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Syngene Q3 FY18 Revenue up 15% to Rs. 399 Cr

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During the Quarter, extends collaboration with BMS until 2026; Signs strategic collaboration with Zoetis

Syngene has announced its Q3 FY18 result, the has recorded 15 per cent to Rs 399 crore in the revenue. Commenting on the results, Jonathan Hunt, CEO- Syngene International Limited says, “We are happy to report an increase in revenue growth of 15 per cent to Rs. 399 crore, primarily driven by our Chemical Development and Discovery Services businesses. The quarter also saw two significant events with the expansion and extension of our strategic collaboration with BMS and the coming on stream of our state-of-the-art biologics manufacturing facility. Overall, we are making good progress on our strategic priorities.”

The Chemical Development business continued to drive growth reflecting good underlying performance. The discovery services business also saw good traction especially in discovery biology. During the quarter, Syngene entered into a multi-year development and manufacturing relationship with Zoetis, a world leader in animal health.

The Company also expanded and extended its ongoing collaboration with Bristol-Myers Squibb till 2026 that will see the addition of a new facility to support its future research and development operations.

Syngene’s biologics manufacturing capabilities gained a significant boost with the commissioning of its state-of-the-art Biologics Manufacturing Plant. The facility has three single use bioreactors with a capacity of 2000 Ltr each. It also has two upstream suites that will enable parallel operations and one downstream train with post-viral segregation. The plant can undertake manufacturing of clinical as well as commercial supplies.

It also started construction activities at its upcoming API manufacturing facility in Mangalore, Karnataka. The facility is on track to be operational in 2019.

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