Latest News | Syngene Acquires First Manufacturing Site in US
Get latest articles and stories on Latest News at LatestLY. Syngene International on Monday said it has acquired its first manufacturing facility in the US for around USD 50 million.
New Delhi, Mar 10 (PTI) Syngene International on Monday said it has acquired its first manufacturing facility in the US for around USD 50 million.
Syngene USA Inc, a wholly-owned subsidiary of the company, has acquired the site from Emergent Manufacturing Operations Baltimore, LLC.
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The acquisition will help the company to better serve its customers across both human and animal health market segments, Syngene International said in a statement.
Overall investment in the US facility is estimated at around USD 50 million, including the cost of acquisition (USD 36.5 million) and expenses to make the facility operational, it added.
The acquisition is expected to close in March 2025, subject to the satisfaction of customary closing conditions, it said.
Syngene International shares on Monday ended 0.22 per cent down at Rs 678 apiece on BSE.
(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)