Syngene rises on signing 10-year biologics manufacturing agreement with Zoetis

15 Jul 2022 , 09:25 AM

Zoetis Inc. is an American drug company, the worlds largest producer of medicine and vaccinations for pets and livestock. Librela (bedinvetmab) is a monoclonal antibody used for treating osteoarthritis in dogs. Launched in Europe, the UK and Switzerland, the product won Best new companion animal product by IHS Markit Connect in 2021 for its transformational impact on pain relief for canines suffering from this debilitating condition. Syngenes collaboration with Zoetis started in 2011. Over the past 11 years, Syngene has undertaken development work on several monoclonal antibodies for use in animal health, including developing and manufacturing clinical supplies of a treatment for allergic or atopic dermatitis, now widely used, and Librela. The agreement, initially centred on Librela, paves the way for development and manufacturing of other molecules in the coming years and is expected to be worth up to US$ 500 million to Syngene over 10 years, subject to regulatory approvals and market demand. Jonathan Hunt, managing director and chief executive officer, Syngene International, said, We are delighted to be expanding our partnership with Zoetis. This multi-year agreement marks an inflection point for our development and manufacturing services division and we look forward to completing the regulatory inspections that will be required. This 10-year agreement will position Syngene as a leading contract development and manufacturing organisation (CDMO) in animal health globally. Syngene International is an integrated research, development and manufacturing services company serving the global pharmaceutical, biotechnology, nutrition, animal health, consumer goods and specialty chemical sectors. The companys consolidated net profit fell 7.97% to Rs 147.80 crore on a 15.10% rise in revenue from operations to Rs 758.10 crore in Q4 FY22 over Q4 FY21. Syngenes board is scheduled to meet on Wednesday, 20 July 2022, to consider and approve the unaudited standalone and consolidated financial results for the quarter ended on 30 June 2022. Powered by Capital Market – Live News