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Will The $86m Stelis-Syngene Deal Change India’s Biologics Landscape?

Acquired Plant Seen Operational In 2024

 
• By Vibha Ravi

Biocon subsidiary Syngene and Strides associate Stelis have entered a deal with the potential to change India’s vaccines and biologics landscape, as the former's growth plans are catapulted. Meanwhile, the Strides group gets to cut debt by selling a unit that made the ill-fated Sputnik Light COVID-19 vaccine and after Akston Biosciences terminated another COVID-19 vaccine alliance

Indian Vaccine Deal
A Handshake To Change India's Biologics Landscape? • Source: Shutterstock

In a deal that is likely to alter the biologics landscape in India by catapulting the growth ambitions of Biocon, Ltd. subsidiary Syngene International Ltd. , Syngene and Strides Pharma Science Limited associate company Stelis Biopharma Ltd have entered into a binding term sheet for a slump sale.

On completion of the INR7.02bn ($85.5m) transaction, contract manufacturing services firm Syngene will add 20,000 liters of installed biologics drug substance making capacity via competitor Stelis’ multi-modal production Unit 3 at Bommasandra Industrial Area in Bengaluru

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