Syngene International Limited announced its first quarter results. Reported revenue from operations declined 2% year-on-year to Rs. 790 crores. Reported profit after tax declined 19% year-on-year to Rs 76 crores.
Syngene International, the global contract research, development and manufacturing organization (CRDMO) has unveiled its new protein production platform. This accelerates enhanced protein production, enabling quicker preclinical and clinical development as well as product launches, thereby reducing time to market.
SAN DIEGO, June 4, 2024 /PRNewswire/ -- Syngene International Ltd. (NSE: SYNGENE), a leading global contract research, development and manufacturing organization (CRDMO), announces the launch of its new protein production platform. The platform, using a cell line and transposon-based technology in-licensed from Swiss biotech services company, ExcellGene, coupled with Syngene's clone selection and development processes, promises significant improvement in efficiency and precision.
Syngene International Limited has reported Consolidated financial results for the period ended March 31, 2024.
Brokerage Goldman Sachs has initiated buy ratings on Syngene International Ltd and Neuland Laboratories Ltd and increased target price to Rs 875 (up 20 percent) and Rs 9100 (up 46 percent), respectively, from current market price. The brokerage house also initiated sell rating on Laurus Labs Ltd with a target price of Rs 350 a share, down 23 percent.
Syngene facility to be operational for US, European customers from mid-year
Syngene biologics manufacturing facility to be operational for US from mid-year
Syngene International Limited announced its third quarter financial results. Reported revenue from operations for the quarter was up 9% year-on-year to Rs. 854 crores. Profit after tax for the quarter increased 4% year-on-year to Rs 115 crores (before exceptional items).
Stelis Biopharma, an associate company of Strides, has provided the following update about the transaction with Syngene to transfer Stelis' Unit 3 multi-modal facility in Bengaluru.
Syngene concludes acquisition of biologics manufacturing facility from Stelis