Biocon arm Syngene appoints Peter Bains as CEO

NEW DELHI: Biotechnology major Biocon's custom research arm Syngene has appointed Peter Bains as its Chief executive Officer (CEO).

"Company's Subsidiary Syngene International (Syngene) has appointed Peter Bains, Director, as the CEO of Syngene," Biocon said in a filing to BSE.

Bains has been a director of Syngene, since 2011. Syngene had yesterday said it would set up a new plant at Mangalore SEZ to manufacture pharma ingredients and agro chemicals and is in the process of acquiring approximately 40 acres of land in the SEZ.

There has been speculation that Biocon would file a prospectus for listing Syngene soon.

Biocon had sold its 10 per cent stake in Syngene for Rs 380 crore to IVF Trustee Company Private Ltd.

The deal had put the entire valuation of Syngene International Ltd at Rs 3,800 crore.