Syngene International has reported a significant decline in its CO exports, marking a challenging period for the company's export operations. The latest data reveals substantial drops in export volumes across different time periods.

Export Performance Analysis

The company's CO export figures show a dramatic deterioration in performance metrics:

Market Impact

The substantial decline in CO exports represents a significant development for Syngene International, particularly given the magnitude of the decreases. The 77.00% month-over-month drop indicates acute short-term challenges, while the 53.00% year-over-year decline suggests broader issues affecting the company's export capabilities.

Business Implications

These export performance figures reflect the current operational challenges facing the company in its international markets. The dual impact of both monthly and annual declines highlights the severity of the situation affecting Syngene International's CO export segment during this period.

The sharp drop in CO exports underscores the challenging export conditions the company is currently navigating. As Syngene International grapples with these significant declines, it may need to reassess its export strategies and market positioning to address the factors contributing to this downturn in performance.

Syngene International conducted an investor webinar on December 17, 2025, focusing on its Translation and Clinical Research business and the growing clinical trials market opportunity. The webinar provided detailed insights into the company's Translation and Clinical Research (T&CR) business segment and the broader clinical trials market landscape. It was prompted by investor queries following Syngene International's announcement in Q2 FY26 of securing its first global Phase III clinical trial from a U.S.-based biotech company.

Clinical Trials Market Overview

The global Contract Research and Development Manufacturing Organization (CRDMO) market presents significant growth opportunities, with clinical trials forming a substantial segment. The presentation outlined key market dynamics and growth drivers shaping the industry.

The clinical trials market is experiencing robust growth driven by several factors including increasing R&D pipeline growth at 7.00% CAGR, accelerating outsourcing by big pharma companies, patient diversity recruitment pressures, and the rise of virtual biotech companies with limited infrastructure.

Leadership and Expertise

The webinar was led by Dr. Mrinal Kammili, Head of Translational Clinical Research, who joined Syngene International in January 2025 as part of the Executive Committee. Dr. Kammili brings over 27 years of clinical research experience and previously served as Executive Director, Board Member, and Global Head of Business Development at Lambda Therapeutics.

Market Positioning and Growth Drivers

The Asia-Pacific region is leading growth in the clinical trials market, with India emerging as a key destination. The Indian clinical CRO market is projected to grow at 16.00% CAGR from 2024-28, outpacing the global rate and aligning with APAC's growth trajectory.

Key factors driving India's attractiveness include:

• Large population with high disease burden providing access to diverse subject pools
• Availability of skilled workforce with doubled clinical trial investigators from 2015 to 2022
• Reliable regulatory environment following New Drugs and Clinical Trials Rules (2019)
• Supportive geopolitical dynamics
• Significant cost advantage of 40-60% compared to North America and Europe

Syngene's T&CR Business Capabilities

Syngene International's Translation and Clinical Research business operates as an integrated segment within the company's Research Services division. The T&CR business encompasses comprehensive capabilities across the drug development continuum.

The company has completed over 800 BA/BE studies for submissions in regulated markets and maintains partnerships with 180 sites in India and leading CROs across the U.S., U.K., Jordan, Europe, Australia, Sri Lanka, and New Zealand.

Operating Models and Strategic Focus

Syngene International operates through two primary models in the T&CR space. The 2-way model involves direct client engagement for end-to-end clinical trial solutions with milestone-based revenue over 15-24 months. The 3-way model features shared responsibilities for large-scale multi-region trials with diverse population subsets and longer contract timeframes.

The company's strategic focus centers on the "3S formula" - strengthen, stabilize, and streamline existing functions in the near term, while pursuing forward integration into subsequent phases of clinical trials for the mid to long term. This approach emphasizes supporting more complex and new modalities clinical trials while maintaining seamless integration across bioanalysis, translational science, and clinical development.

Future Outlook

The webinar highlighted Syngene International's positioning to capitalize on the growing clinical trials market through its comprehensive platform spanning discovery to commercialization. The company's integrated approach connects laboratory sciences with clinical services, providing clients with continuity across the drug development value chain and reducing development friction through confident bench-to-bedside transitions.