Syngene International sees strong momentum this fiscal year: MD

Syngene International expects strong business momentum in this financial year, said its MD Jonathan Hunt. In an interview to ET, he said biotech and pharma companies in the US and Europe are set to outsource more discovery, development and manufacturing work to companies like Syngene with relative cost advantage, as they battle high inflation, interest costs and funding slowdown.

Syngene International also expects business growth from its pharma clients who are keen to make up for the time that they felt they lost during the Covid-19 pandemic.

Hunt said that while financial pressures are making companies, especially emerging biopharma firms, cautious on spending, they are going forward with their promising programmes. He expects healthy demand for research and manufacturing services.