Syngene Acquires US Biologics Facility for $36.5M

• Syngene International has acquired its first biologics facility in the US from Emergent Manufacturing Operations Baltimore for $36.5 million.
• The acquisition will increase Syngene’s single-use bioreactor capacity to 50,000 liters, enhancing its large molecule discovery, development, and manufacturing services.
• Emergent will retain rights to secure manufacturing services and capacity at the facility in collaboration with Syngene.
• The facility faced quality issues during the pandemic but has since been cleared by the U.S. FDA and is compliant with all required guidelines.
• Syngene's CFO mentioned potential short-term dilution of operating margins due to costs associated with the new facility.

Source: Moneycontrol, The Economic Times