Corrects deal value in headline, paragraph 1 to $36.5 million, from $50 million
March 10 (Reuters) - India's Syngene International on Monday said it has acquired its first biologics facility in the United States from Emergent Manufacturing Operations Baltimore, a unit of Emergent BioSolutions EBS.N, for $36.5 million.
The contract research firm's acquisition of the facility aligns with broader industry efforts to reduce dependence on China by expanding capabilities in other regions.
The facility, which the contract research firm said is strategically located near key biotech hubs in the Northeast U.S., is expected to be operational for client projects from the second half of 2025.
This acquisition, expected to close in March 2025, will boost Syngene's total single-use bioreactor capacity to 50,000 liters from 20,000 liters, enhancing its capabilities in large molecule discovery, development and manufacturing services.
"In the short term, we expect minor dilution of operating margins as a result of costs to be incurred in this facility," Deepak Jain, Syngene International's chief financial officer, said.
India's contract research development and manufacturing organisation sector has the potential to grow seven-fold to $22 billion-$25 billion by 2035, according to a report by Boston Consulting Group.
(Reporting by Yagnoseni Das in Bengaluru; Editing by Vijay Kishore)
((Yagnoseni.Das@thomsonreuters.com;))
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