Syngene International has announced a significant extension of its research partnership with Bristol Myers Squibb, prolonging the collaboration through 2035. This partnership extension marks a strategic milestone for the contract research organization, demonstrating the strength of its existing relationship with the global pharmaceutical giant.

Partnership Extension Details

The extended partnership agreement solidifies Syngene International's position as a key research partner for Bristol Myers Squibb's drug development initiatives. The collaboration, now set to continue through 2035, provides long-term revenue visibility and operational stability for the Indian contract research organization.

Strategic Significance

This partnership extension represents a vote of confidence from Bristol Myers Squibb in Syngene International's research capabilities and service delivery. The long-term nature of the agreement underscores the strategic importance of the relationship for both organizations. For Syngene International, this extension provides:

• Enhanced revenue predictability through 2035
• Strengthened position in the contract research market
• Continued collaboration with a leading global pharmaceutical company
• Long-term operational planning opportunities

Market Impact

The partnership extension reinforces Syngene International's standing in the pharmaceutical services sector and demonstrates its ability to maintain long-term client relationships. This development is particularly significant given the competitive nature of the contract research organization market and the importance of sustained partnerships for business growth.

The announcement highlights Syngene International's continued focus on building enduring relationships with global pharmaceutical companies, positioning the company for sustained growth in the research services segment through the extended partnership timeline.

Syngene International Limited has received partial relief in a long-standing tax litigation case, with the National Faceless Appeal Centre (NFAC) ruling favorably on the company's appeal for Assessment Year 2016-17. The development was disclosed to stock exchanges on January 09, 2026, in compliance with SEBI listing regulations.

Tax Appeal Background

The tax dispute originated when the Assessing Officer passed an order under Section 143(3) of the Income-tax Act on December 27, 2018, making certain disallowances and additions that resulted in a demand of ₹72.33 crores. Syngene International subsequently filed an appeal on January 24, 2019, challenging these disallowances and additions.

NFAC Ruling and Implications

The NFAC has partially allowed Syngene's appeal and directed the Assessing Officer to verify certain claims and provide relief. The company believes there may not be any material impact on its financials, operations, or activities as a result of this order.

Current Status and Next Steps

The Assessing Officer will now pass an order giving effect to the NFAC's directions. Syngene International stated that it is currently analyzing the order and will take appropriate action as needed. The company expects the Assessing Officer's compliance with the NFAC order to result in a favorable adjustment to its tax position.

Regulatory Compliance

The disclosure was made in accordance with Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. No aberrations, non-compliances, penalties, restrictions, or sanctions were identified or imposed in the current NFAC order. The company has confirmed that all information provided is true, correct, and complete to the best of its knowledge and belief.