Syngene International rose 1.06% to Rs 613 after the company announced the extension of its long-standing multi-discipline research collaboration with Amgen Inc, a US-based biotechnology firm till 2026.
The contract is currently extended until the end of 2026 and its scope includes integrated drug discovery and development solutions in discovery chemistry and biology, peptide chemistry, antibody and protein reagents, pharmacokinetics and drug metabolism and pharmaceutical development. In addition to operating the existing Syngene Amgen R&D Center (SARC), under the new contract, Syngene International will also build and operate a dedicated laboratory which will enable R&D project acceleration.
SARC was established in 2016 and Syngene International announced the expansion of the original centre in 2017. It currently consists of 60,000 sq. ft of floor space and a dedicated team of multi-disciplinary scientists who work with Amgen researchers around the world on the discovery and development of innovative medicines.
Syngene International's consolidated net profit dropped 20.7% to Rs 66.70 crore on a 17.4% surge in net sales to Rs 610.20 crore in Q2 FY22 over Q2 FY21.
Syngene International is an integrated research, development and manufacturing services company serving the global pharmaceutical, biotechnology, nutrition, animal health, consumer goods and specialty chemical sectors.
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