Express Pharma

Syngene posts FY17 results : Registers a revenue of Rs 1272 crores

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Syngene has recently posted its FY17 results. The company has posted a revenue of Rs 1272 crores and the EBITDA was up by 24 per cent to Rs 478 crores.

Commenting on the results, Jonathan Hunt, CEO, Syngene International, said, “As expected our Q4 performance was dampened by the impact of the facility fire in December 2016. Q4 revenues dropped six per cent over the prior year, from Rs 334 crore to Rs 315 crore. On a full year basis, we saw revenue growth of 14 per cent across our businesses, supported by higher interest income. Profitability was up strongly, with EBIDTA and PAT for the full year registering healthy growth of 24 per cent and 19 per cent. We made good progress through the year on our strategic priorities; including continued strong growth within our discovery biology group, the successful integration of our bioinformatics acquisition as well as the expansion of our strategic collaboration with Amgen. Additionally in Q4, we signed a strategic agreement with a Canadian biotech firm, which has the potential to boost our biologics business in coming years. The quarter also saw Phase I of our new formulation facility beginning operations. The successful conclusion of a US FDA inspection of our clinical development facility further strengthens our track record in quality and regulatory compliance. With Syngene’s expanding capabilities and capacities, we look forward to accelerating our growth in the coming year.”

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