Syngene International’s share prices have been volatile due to concerns over challenging funding conditions for US biotech. Despite a lower-than-expected Q4 performance, the company remains optimistic as underlying drivers of reduced demand for R&D services from US biotech due to difficult funding are showing signs of recovery. Overall, Syngene reported a 9% increase in revenue for FY24, supported by growth in development business and manufacturing services. Higher growth guidance, successful acquisition in manufacturing services, and benefits from China rotation are expected to drive future growth.