Syngene commits $200 mn capex to its facilities

Syngene commits $200 mn capex to its facilities

Syngene commits $200 mn capex to its facilities

Syngene International, a leading custom research and manufacturing organisation, on Friday said it has lined up $200 million capex to boost its manufacturing facilities.

While one half of the amount will be invested in its Mangalore facility, the other half has been earmarked for its facility in Bengaluru. The company also announced about its two new facilities that are operational – the first phase of the Syngene Research Centre (SRC) and a Viral Testing Facility, which was commissioned in Bengaluru recently.

“Viral Testing is a highly specialised niche service that strengthens our biologics business,” said Jonathan Hunt, CEO of Syngene International.

The facility will provide niche services to support the viral testing requirements of the pharma and biotech sectors.  The Viral Testing Facility and SRC are part of Syngene’s ongoing $200 million capex programme, and of which approximately 30% has been spent till date, the company said.

The first phase of SRC is spread across 50,000 sq feet area. When fully commissioned, the SRC will have a total area of two lakh sq feet that will support integrated discovery and development programmes, the company added.

On Thursday, the company reported an increase of 28.32% in standalone net profit to Rs 59.8 crore for the quarter ended on June 30, 2016. The company’s first quarter revenue grew at 23% compared with last year, while EBIDTA and PAT grew by 30% and 28%, respectively.

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