Livemint: September 07, 2016
Hyderabad: Syngene International Ltd, the contract research services arm of Biocon Ltd, is setting up a drug discovery and development center in Bengaluru for Amgen Inc., a biotechnology company based in the US.
Named Syngene Amgen Research and Development Center (SARC), will be Syngene’s fourth such exclusive research and development (R&D) center. It already operates dedicated R&D centers for international companies such as Bristol-Myers Squibb, Abbott Nutrition and Baxter Inc.
“The state-of-the-art dedicated center will be staffed by a team of more than 100 highly qualified Syngene scientists, working in close association with Amgen researchers around the world on the discovery and development of innovative medicines,” Syngene said in a statement.
“In addition to being customized to meet Amgen’s functional requirements, the facility complies with the highest regulatory standards. Its design includes a range of environmentally-friendly features and flexible layouts, and is configured to minimize solvent and effluent waste with a strong emphasis on laboratory safety and green chemistry,” the statement added.
Syngene has partnered with Amgen in a variety of discovery and development projects. With the establishment of SARC, this association now extends into a multi-discipline collaboration spanning capabilities in medicinal and process chemistry, biologics, bioprocess, drug metabolism, pharmacokinetics, bioanalytical research, and pharmaceutical development.
California-based Amgen is one of the world’s largest biotech companies. It had revenue of around $21.7 billion in 2015 and spends about 18% of it on R&D.
Syngene has managed to boost its client base to 256 from 221 a year earlier. Its top three clients—Bristol, Abbott and Baxter—account for around 40% of its revenue.
Syngene has committed to spend around $200 million on capital expenditure over the next three years as part of a broader plan to evolve from a contract research firm into a contract research and manufacturing services company with commercial-scale production capabilities.
Shares of Syngene dropped 0.18% to close at Rs.472.35 on BSE, while the benchmark Sensex gained 1.56% to end 28,978.02 points.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.