Syngene International gains after arm acquires first biologics site in USA
Syngene International is currently trading at Rs 680.00, up by 2.00 points or 0.29% from its previous closing of Rs 678.00 on the BSE.
The scrip opened at Rs 678.00 and has touched a high and low of Rs 685.00 and Rs 674.35 respectively. So far 7789 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52-week high of Rs 960.00 on 02-Dec-2024 and a 52-week low of Rs 608.00 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs 691.00 and Rs 654.10 respectively. The current market cap of the company is Rs 27342.32 crore.
The promoters holding in the company stood at 52.74%, while Institutions and Non-Institutions held 40.17% and 7.09% respectively.
Syngene International’s wholly-owned subsidiary -- Syngene USA Inc. has acquired 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. 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.
Syngene International is engaged in providing contract research and manufacturing services from lead generation to clinical supplies to pharmaceutical and biotechnology companies worldwide.
