Syngene International

Bengaluru-based Biocon had in September 2022 sold a 5.4% stake in the open market, as per an exchange filing

Syngene International on Wednesday reported a 53 per cent rise in consolidated net profit at Rs 102 crore in the second quarter ended September 2022 on the back of higher revenue. The company, which is an integrated research, development and manufacturing services firm, had posted a consolidated net profit of Rs 66.7 crore in the same period last fiscal, it said in a regulatory filing. Consolidated revenue from operations during the period under review stood at Rs 768.1 crore as against Rs 610.2 crore in the year-ago quarter, it added. "The quarter saw positive performances across all divisions. Our research divisions -- discovery services, including Synvent, our integrated drug discovery platform, and the dedicated centres showed sustained growth. Discovery chemistry in particular saw buoyant customer demand," Syngene International Ltd Managing Director and CEO Jonathan Hunt said. Growth in development services was led by existing clients renewing contracts and setting up ...

Drugmaker Biocon on Tuesday divested a 5.4 per cent stake in its research arm Syngene International for a little over Rs 1,220 crore through an open market transaction. According to bulk deal data available with the BSE, Biocon, the promoter of Syngene International, sold a total of 21,789,164 shares, amounting to a 5.4 per cent stake, in the company. The shares were sold at an average price of Rs 560.04 apiece, a discount of more than three per cent to Monday's closing price of Rs 578.75 on the BSE. At this price, the transaction size has been pegged at Rs 1,220.28 crore, the data showed. The scrip of Syngene International has settled 2.38 per cent lower at Rs 565 apiece on the BSE. ICICI Prudential Mutual Fund was among the entities that lapped up the company's shares. As of June year, of the promoters' holding of 70.29 per cent, Biocon held a 69.99 per cent stake in Syngene, the shareholding pattern with the exchange showed. In separate block deals, Raja Ganesan Chandramogan,

At 09:15 am; around 22.68 million equity shares representing 5.65 per cent of the total equity of Syngene changed hands on the BSE, the exchange data shows.

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Contract manufacturing services firm Syngene International on Wednesday reported a 4 per cent decline in profit after tax to Rs 74 crore for the first quarter ended June 2022. The company had posted a PAT of Rs 77 crore in the April-June quarter of last fiscal. Its revenue from operations rose to Rs 644 crore in the first quarter against Rs 595 crore in the year-ago period, the company said in a statement. The first quarter results were against a strong quarter last year due to sales of Remdesivir, it added. Excluding the impact of Remdesivir, the underlying revenue from operations growth in the quarter stood at around 30 per cent year-on-year, it stated. "The first quarter results were in line with our expectations and reflect strong underlying performance across all our business divisions. The contribution from the development and manufacturing services divisions drove the growth momentum against a low base in the previous year," Syngene International MD and CEO Jonathan Hunt ..

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In a Q&A, Jonathan Hunt, MD & CEO of the Biocon arm, dwells on his firm's initiatives to overcome supply chain bottlenecks and other issues

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Librela or bedinvetmab has already been launched in Europe and the UK, and has won 'Best new companion animal product' by IHS Markit Connect in 2021

Guljit Sethi of Bioinnovat was named in CBI FIR on a bribery case involving CDSCO official and Biocon Biologics executive

The company had reported a PAT of Rs 138 crore in the January-March period of 2020-21

Concor has been trading with a corrective bias for the last two months, after making a new record high at Rs 748 levels in June 2021

The stock of Syngene International is also sustaining above its important moving averages

Sharp re-rating has turned the stock into the most expensive in the pharma space

Patient footfalls are gaining traction in healthcare units as demand from non-Covid-19 patients is gathering pace, according to a November 25 report by CARE Ratings.

The consortium, led by Bristol Myers Squibb, will focus on a wide range of aspects from research to clinical diagnostic applications, the company said in a statement

While Covid-19 could is a near term opportunity, contract manufacturing is the key medium-term trigger

The stock rallied 6.5 per cent to Rs 596.85, surpassing its previous high Rs 594.75, touched on September 15, 2020, on the BSE.

The product will be launched once it receives approval from the Central Drugs Standard Control Organisation next