Syngene International signs a 5 year strategic contract with Deerfields 3DC

Syngene International, announced on Thursday post market session that it has signed a 5 year agreement to collaborate to advance therapeutic discovery projects. Reacting to the news, the stock opened a per cent higher on BSE.

This strategic collaboration brings together Syngene’s integrated drug discovery (IDD) services and skills of Deerfield’s drug discovery and development arm 3DC. It forms an important part of the company’s execution strategy. This collaboration could offer critical new therapeutic options with pace and efficiency. The collaboration is said to start with immediate effect and is expected to run for an initial cycle of 5 years.

Syngene International Ltd. is an integrated contract research, development and manufacturing business providing scientific services right from early discovery to commercial supply. On the revenue front, it earns 94 per cent from its contract research and manufacturing services income and the remaining 6 per from its other services.

At around 12:47 pm, on Friday, the share is trading up by 0.29 per cent at Rs 569.05 on BSE. In comparison, S&P BSE SENSEX is trading down by 0.10 per cent. The share recorded an intraday high of Rs 575.15 and an intraday low of Rs 561.65.