Syngene's capex on track; focus on R&D and biologics to fuel future expansion: Jonathan Hunt
«We were successful during the course of converting a number of those into permanent contracts and that will give us a foundation for growth as we go into the future,» says Jonathan Hunt, Syngene International.
It was a good quarter coming in when you talk about the third quarter. But I also wanted to talk about your discovery services division particularly. So, the initial China plus one pilot project with large and mid-sized pharma companies as well starting to convert into longer-term contracts. So, tell us a little more about this particular division then.
Jonathan Hunt: I should start with the results. Overall, we saw a return to growth. As you know, during the course of the year, we saw a little bit of softness in the first half. First quarter, second quarter revenue were both minus 2%. But we predicted that the second half of the year things would start to pick up and we hoped that we would get back to growth and that is exactly what we saw, so plus 11% for the quarter. Nicely balanced across the business.
We are a research services business, we are also a development manufacturing company as well. And all three of those saw positive progress during the course. And then in the research services division, one of the trends for the year is seeing clients start to move some of their work around the world, some are moving it out of the US and Europe, some are moving it out of China and they are piloting here in India with companies like us, testing our capabilities, really seeing what we can do for them.
And we
