Syngene International Ltd

Syngene International will hold a meeting of the Board of Directors of the Company on 23 April 2025.Powered by Capital Market - Live

Peter Bains, with over 30 years of global experience in biopharmaceuticals, was appointed group CEO of Biocon in September 2023. Holding a bachelor's degree in science from the University of Sheffield, Bains previously served as CEO of Syngene International, where he led its public listing in 2015. He has also held leadership roles at Sosei Group and GlaxoSmithKline. Bains rejoined Biocon as an independent director in December 2022 before being appointed CEO. Syngene International is an integrated research, development, and manufacturing services company serving the global pharmaceutical, biotechnology, nutrition, animal health, consumer goods, and specialty chemical sectors. The company reported a 17.58% increase in consolidated net profit to Rs 131.1 crore in Q3 FY25 as compared with Rs 111.5 crore in Q3 FY24. Revenue from operations jumped 10.57% YoY to Rs 943.7 crore in Q3 FY25. Shares of Syngene International rose 0.95% to Rs 725 on the BSE.Powered by Capital Market - Live

The state-of-the-art facility, located in Baltimore, Maryland, was acquired by Syngene USA Inc., a wholly owned subsidiary of Syngene, from Emergent Manufacturing Operations Baltimore, LLC, a subsidiary of Emergent BioSolutions Inc. The newly acquired site is equipped with multiple monoclonal antibody (mAb) manufacturing lines and will increase Syngene's single-use bioreactor capacity to 50,000L, enhancing its ability to support large molecule discovery, development, and manufacturing services. The facility will play a crucial role in Syngene's global operations, providing continuity of supply alongside the company's existing facilities in India and North America. With the acquisition, Syngene strengthens its ability to serve both human and animal health market segments, offering a range of services, including cell line development, process optimization, and clinical and commercial supply. This expansion highlights Syngene's strategic commitment to the U.S. market and aims to foster deeper economic ties between India and the United States, benefiting both countries' life sciences sectors. The total investment in the U.S. facility is estimated at $50 million, including the acquisition cost of $36.5 million and expenses related to making the site operational. The acquisition is expected to close in March 2025, pending customary closing conditions. The upgraded Baltimore facility, strategically located near key biotech hubs in the Northeast, is anticipated to be operational for client projects by the second half of 2025. The firm anticipates the site will see demand from innovative U.S. mAb developers requiring direct access for onshore production, as well as international innovators who want a U.S.-based manufacturing option. This complements the capabilities and capacity available across its facilities in Bengaluru. As part of the agreement, Emergent BioSolutions itself has the right to secure manufacturing capacity from the facility in the future, representing offtake potential from U.S.-based innovators. It will also support the growing animal health segment, in which a U.S. site is often a key client requirement. The company said that investment in its first facility in the United States marks a strategic commitment to the U.S. market, with significant benefits for the local economy and the broader life sciences industry. The facility is expected to create jobs, stimulate local economic activity, and strengthen domestic biologic manufacturing capabilities while also contributing to pharmaceutical innovation and supply chain resilience. This investment highlights the potential for deeper economic collaboration between India and the United States, fostering sustained economic growth and advancing the shared goal of bolstering critical healthcare infrastructure. Peter Bains, CEO Designate, Syngene International, said, 'With one of the largest biologics R&D teams and commercial scale manufacturing capabilities in both India and the USA, we now offer a compelling and flexible solution for global pharma and biotech customers. This investment will enable Syngene to cater to growing client requirements in an expanding market. It will also provide clients access to the collective service capability of multiple geographic sites, scientists and experience.' Alex Del Priore, Senior Vice President ' Development & Manufacturing Services, Syngene International, said, 'This facility is a significant milestone for Syngene and comes in response to growing client demand in the United States, the fastest-growing biologics market. It strengthens our offering for animal health clients looking for USDA approval for their products. Most importantly, it increases the options we can offer our global customers, providing commercial-scale biologic manufacturing capabilities across our global network and will be underpinned by existing key client projects.' Deepak Jain, CFO, Syngene International, said, 'The investment will be synergistic with expected additional process development work that will be executed in India while manufacturing can be done in the US. The investment will be fully funded through internal accruals and cash. The company will continue to maintain a robust balance sheet, a low debt profile, and a comfortable safety margin for debt covenants post this investment. As we ramp up utilization, we expect asset turnover to grow to 1x in less than 5 years, with EBIT margins expected to be in line with the company average from FY30 and positively contribute to the bottom line. The acquisition will not materially impact the current financial guidance given for fiscal year 2024'2025. In the short term, we expect a minor dilution of operating margins as a result of costs to be incurred in this facility.' Syngene International is an integrated research, development, and manufacturing services company serving the global pharmaceutical, biotechnology, nutrition, animal health, consumer goods, and specialty chemical sectors. The company reported 17.58% increase in consolidated net profit to Rs 131.1 crore in Q3 FY25 as compared with Rs 111.5 crore in Q3 FY24. Revenue from operations jumped 10.57% YoY to Rs 943.7 crore in Q3 FY25. The counter rose 0.29% to Rs 680 on the BSE. Powered by Capital Market - Live

