Syngene Intnal hits a record high

Syngene International announced yesterday after market hours that it has completed a deal through which Syngene has purchased assets of Strand Life Sciences related to systems biology, Heptox and pharma bioinformatics services. This includes target dossier business and rights to NGS data analytics and Sarchitect platforms, supported by a strong scientific team.

Financial details of the deal were not disclosed.

This is a strategic deal as Strand’s bioinformatics platforms not only complement Syngene’s existing integrated service platforms but will also meet its customers growing needs for bioinformatics and data analytic support.

Despite no financial data being divulged, the market is very happy with this deal going through and the stock price hit a record high today at Rs.524.45, up 9% over previous close. Volumes have jumped up 4 times.