SYNGENE

Feb 18 (Reuters) - Syngene International Ltd SYNN.NS:

• SYNGENE INTERNATIONAL LTD - PARTIAL RELIEF GRANTED TO COMPANY IN TAX APPEALS

• SYNGENE INTERNATIONAL LTD - COMPANY EXPECTS NO MATERIAL IMPACT ON FINANCIALS

Source text: ID:nNSEbp2h0n

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** Shares of Syngene International SYNN.NS fall as much as 8.1% to 506 rupees, lowest level since March 2021

** On Friday, co slashed FY26 revenue estimate from above 5% to 3-5%

**Jefferies downgrades stock to "underperform"; PT to 480 rupees from 660 rupees

** Says contract research firm missed revenue, EBITDA estimates; co's guidance was lowered due to destocking challenges; likely to impact FY27 too

** Adds, SYNN lacks a meaningful project pipeline, leading to growth stagnation

** More than 3 mln shares traded so far vs 30 day avg of 717,248 shares

** Stock fell 24.2% in 2025

(Reporting by Mridula Kumar in Bengaluru)

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** Shares of Syngene International SYNN.NS fall as much as 5.6% to a near three-year low of 559.10 rupees, last down 2.3%
** The contract research firm's Q3 net profit dips ~89% year-on-year to 150 million rupees ($1.6 million); revenue slips 2.8% y/y

** Macquarie says revenue shortfall was primarily driven by lower sales of a key biologics product, reflecting normalisation of quarterly revenue

** Brokerage expects SYNN's earnings growth to continue in FY26, with operational efficiencies and capacity addition at its plants as well as new client additions supporting earnings growth through the year
** Avg rating of 8 analysts is "buy" and median PT is 725 rupees - data compiled by LSEG

** SYNN fell 24.1% in 2025

($1 = 91.6100 Indian rupees)

(Reporting by Brijesh Patel in Bengaluru)

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Jan 22 (Reuters) - Syngene International Ltd SYNN.NS:

• SYNGENE INTERNATIONAL LTD DEC-QUARTER CONSOL PROFIT 150 MILLION RUPEES

• SYNGENE INTERNATIONAL LTD DEC-QUARTER CONSOL REVENUE FROM OPERATIONS 9.17 BILLION RUPEES

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July 23 (Reuters) - Syngene International Ltd SYNN.NS:

• JUNE-QUARTER CONSOL PROFIT 867 MILLION RUPEES

• JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 8.75 BILLION RUPEES

Source text: ID:nBSE14h1sJ

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** Shares of Syngene International SYNN.NS down 12.3% to 656.7 rupees
** The contract research firm's Q4 consol profit fell 2.8% y/y to 1.83 bln rupees ($21.4 mln) on higher tax expenses
** Co's CFO Deepank Jain says co expects EBITDA margin to moderate from current levels to the mid-twenties and year-on-year decline in profit after tax for FY26
** Stock set for sharpest ever intraday pct fall
** More than 13.9 mln shares traded, 21.3x its 30-day moving avg
** Shares changed hands most since its first session of trading on Aug 11, 2015
** Avg rating of 10 analysts is "buy" and median PT is 835 rupees, ~27% higher than current price - data compiled by LSEG
** SYNN extends YTD losses to ~23.5%

($1 = 85.4740 Indian rupees)

(Reporting by Anuran Sadhu in Bengaluru)

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April 23 (Reuters) - Syngene International Ltd SYNN.NS:

• MARCH-QUARTER CONSOL PROFIT 1.83 BILLION RUPEES

• MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 10.18 BILLION RUPEES

• DIVIDEND OF 1.25 RUPEES PER SHARE

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March 28 (Reuters) - Syngene International Ltd SYNN.NS:

• NATIONAL FACELESS ASSESSMENT CENTRE DROPS PENALTY PROCEEDINGS FOR 33.6 MILLION RUPEES

Source text: ID:nNSE4r4lLF

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March 26 (Reuters) - Syngene International Ltd SYNN.NS:

• SYNGENE INTERNATIONAL - GETS TAX DEMAND ORDER FOR 2.4 MILLION RUPEES

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Corrects deal value in headline, paragraph 1 to $36.5 million, from $50 million

March 10 (Reuters) - India's Syngene International on Monday said it has acquired its first biologics facility in the United States from Emergent Manufacturing Operations Baltimore, a unit of Emergent BioSolutions EBS.N, for $36.5 million.

The contract research firm's acquisition of the facility aligns with broader industry efforts to reduce dependence on China by expanding capabilities in other regions.

The facility, which the contract research firm said is strategically located near key biotech hubs in the Northeast U.S., is expected to be operational for client projects from the second half of 2025.