Syngene International (Syngene) today announced the acquisition of its first biologics site in the USA - fitted with multiple monoclonal antibody (mAbs) manufacturing lines. The state-of-the-art biologics facility, acquired by Syngene USA Inc., a wholly owned subsidiary of Syngene, from Emergent Manufacturing Operations Baltimore, LLC (a subsidiary of Emergent BioSolutions Inc.), will expand Syngene's growing global biologics footprint to better serve its customers across both human and animal health market segments. The new site will increase Syngene's total single-use bioreactor capacity to 50,000L for large molecule discovery, development, and manufacturing services. Additionally, it will provide Syngene's customers with continuity of supply from its four development and manufacturing facilities located in India and North America, offering services ranging from cell line development, process optimization and both clinical and commercial supply. Syngene's investment in its first facility in the United States marks a strategic commitment to the US market, with significant benefits for the local economy and the broader life sciences industry. The facility is expected to create jobs, stimulate local economic activity, and strengthen domestic biologics manufacturing capabilities, while also contributing to pharmaceutical innovation and supply chain resilience. This investment highlights the potential for deeper economic collaboration between India and the United States, fostering sustained economic growth and advancing the shared goal of bolstering critical healthcare infrastructure.  Powered by Capital Market - Live

In a regulatory filing, the company informed that the USFDA conducted a pre-approval and cGMP inspection of commercial manufacturing activities for the US market at the Bengaluru facilities from 10 February 2025 to 20 February 2025. On conclusion of the inspection, the USFDA issued Form 483 with 5 (Five) observations. The company will work closely with USFDA and remains committed to addressing these observations comprehensively within the stipulated time, Syngene International said in a statement. Syngene International is an integrated research, development, and manufacturing services company serving the global pharmaceutical, biotechnology, nutrition, animal health, consumer goods, and specialty chemical sectors. The company reported 17.58% increase in consolidated net profit to Rs 131.1 crore in Q3 FY25 as compared with Rs 111.5 crore in Q3 FY24. Revenue from operations jumped 10.57% YoY to Rs 943.7 core in Q3 FY25.Powered by Capital Market - Live

Syngene International today announced that Jonathan Hunt has stepped down from his role as MD&CEO as well as from the Board of Directors to pursue other opportunities in due course. Consequent to this, the Board has appointed Peter Bains as the CEO Designate of Syngene. Both changes are effective immediately, i.e., 10 February 2025. Peter Bains has over three decades of experience in the biotech and pharmaceutical industry. Peter also served as CEO of Syngene from June 2010 to March 2016 and was instrumental in creating a strong foundation for the business and taking it public in 2015. Peter's deep domain experience, knowledge, and familiarity with the business, together with his leadership acumen makes him eminently qualified to step into this role. Powered by Capital Market - Live

