{"id":104866,"date":"2023-07-05T10:33:14","date_gmt":"2023-07-05T05:03:14","guid":{"rendered":"https:\/\/tradebrains.in\/features\/?p=104866"},"modified":"2023-07-05T10:33:16","modified_gmt":"2023-07-05T05:03:16","slug":"syngene-to-acquire-plant-from-stelis-biopharma-for-rs-702-cr","status":"publish","type":"post","link":"https:\/\/tradebrains.in\/features\/syngene-to-acquire-plant-from-stelis-biopharma-for-rs-702-cr\/","title":{"rendered":"Syngene to acquire plant from Stelis Biopharma for Rs 702 cr"},"content":{"rendered":"<div class=\"trade-content_2\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-422669154\"><p><a href=\"https:\/\/tradebrains.in\/get\/telegram\/\"><img decoding=\"async\" class=\"alignnone wp-image-101992\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/telegram-channel-300x119.png\" alt=\"\" width=\"148\" height=\"59\" \/><\/a> <a href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMN3Epgswxc--Aw?hl=en-IN&amp;gl=IN&amp;ceid=IN%3Aen\"><img decoding=\"async\" class=\"alignnone wp-image-123430\" src=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png\" alt=\"follow-on-google-news\" width=\"222\" height=\"61\" srcset=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-300x82.png 300w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news-150x41.png 150w, https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2024\/05\/follow-on-google-news.png 468w\" sizes=\"(max-width: 222px) 100vw, 222px\" \/><\/a><\/p>\n<\/div><p>Contract manufacturing services firm Syngene International has inked a pact to buy a manufacturing unit from Stelis Biopharma for Rs 702 crore.<\/p><div class=\"trade-content_7\" style=\"margin-left: auto;margin-right: auto;text-align: center;\" id=\"trade-2820231820\"><!-- Composite Start --> \r\n <div id=\"M923760ScriptRootC1549812\"> \r\n <\/div> \r\n <script src=\"https:\/\/jsc.mgid.com\/t\/r\/tradebrains.in.1549812.js\" async> \r\n <\/script> \r\n <!-- Composite End --><\/div><p>The company has entered into a binding term sheet with Stelis to acquire its Bengaluru-based Unit 3 biologics manufacturing unit, Syngene said in a late night statement on Tuesday.<\/p><p>The facility, which was initially built to manufacture Covid-19 vaccines, is now being repurposed to manufacture monoclonal antibodies.<\/p><p>Syngene said it plans to further invest up to Rs 100 crore to repurpose and revalidate the facility. On&nbsp;completion of the transaction, the site will add 20,000 litres of installed biologics drug substance manufacturing capacity for Syngene, the company said.<\/p><div class=\"trade-content_5\" id=\"trade-1127172482\"><script async src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-4023722985638610\"\r\n     crossorigin=\"anonymous\"><\/script>\r\n<!-- in_content_2_news -->\r\n<ins class=\"adsbygoogle\"\r\n     style=\"display:block\"\r\n     data-ad-client=\"ca-pub-4023722985638610\"\r\n     data-ad-slot=\"7925020301\"\r\n     data-ad-format=\"auto\"\r\n     data-full-width-responsive=\"true\"><\/ins>\r\n<script>\r\n     (adsbygoogle = window.adsbygoogle || []).push({});\r\n<\/script><\/div><p>The site has the potential for future expansion up to a further 20,000 litres of biologics drug substance manufacturing capacity, it added.<\/p><p>Syngene said it will acquire Unit 3 on a slump sale basis for a gross value of Rs 702 crore. Subject to closing adjustments, the consideration for the transaction will be settled in cash, the company said.<\/p><p>The transaction, which has been approved independently by the boards of both companies, is expected to close within 90 days, subject to customary conditions, including receiving the required lender and regulatory approvals, it added.<\/p><p>\u201cThis acquisition strengthens our growing position as a leading biologics contract development and manufacturing service provider and adds drug substance capacity and a drug product capability years earlier than our internal capex programme,&#8221; Syngene Managing Director and CEO&nbsp;Jonathan Hunt noted.<\/p><p>The company expects the facility to be operational in 2024, following completion of a programme of facility upgrades and re-validation, he added.<\/p><div class=\"trade-after-content\" id=\"trade-4129313705\"><div id=\"taboola-below-article-thumbnails\"><\/div>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({\r\n    mode: 'alternating-thumbnails-a',\r\n    container: 'taboola-below-article-thumbnails',\r\n    placement: 'Below Article Thumbnails',\r\n    target_type: 'mix'\r\n  });\r\n<\/script>\r\n<script type=\"text\/javascript\">\r\n  window._taboola = window._taboola || [];\r\n  _taboola.push({flush: true});\r\n<\/script><\/div>","protected":false},"excerpt":{"rendered":"<p>Contract manufacturing services firm Syngene International has inked a pact to buy a manufacturing unit from Stelis Biopharma for Rs 702 crore. The company has entered into a binding term sheet with Stelis to acquire its Bengaluru-based Unit 3 biologics manufacturing unit, Syngene said in a late night statement on Tuesday. The facility, which was [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":81083,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[1696,31],"tags":[],"class_list":["post-104866","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-action","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v20.5 (Yoast SEO v25.0) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Syngene to acquire plant from Stelis Biopharma for Rs 702 cr - Trade Brains Features<\/title>\n<meta name=\"description\" content=\"Contract manufacturing services firm Syngene International has inked a pact to buy a manufacturing unit from Stelis Biopharma for Rs 702 crore.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/tradebrains.in\/features\/syngene-to-acquire-plant-from-stelis-biopharma-for-rs-702-cr\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Syngene to acquire plant from Stelis Biopharma for Rs 702 cr\" \/>\n<meta property=\"og:description\" content=\"Contract manufacturing services firm Syngene International has inked a pact to buy a manufacturing unit from Stelis Biopharma for Rs 702 crore.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/tradebrains.in\/features\/syngene-to-acquire-plant-from-stelis-biopharma-for-rs-702-cr\/\" \/>\n<meta property=\"og:site_name\" content=\"Trade Brains Features\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/TradeBrainsOfficial\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-05T05:03:14+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-05T05:03:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/money-cover-image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"854\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"PTI News\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/tradebrains.in\/features\/wp-content\/uploads\/2023\/01\/money-cover-image.jpg\" \/>\n<meta name=\"twitter:creator\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:site\" content=\"@TradeBrainsGrp\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"PTI News\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/tradebrains.in\/features\/syngene-to-acquire-plant-from-stelis-biopharma-for-rs-702-cr\/\",\"url\":\"https:\/\/tradebrains.in\/features\/syngene-to-acquire-plant-from-stelis-biopharma-for-rs-702-cr\/\",\"name\":\"Syngene to acquire plant from Stelis Biopharma for Rs 702 cr - 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