Defense, Gym Bros Provide Potent Mix for AlzChem Investors 

A once sleepy German chemicals maker is proving a massive hit with investors thanks to the boom in European defense spending and rising demand for a supplement used by body-builders and health enthusiasts.

Shares in Bavaria’s AlzChem Group AG have more than doubled in 2025, extending gains over the past three years to in excess of 560%. That’s by far the strongest performance among current members of Germany’s small-cap SDAX Index, which the chemicals firm joined late last year.