Syngene Makes Strong Debut On Indian Bourses
This article was originally published in Scrip
Syngene International has made a strong debut on Indian bourses listing at INR295 ($4.6) and closing higher, even as the overall market declined in the country. Syngene is the research services arm of Biocon.
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Biocon has received European regulatory clearance for its new Malaysian insulin plant and also said it is open to private-equity investment proposals for its fast-growing biologics division ahead of a planned IPO.
A recent round table on pharma industry trends has highlighted the hunger of cash-rich Indian firms for acquiring companies with niche portfolios in regulated markets including the US. Innovator companies shedding their generic units also present significant opportunities for Indian firms. Both trends are expected to build amid apparent Indian interest in the Teva-Allergan divestiture in Europe.
Biocon management signals the potential of its partnered entry with Serum Institute and Adagio Therapeutics into the communicable diseases segment. Continuing large supply opportunities for COVID-19 vaccines and prospects for boosters, alongside the promising profile of the neutralizing antibody being developed by its US-based partner, also bode well.