India, March 11 -- Syngene International has announced an additional investment of up to $56 million in its wholly owned subsidiary, Syngene USA Inc. (SUSA), to support the acquisition of a biologics facility from Emergent Manufacturing Operations Baltimore, LLC and meet general corporate and operational expenses. The investment will be completed in one or more tranches by March 31, 2026, or as mutually agreed. Despite the investment, there will be no change in Syngene's shareholding, and SUSA will continue to remain a wholly owned subsidiary.
Established in Delaware, USA, in August 2017, SUSA serves as Syngene's strategic arm to expand its presence in the US market. The subsidiary reported a turnover of $7.33 million for FY 2023-24. As th...