Syngene Secures Strong Q1 Performance as Strategic Investments Augment Capabilities

Syngene's Q1 Performance Chart 2023

Syngene International Limited, a global Contract Research and Manufacturing titan, reported a robust financial performance in Q1, with revenues and profit after tax both climbing by 26% year-on-year, hitting Rs. 832 crores and Rs.93 crores, respectively.

This fiscal strength has been matched by strategic expansions. One of the key developments is the acquisition of a biologics manufacturing facility from Stelis Biopharma Ltd. This move, effectively expanding Syngene’s biologics production capacity, reflects the firm’s ambition to dominate the biologics contract development and manufacturing landscape.

Syngene’s operations also received a boost with the FDA approval of its Mangalore-based API manufacturing facility. This approval not only reaffirms the company’s commitment to quality standards but also marks a significant leap in its small molecule commercial manufacturing strategy.

Beyond manufacturing, Syngene has shown a commitment to propelling its Research Services division. The acquisition of additional land in Hyderabad stands as a testament to the firm’s plans for expansion and improvement in research capabilities.


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