Syngene International signs 10-year deal with US company Zoetis

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Syngene International signs 10-year deal with US company Zoetis

Librela or bedinvetmab, has already been launched in Europe and the UK, and won ‘Best new companion animal product’ by IHS Markit Connect in 2021 for its transformational impact on pain relief for canines.

“By advancing the next stage of Librela with Syngene, we continue to build a strong global supply network for Zoetis products and fulfill our purpose to nurture the world and humankind by advancing care for animal,” said Nick Ashton, executive vice president and president, global manufacturing and supply, Zoetis Inc.

On the other hand, Syngene does drug discovery work from early stage research, pre-clinical development, active pharmaceutical ingredient development, and also offers manufacturing services to its clients, which span industries such as pharmaceutical, biotech, nutrition, animal health, consumer goods and speciality chemical sectors.

A leading animal health company, $7.8 billion Zoetis has a pipeline of vaccines, diagnostics, medicines.

Story Highlights

  • “This 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 $ 500 million to Syngene over 10 years, subject to regulatory approvals and market demand,” the company said on Thursday.

  • Managing director and chief executive officer, Syngene International, Jonathan Hunt 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.”

Around 74 per cent of Syngene’s clients are in the US.

“The global market for contract research was valued at $48.55 billion in 2020 and is expected to reach $83.34 billion growing at a CAGR of 9.4 per cent. Within this, the outsourcing market for drug discovery and early development services is expected to grow at a CAGR of 6.4 per cent over 2020-2026 to reach a value of $44 billion by the end of this period,” the company noted in its FY22 annual report.

Hunt, in the company’s annual report, stated that Syngene expecting strong demand for both biologics development and biologics manufacturing capacity. “Recent investments in expanding both our mammalian and microbial facilities will put us into a strong position to capture some of that demand,” he added.