Syngene International Limited, a leading contract research, development, and manufacturing organization (CRDMO), has announced a significant investment to bolster its global operations. The company plans to invest up to $56 million in its wholly-owned subsidiary, Syngene USA Inc (SUSA), to facilitate the acquisition of a biologics manufacturing facility and support its operational needs.
Details of the Investment
-
Purpose: The investment will finance the acquisition of a biologics facility from Emergent Manufacturing Operations Baltimore, LLC, a subsidiary of Emergent BioSolutions Inc., and cover general corporate and operational expenses.
-
Facility Acquisition: The Baltimore-based facility, Syngene’s first manufacturing site in the United States, was acquired for $36.5 million. The total investment, including acquisition and operational setup, is estimated at around $50 million.
About Syngene USA Inc
-
Incorporation: Established in August 2017 in Delaware, USA, SUSA serves as Syngene International’s strategic arm to expand its presence in the US market.
-
Financial Performance: SUSA’s turnover has shown consistent growth over the past three financial years:
-
FY 2021-22: $3,752,450
-
FY 2022-23: $5,517,593
-
FY 2023-24: $7,332,492
-
Strategic Implications
This investment aligns with Syngene International’s strategy to enhance its global footprint and meet the growing demand for biologics manufacturing. The acquisition of the US facility expands Syngene’s global single-use bioreactor capacity to 50,000 liters, enabling the company to cater to both human and animal health markets.
Syngene International’s planned investment in Syngene USA Inc underscores the company’s commitment to expanding its manufacturing capabilities and strengthening its position in the global biologics market. By establishing a manufacturing presence in the United States, Syngene aims to offer flexible solutions to its global pharmaceutical and biotech clients, reinforcing its role as a leading CRDMO.
For more detailed information, you can refer to the official announcement.
