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Extension of collaboration with Amgen

News: SARC, founded in 2016, is Amgen’s only R&D facility in India and additional dedicated laboratory bodes well for Syngene’s future growth avenues. Dedicated centres contributed 32% to the topline of Syngene in FY21 and Amgen’s contract extension on back of multiple year extension of BMS, Baxter contracts proves Syngene’s structural story and client stickiness. We remain positive on Syngene’s ability to capitalise on opportunities on CRO/CRAMS space

View: SARC, founded in 2016, is Amgen’s only R&D facility in India and additional dedicated laboratory bodes well for Syngene’s future growth avenues. Dedicated centres contributed 32% to the topline of Syngene in FY21 and Amgen’s contract extension on back of multiple year extension of BMS, Baxter contracts proves Syngene’s structural story and client stickiness. We remain positive on Syngene’s ability to capitalise on opportunities on CRO/CRAMS space.

Impact: Positive