This acquisition, expected to close in March 2025, will boost Syngene's total single-use bioreactor capacity to 50,000 liters from 20,000 liters, enhancing its capabilities in large molecule discovery, development and manufacturing services.

"In the short term, we expect minor dilution of operating margins as a result of costs to be incurred in this facility," Deepak Jain, Syngene International's chief financial officer, said.

India's contract research development and manufacturing organisation sector has the potential to grow seven-fold to $22 billion-$25 billion by 2035, according to a report by Boston Consulting Group.

(Reporting by Yagnoseni Das in Bengaluru; Editing by Vijay Kishore)

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March 7 (Reuters) - Syngene International Ltd SYNN.NS:

• PENALTY PROCEEDINGS FOR 32.6 MILLION RUPEES DROPPED

Source text: ID:nBSE27YvXm

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Corrects paragraph 14 to say India has "committed" not "invested" $2.86 billion

By Rishika Sadam, Kashish Tandon and Bhanvi Satija

HYDERABAD Feb 27 (Reuters) - India's contract drug makers have urged the government to remove regulatory hurdles and grant faster clearance to vital raw material imports at a time when many global pharmaceutical firms are counting on the nation to reduce their reliance on China.

India's Contract Research Development and Manufacturing Organisation (CRDMO) sector is at an inflection point, with the potential to grow seven-fold to $22 billion-$25 billion by 2035, according to a report by Boston Consulting Group.

Globally, the market stands at $140 billion-$145 billion.

"The government has to understand that this industry has potential, if not scale, right now," Krishna Kanumuri, CEO and managing director at Sai Life Sciences SAIE.NS, said at an event earlier this week.

India's contract drug manufacturers have gained from global companies' efforts to diversify their supply chain after the pandemic and a U.S. bill that would prohibit federal contracts with certain Chinese biotech firms on national security grounds.

However, India's policies are yet to play catch-up.

For instance, prolonged approval times and regulatory demands tied to certain raw material imports meant Indian firms often require eight to 15 days to initiate projects, while their Chinese peers could do it within three days, according to Vikash Aggarwala, MD and Partner at BCG's healthcare practice.

Industry insiders pushed for more business-friendly policies in the world's fifth-largest economy, which is heavily dependent on China for drug-related raw materials.

Piramal Pharma's PIRM.NS Chairperson Nandini Piramal lamented the lack of customs warehouses at the right locations and related logistics costs, a dearth of cold storage units, and delays tied to the clearance of certain raw material imports.

"All of those, I think, add more friction to the ease of doing business," Piramal told Reuters.

Some others highlighted the delay in approvals due to the lack of a centralized, digital, single-window clearance system.

Syngene's SYNN.NS CEO-designate Peter Bains said the "friction and delay" could be compressed, highlighting it was "a disadvantage that India has against other jurisdictions".

India's health and finance ministries did not respond to Reuters requests seeking comment.

The country, which offers cheap labour and a large talent pool, has already committed over $2.86 billion in the local biotech industry, according to the BCG report. But industry insiders are urging for more.

"I would really pitch for a CRDMO park... with policies where you don't have to go and get permissions from the local drug controller for making changes, where there are easy export and import capabilities," Aragen Life Sciences CEO Manni Kantipudi said.

($1 = 87.3900 Indian rupees)

(Reporting by Rishika Sadam, Kashish Tandon and Bhanvi Satija; Editing by Dhanya Skariachan and Janane Venkatraman)

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Feb 26 (Reuters) - Syngene International Ltd SYNN.NS:

• SYNGENE INTERNATIONAL - TAX DEMAND ORDER REDUCED TO 102 MILLION RUPEES

Source text: ID:nNSEbX1r3H

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Feb 10 (Reuters) - Syngene International Ltd SYNN.NS:

• JONATHAN HUNT STEPS DOWN AS MD & CEO OF SYNGENE

• PETER BAINS APPOINTED CEO DESIGNATE OF SYNGENE

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BENGALURU, Jan 23 (Reuters) - Diary of India economic, corporate events on Jan. 23

ECONOMIC, CORPORATE .BSE500 EVENTS:

NTS - 'No time scheduled', AMC - 'After market close'

(Compiled by Bengaluru Newsroom)

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Jan 14 (Reuters) - Syngene International Ltd SYNN.NS:

• AGGREGATE TAX AMOUNT UNDER GOVERNMENT SCHEME TO BE PAID IS 94.7 MILLION RUPEES

• PAID 15.3 MILLION RUPEES TAX UNDER PROTEST, BALANCE TO BE PAID WITHIN 15 DAYS

Source text: ID:nBSE4gwqJ2

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Adds details paragraph 2 onwards

Dec 31 (Reuters) - Indian contract drugmaker Anthem Biosciences filed for a 33.95-billion-rupee ($397 million) initial public offering, draft papers showed on Tuesday, at the fag end of what has been a red-hot year for companies listing on the stock market.

