5. Syngene International

Syngene’s revenues cross $100 million threshold for the first time. In FY 2012-13, the company’s deal with GE Capital has unlocked the true valuation of the company.


Director: Peter Bains

Rank 5

Milestone year

Established in 1994 as a subsidiary of Biocon, Syngene is an internationally recognized custom research and manufacturing organization, which supports R&D programs from lead generation to clinical supplies. Among India's leading contract research organizations, Syngene offers integrated drug discovery and development services with capabilities in medicinal chemistry, biology, in vivo pharmacology, toxicology, custom synthesis, process research and development, and formulation development for small and large molecules. During FY 2012-13, the company recorded robust turnover of `557 crore in revenue as compared to `410 crore in FY 2011-12.
During the last fiscal, the company signed an agreement with GE Equity International Mauritius, a subsidiary of GE Capital Corporation, which will make a primary equity investment in it. As per the terms of the agreement, GE Capital would invest `125 crore for a 7.69 percent equity share in Syngene. The company believes that it is an endorsement to the quality of innovation and the role played by its scientific team in accelerating innovation and productivity of its global customers. Also, the deal has established the standard valuation of the company which it felt was low earlier and hindered its plans for listing in capital markets. However, the company has ruled out the listing of the company any sooner.
In another development, Syngene in a strategic partnership with Abbott, one of India's largest healthcare companies, launched the first of its kind, The Abbott Nutrition Research and Development Center. The state-of-the-art center will focus on the development of science-based, affordable nutrition products for the country and enable the expansion of Abbott's nutrition product portfolio at Biocon Park in Bangalore. The combined market insights and nutrition science expertise of two organizations will enable them to address the healthcare and nutritional challenges of an emerging economy like India across a diverse range of diseases that straddle both infectious and chronic maladies.

Company: Syngene International
Business: Drug discovery and development services
Revenue: 2013 `557 crore


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