Biocon’s Syngene set up $100-million plant at Mangaluru

Biocon’s Syngene to set up $100-million plant at Mangaluru

11:34 AM, 11th December 2015
Biocon’s Syngene to set up $100-million plant at Mangaluru

MANGALURU, INDIA: Biocon’s custom research and manufacturing services arm, Syngene International said that it will set up a $100-million plant at the special economic zone(SEZ) in Mangaluru, to manufacture pharma ingredients and agrochemicals.

“The construction of the new plant would commence by early next fiscal. Syngene was listed on the Bombay Stock Exchange as well as the National Stock Exchange this year,” said Manoj Nerurkar, chief operating officer, Syngene.

The plant will be spread across 40 acres. “We have finalized arrangements for the land and are awaiting statutory clearances for project initiation,” said Nerurkar. Syngene had revenue from operations of Rs 860 crore in 2014-15.

“The plant would be constructed in a phased manner over the next 3-4 years. There will be a built-in provision for scaling up capacity in line with our increasing business visibility as well as client requirements,” he added.

The Mangaluru facility will be exclusively for large-scale contract manufacturing of novel small molecules for Syngene clients from the pharma, agrochemicals and other allied industries. These molecules will serve as inputs for the finished products, he said. The plant will employ about 500 people.

Syngene offers end-to end discovery and development services. “We currently have over 150 clients globally. Some of Syngene's strategic collaborations are with Bristol-Myers Squibb and Endo Pharmaceuticals in pharma and Abbott Nutrition in nutrition,” Nerurkar said.

© Times of India News



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