Business Standard

Syngene: Investors with long term view should look at the stock on dips

While Covid-19 could is a near term opportunity, contract manufacturing is the key medium-term trigger

Syngene
Premium

Syngene's test kit has got regulatory approval. | Photo: Website of Syngene

Ram Prasad Sahu New Delhi
Syngene International, which has gained 20 per cent over the past two weeks, hit its all-time high of Rs 596.85 a share on Thursday. 

Approval by the Indian Council of Medical Research for its anti-body testing kit was the key trigger. The company has tied up with biosciences company HiMedia Laboratories for manufacture of the test kit. 

Syngene’s voluntary licensing agreement with Gilead to manufacture and supply the broad spectrum anti-viral remdesivir spells another opportunity.

Shrikant Akolkar of Ashika Institutional Research says that given rising infections and the absence of a vaccine, remdesivir could gain major market share. Further, given Gilead’s forecast of

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Sep 24 2020 | 7:44 PM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on business-standard.com are available only to BS Premium subscribers.

Register to read more on Business-Standard.com