base includes large pharmaceutical companies as well as smaller biotech firms developing peptide and oligonucleotide drugs. Revenue comes from both contract manufacturing and development services, spanning early-stage research to commercial supply.

This mix means Bachem is indirectly exposed to trends in obesity, metabolic disease and cancer research. As more peptide and oligonucleotide candidates advance in pipelines, potential demand for specialized manufacturing capacity could increase over time.

Financial position and risk profile

The company has historically maintained a solid balance sheet, which supports its investment program and helps weather cyclical softness in project activity. However, high capex and lower recent profitability mean execution on new capacity utilization remains an important focus.

Investors also watch regulatory and quality requirements closely in this highly regulated market. Any delays in customer projects or regulatory approvals can affect short-term order intake and visibility.

How the company makes money

Bachem generates revenue by developing and manufacturing active pharmaceutical ingredients based on peptides and oligonucleotides for global pharma and biotech customers. The business combines custom development projects with longer-term commercial supply contracts for approved therapies.

Where the stock trades today

The shares of Bachem (CH0012530207) trade on SIX Swiss Exchange in Zurich; the latest available quote shows the stock in Swiss francs on the Swiss market.

This article was AI-assisted and editorially reviewed. Price and company data without warranty; prices and dates may change at short notice. No investment advice, no buy or sell recommendation. Trading securities involves risk up to total loss of capital.