Syngene International Limited, the global Contract Research and Manufacturing powerhouse, has embarked on a spree of strategic acquisitions and expansions to fuel its future growth. The most significant among these is the acquisition of a biologics manufacturing facility from Stelis Biopharma Ltd., boosting Syngene’s capabilities and production capacity in the biologics domain.
Simultaneously, the company’s robust first-quarter results, revealing a 26% YoY growth in both revenue and profit after tax, are indicative of its sound financial standing. The results reflect a strong performance by Development and Manufacturing Services, buttressed by sustained growth in the research divisions: Discovery Services and the Dedicated Centers.
Further enhancing its manufacturing prowess, Syngene received US FDA approval for its API facility in Mangalore. The approval demonstrates the company’s unwavering commitment to the highest quality standards. Such industry recognitions open up wider opportunities for Syngene, reinforcing its market standing and its small molecule commercial manufacturing strategy.
The story of Syngene’s commitment to growth doesn’t end here. The company also acquired additional land in Hyderabad to augment the operations of its Research Services division. This investment underscores the company’s intent to keep expanding and improving its services.