With AMRI's fees from Hoechst for Allegra the income statement may be distorted. I would try to determine what the company can do without those fees. You'd probably find it's on par with a specialty chemical company and not a drug company.
They do have a head start in this business (Oxford in England has thrown its hat in the ring) and other small players are on the horizon. Provided they can grow the core business it could be a good stock to own.