Syngene Share: completes US biologics site acquisition, shares trade flat

Syngene International had informed the exchanges late last night that Syngene USA has completed the acquisition of its first biologics site in the USA from Emergent Manufacturing Operations Baltimore, LLC, a subsidiary of Emergent BioSolutions Inc., for $36.5 million.

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The new site will increase Syngene’s total single-use bioreactor capacity to 50,000L for large molecule discovery, development, and manufacturing services.

The company reported a profit after tax (PAT) of ₹131 crore for the third quarter, compared to ₹112 crore in Q3FY24. The revenue from operations grew by 11 per cent y-o-y to ₹944 crore and increased sequentially by 6 per cent from the last year’s quarter.

Shares of Syngene ended flat on the NSE at ₹704.55.