The company reported 17.58% increase in consolidated net profit to Rs 131.1 crore in Q3 FY25 as compared with Rs 111.5 crore in Q3 FY24. Revenue from operations jumped 10.57% YoY to Rs 943.7 core in Q3 FY25. Profit before tax (PBT) increased 27.41% to Rs 180.8 crore in Q3 FY25 compared with Rs 141.9 crore in Q3 FY24. EBITDA stood at Rs 302 crore, up 16% compared with Rs 261 crore posted in corresponding quarter last year. EBITDA margin stood at 31.4% in during the quarter against 29.5% in Q3 FY24. The company said that third quarter performance was marked by growth in the research services as well as CDMO business with increased traction in biologics. Development and Manufacturing Services delivered steady performance driven by biologics with repeat orders from existing customers and new collaborations on integrated projects that cover the scope from drug development to clinical stage manufacturing. Growth observed this quarter indicates stabilizing market dynamics, particularly within the US biotech sector. However, the expected second-half recovery in demand has been delayed by approximately 8 to 12 weeks. Despite this delay, Syngene has returned to growth and anticipates continued momentum through Q4. Consequently, the company projects single-digit revenue growth and flat PAT for the full year, with EBITDA guidance unchanged. Jonathan Hunt, managing director and chief executive officer, Syngene International, said, Syngene's third quarter performance saw a return to growth across all business divisions that sets us up well for the next quarter. Our Discovery Services division saw the initial 'China+1' pilot projects, with large and midsize pharma companies, starting to convert into longer term contracts. Now, our focus is on further business development and building the sales pipeline. The quarter also saw positive momentum in our CDMO division led by biologics. Growth in the quarter suggests that market dynamics, particularly in US biotech, are stabilising, albeit later than expected.' Syngene International is an integrated research, development, and manufacturing services company serving the global pharmaceutical, biotechnology, nutrition, animal health, consumer goods, and specialty chemical sectors.Powered by Capital Market - Live

Net profit of Syngene International rose 17.58% to Rs 131.10 crore in the quarter ended December 2024 as against Rs 111.50 crore during the previous quarter ended December 2023. Sales rose 10.57% to Rs 943.70 crore in the quarter ended December 2024 as against Rs 853.50 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales943.70853.50 11 OPM %30.0527.12 - PBDT289.50250.00 16 PBT180.80141.90 27 NP131.10111.50 18 Powered by Capital Market - Live

Syngene International will hold a meeting of the Board of Directors of the Company on 23 January 2025.Powered by Capital Market - Live

Varroc Engineering Ltd, Piramal Enterprises Ltd, Anupam Rasayan India Ltd, Metropolis Healthcare Ltd are among the other stocks to see a surge in volumes on BSE today, 10 December 2024.Syngene International Ltd witnessed volume of 83.86 lakh shares by 10:46 IST on BSE, a 342.87 times surge over two-week average daily volume of 24459 shares. The stock increased 2.59% to Rs.889.95. Volumes stood at 31868 shares in the last session.Varroc Engineering Ltd clocked volume of 1.68 lakh shares by 10:46 IST on BSE, a 30.6 times surge over two-week average daily volume of 5499 shares. The stock gained 12.75% to Rs.603.30. Volumes stood at 21782 shares in the last session.Piramal Enterprises Ltd witnessed volume of 4.06 lakh shares by 10:46 IST on BSE, a 8.36 times surge over two-week average daily volume of 48484 shares. The stock increased 1.37% to Rs.1,257.85. Volumes stood at 24693 shares in the last session.Anupam Rasayan India Ltd registered volume of 12542 shares by 10:46 IST on BSE, a 6.03 fold spurt over two-week average daily volume of 2081 shares. The stock rose 2.92% to Rs.757.60. Volumes stood at 1591 shares in the last session.Metropolis Healthcare Ltd recorded volume of 17214 shares by 10:46 IST on BSE, a 4.71 times surge over two-week average daily volume of 3652 shares. The stock gained 0.73% to Rs.2,202.95. Volumes stood at 13329 shares in the last session.Powered by Capital Market - Live