Anthem, whose services include early-stage drug discovery and drug efficacy testing, said private equity firm True North and drugmaker DavosPharma are among investors who will sell shares in the IPO.

The company will not sell any shares and it did not give any other details on the offering.

The Indian IPO market has been bustling this year, with over 300 companies having raised $17.5 billion as of mid-December, more than double the amount raised last year, LSEG data showed.

That gives it the top spot globally in terms of proceeds and volumes, according to consultancy firm KPMG.

Anthem, which began operations in 2007 and has two manufacturing facilities, is also going public at a time when global drugmakers are turning to India and other markets to limit their reliance on Chinese contractors.

Begaluru-based Anthem also makes active pharmaceutical ingredients (API), which are the main component of a drug, as well as dietary supplements and probiotics.

It competes with the likes of Syngene International SYNN.NS, Divi's Laboratories DIVI.NS and newly-listed Sai Life Sciences SAIE.NS among Indian API makers.

($1 = 85.5720 Indian rupees)

(Reporting by Kashish Tandon in Bengaluru; Editing by Savio D'Souza)

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** Shares of contract research firm Syngene International SYNN.NS rise as much as 3.5% to 898 rupees

** Biopharma firm Biocon BION.NS is likely to sell 2% stake in Syngene International via block deals, CNBC-TV18 reports citing sources

** Shares of Biocon are nearly flat

** SYNN has been above its 200-day SMA since July

** About 2 mln SYNN shares traded, 2.3x its 30-day moving avg

** Avg rating of eight analysts covering the stock is "hold" and median PT is 820.5 rupees, ~6.5% lower than current price - LSEG data

** SYNN last up 1.2%, extending YTD gains to ~25%

(Reporting by Anuran Sadhu in Bengaluru)

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Dec 5 (Reuters) - Syngene International Ltd SYNN.NS:

• GOT ORDER MODIFYING TAX DEMAND TO 25.9 MILLION RUPEES

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Oct 23 (Reuters) - Syngene International Ltd SYNN.NS:

• RESIGNATION OF CFO SIBAJI BISWAS

• RESIGNATION OF SIBAJI BISWAS, EXECUTIVE DIRECTOR AND CFO

• APPOINTMENT OF DEEPAK JAIN AS CHIEF FINANCIAL OFFICER

• SEPT-QUARTER CONSOL PROFIT 1.06 BILLION RUPEES

• SEPT-QUARTER CONSOL REVENUE FROM OPERATIONS 8.91 BILLION RUPEES

Source text for Eikon: ID:nNSE26tD5y

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Oct 1 (Reuters) - Syngene International Ltd SYNN.NS:

• GOT TAX REFUND ORDER FOR 136 MILLION RUPEES

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July 24 (Reuters) - Syngene International Ltd SYNN.NS:

• SYNGENE INTERNATIONAL LTD JUNE-QUARTER CONSOL PROFIT 757 MILLION RUPEES

• SYNGENE INTERNATIONAL LTD JUNE-QUARTER CONSOL REVENUE FROM OPERATIONS 7.9 BILLION RUPEES

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April 24 (Reuters) - Syngene International Ltd SYNN.NS:

• RE-APPOINTMENT OF JONATHAN HUNT AS MD AND CEO

• FINAL DIVIDEND OF 1.25 RUPEES PER SHARE

• SYNGENE INTERNATIONAL MARCH-QUARTER CONSOL PROFIT 1.89 BILLION RUPEES VERSUS PROFIT 1.79 BILLION RUPEES

• SYNGENE INTERNATIONAL MARCH-QUARTER CONSOL REVENUE FROM OPERATIONS 9.17 BILLION RUPEES VERSUS 9.94 BILLION RUPEES

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** Shares of contract research firm Syngene International SYNN.NS up 2.1% and pharmaceuticals firm Neuland Laboratories NEUL.NS up 4.8%

** Goldman Sachs initiates stocks with a 'buy' rating, sets street-high PTs of 875 rupees for SYNN and 9,100 rupees for NEUL; highlights improving funding for biotech, capacity ramp-up and new contract wins

** Brokerage believes India's share in global contract research/drug manufacturing will rise as companies reduce dependence on China; lists SYNN, NEUL as its top picks in sector

** "Any progress" on U.S. bill that prohibits federal agencies from contracting with China biotech companies/service providers, "could bring in disproportionate benefits" to NEUL - Goldman

