Syngene International to set $100-million manufacturing plant
Biocon's custom research and manufacturing services arm, Syngene International, has announced its plan to launch a manufacturing unit at an investment of $100-million. The plant will be set up to manufacture pharma ingredients and agrochemicals in a Special Economic Zone.
To be spread across 40 acres of land, the plant is estimated to employ 500 people. Syngene is a big revenue venture of Biocon, with reported revenue from operations of Rs 860 crore in 2014-15. With over 150 clients globally, Syngene's strategic collaborations list includes names like Bristol-Myers Squibb and Endo Pharmaceuticals in pharma, and Abbott Nutrition in nutrition.
As implied by a company spokesperson this facility will only be for contract manufacturing. Novel small molecules for Syngene clients from the pharma, agrochemicals and other allied industries will be produced at large scale. These mole cules will serve as inputs for the finished products, as confirmed further.
Syngene chief operating officer Manoj Nerurkar told TOI that construction of the new plant would commence by early next fiscal. Syngene was listed on the Bombay Stock Exchange as well as the National Stock Exchange this year.
Nerurkar said the plant would be constructed in a phased manner over the next 3-4 years. "There will be a built-in provision for scaling up capacity in line with our increasing business visibility as well as client requirements,'' he added.
To be spread across 40 acres of land, the plant is estimated to employ 500 people. Syngene is a big revenue venture of Biocon, with reported revenue from operations of Rs 860 crore in 2014-15. With over 150 clients globally, Syngene's strategic collaborations list includes names like Bristol-Myers Squibb and Endo Pharmaceuticals in pharma, and Abbott Nutrition in nutrition.
As implied by a company spokesperson this facility will only be for contract manufacturing. Novel small molecules for Syngene clients from the pharma, agrochemicals and other allied industries will be produced at large scale. These mole cules will serve as inputs for the finished products, as confirmed further.
Syngene chief operating officer Manoj Nerurkar told TOI that construction of the new plant would commence by early next fiscal. Syngene was listed on the Bombay Stock Exchange as well as the National Stock Exchange this year.
Nerurkar said the plant would be constructed in a phased manner over the next 3-4 years. "There will be a built-in provision for scaling up capacity in line with our increasing business visibility as well as client requirements,'' he added.
Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.