Concord Biotech: A bad year or a bigger opportunity?

The question for investors is whether this marks a structural decline in the business or a temporary setback for a high-quality compounder? Concord Biotech: 1-Year Stock Price Movement Source: http://www.tradingview.com Before assessing whether Concord Biotech is an investable thesis, it is important to understand what the company actually does. Its moat is invisible unless we understand how these medicines are made. Two ways to make a medicine Medicines are primarily produced through two methods: chemical synthesis and biotech manufacturing. Chemical synthesis involves precise reactions in stainless steel reactors to create reproducible, atom-for-atom identical molecules like Aspirin. Biotech manufacturing uses engineered…