** Meanwhile, shares of Laurus Labs LAUL.NS down 1.7% after brokerage initiates stock with "sell"

** NEUL up 23.5% so far this year, vastly outperforming LAUL's 5% rise and SYNN's 8.9% growth

(Reporting by Nandan Mandayam in Bengaluru)

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March 26 (Reuters) - Syngene International Ltd SYNN.NS:

• GOT 3 ORDERS SEEKING TAX AND INTEREST TOTALLING 120.9 MILLION RUPEES

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By Rishika Sadam and Leroy Leo

HYDERABAD, Feb 27 (Reuters) - Bristol Myers Squibb BMY.N aims to expand its research and development presence in India and expects its newly inaugurated Hyderabad facility to become its largest unit outside the U.S. by 2025, CEO Christopher Boerner said on Tuesday.

The $100-million facility, inaugurated by Boerner on Monday, is expected to employ over 1,500 employees and will be used to enhance its drug development through the use of digital technologies and artificial intelligence, he said in his keynote speech at the BioAsia conference.

Bristol Myers also operates a research and development centre in Bengaluru in partnership with the Biocon Group's Syngene International.

The cancer-focused U.S. drugmaker is currently developing next-generation cell therapies for autoimmune diseases such as multiple sclerosis and plans to use AI technologies to accelerate the development, Boerner said.

The company plans to make these more widely available, including in markets such as India, he added.

Bristol Myers is yet to launch its cancer cell therapies Abecma and Breyanzi in the country, but its other cancer drugs such as nivolumab and ipilimumab are sold under the brand names Opdyta and Yervoi.

A spokesperson for the company did not immediately respond to Reuters request for comment on availability of Abecma and Breyanzi in India.

The company expects its top-selling drugs such as blood thinner Eliquis and cancer immunotherapy Opdivo to lose patent protection in key markets later this decade and announced a string of deals late last year to restock its drug development pipeline.

(Reporting by Leroy Leo and Rishika Sadam in Hyderabad; Editing by Janane Venkatraman)

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** Shares of Biopharmaceutical co Biocon BION.NS down ~2.5% at 284 rupees

** Jefferies downgrades stock to "underperform" from "hold", keeps PT unchanged at 250 rupees

** Jefferies says downgrades will continue due to lack of launches in the biosimilars segment, weak FY25 outlook for unit Syngene SYNN.NS

** Given muted revenue growth and margin pressure, we believe free cash flow will remain weak for Biocon - Jefferies

** Last month, UBS downgraded SYNN to "sell" due to concerns on near-term revenue growth

** Avg rating of 17 analysts covering BION is "hold," their median PT is 272.50 rupees

** Biocon stock has been underperforming in the pharma index; since start of 2023 BION up ~8.5% vs a ~50% gain in Nifty Pharma Index .NIPHARM

(Reporting by Nishit Navin in Bengaluru)

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** Shares of contract research firm Syngene International SYNN.NS fall ~2% to 701.75 rupees

** Stock fell 2.3% on Tuesday after UBS downgraded rating to "sell" from "buy" and cut PT to 700 rupees from 875 rupees

** UBS' new PT lowest among seven analysts on SYNN, per LSEG

** Stock shed 4.4% in last two sessions

** Weak demand for the discovery and dedicated segments to put pressure on Syngene's near-term revenue growth - UBS

** Adds, concerns are rising with slow ramp-up of SYNN's API unit

** Avg rating of analysts at "hold"; median PT is 750 rupees - LSEG data

** Stock rose 20% in 2023, snapping two consecutive years of decline

(Reporting by Kashish Tandon in Bengaluru)

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Jan 10 (Reuters) - Syngene International Ltd SYNN.NS:

• ASSESSING OFFICER ISSUED PENALTY NOTICE TOWARDS DISALLOWANCE AMOUNTING TO 1.3 MILLION RUPEES

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Dec 1 (Reuters) - Syngene International Ltd SYNN.NS:

• CONCLUDES ACQUISITION OF BIOLOGICS MANUFACTURING FACILITY FROM STELIS BIOPHARMA

• ACQUISITION OF UNIT 3 BIOLOGICS MANUFACTURING FACILITY CONCLUDED AT REVISED GROSS VALUE OF 6.17 BILLION RUPEES

• REDUCTION IN GROSS VALUE REFLECTS RETENTION OF EQUIPMENT NOT CURRENTLY INSTALLED IN FACILITY BY STELIS BIOPHARMA

• ACQUISITION WILL ADD 20,000 LITRES OF INSTALLED BIOLOGICS DRUG SUBSTANCE MANUFACTURING CAPACITY FOR SYNGENE

Source text for Eikon: ID:nBSE8x5lB6

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