15 September 2016 | Features | By BioSpectrum Bureau
BioSpectrum Ranking Survey: Rank 4: Syngene International
CEO: Jonathan Hunt
Revenue: Rs 1,113 crore
The global healthcare CRO market is expected reach $45 billion by 2022, according to report by Grand View Resarech. The global CRO market expected to grow at a CAGR of more than 6 percent over the next seven years. According to a report, increasing R&D spend, M&A, outsourcing, patent expirations & government organizations are assigning projects to CROs.
In 2015, Bengaluru-based CRO Syngene International's starry IPO debut took the whole industry by storm.
It offers a suite of integrated, end-to-end discovery, development and manufacturing services for novel molecular entities across industrial sectors including pharmaceutical, biotechnology, agrochemicals, consumer health, animal health, cosmetic and nutrition companies.
Over the years, Syngene has made strategic investments in capacity expansion and enhancing its capabilities to meet the growing requirements of its clients.
In FY 2015-16, Syngene invested in expanding its R&D laboratory space; added new services in stability, analytical and bio-analytical services as well as viral testing; and invested in new platforms including Small Interfering RiboNucleic Acid (SiRNA) and Antibody-Drug Conjugates (ADCs).
The company intends to invest $200 million through 2019 across the following:
1. Setting up a multi-product, multi-client commercial scale contract manufacturing facility at Mangaluru.
2. Setting up Syngene Research Center spread across a total area of 2,00,000 square feet. The center will support integrated discovery programs in chemistry and biology.
3. Investing in state-of-the-art formulation centre for various dosage types.
4. Investing in new biologicals manufacturing facility.
Over the last five years, the company has amply diversified and more than doubled its client base -- from 115 in FY12 to 256 in FY16.