SYNGENE INTERNATIONAL Q2FY24 Earnings Call Highlights
Commissioned a non GMP facility which added the capability to do early phase
development projects in an agile and cost-effective manner.
Commissioned the state-of-the-art digitally enabled quality control lab that will support growing biologics operations.
Experienced some softening in demand in the US based biotech segment as it adjusts to a new funding environment.
The Zoetis contract has now reached the run rate of around 50 million US
dollar per annum as previously guided.
Small molecule development services delivered steady growth driven by repeat orders from clients and strong growth in clinical formulation business.
In the small molecules business, several ongoing projects are scheduled to complete in the fourth quarter so expect lower growth in the third quarter and a strong fourth quarter.
Running a very focused program on working capital improvement and that
is on receivables, inventory, payables so all are improving.
About 15% of revenue would come from at a total firm level from US biotech segment.
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