Syngene registers Rs 319 crore as revenue in Q2

Syngene International, Biocon’s contract research arm has registered a 22 per cent increase in revenue

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Bengaluru: Syngene International, Biocon’s contract research arm has registered a 22 per cent revenue increase to Rs.319 crore for Q2. This is from Rs.262 crore reported in the corresponding quarter last fiscal. Much of the growth was largely driven by its drug discovery and R&D services. Profit after tax (PAT) during the period also showed a remarkable increase from Rs.48 crore last year to Rs.75 crore, registering a 55 per cent increase.

Commenting on the results, Jonathan Hunt, chief executive officer, Syngene International, said that Q2 FY17 has been a good quarter with our top and bottom lines recording strong growth. We also signed a strategic collaboration with Amgen Inc for setting up a dedicated R&D center that will have our scientists working closely with Amgen’s global scientific teams on small and large molecule research.

This is a validation of Syngene’s scientific capabilities and expertise. We also acquired the bioinformatics assets of Strand Life Sciences along with a team of expert data scientists which strengthens our data analytics capabilities and opens new avenues for providing value added services to our clients, he added.

The company’s business is categorized into three verticals – Dedicated R&D Centers, Discovery Services and Development & Manufacturing Services. Its flexible ‘plug-and-play’ business model allows it to offer a range of services ranging from a single component service to a cluster of service to a fully integrated discovery-development service depending on the requirement of the client.

The company which acquired the bioinformatics services of Strand Life Sciences along with a team of data scientists is expected to now increase its focus on data analytics. The buyout of Strand has given it access to New Generation Sequencing analytics platforms and the advanced Heptox Virtual Liver platform and the Sarchitect (Cheminformatics) platforms. It also strengthens the efforts to offer new services such as translational R&D, predictive toxicology and pre-emptive target validation in future.