The major force driving Syngene would be increased R&D spending by global pharmaceutical companies. Also companies would focus more on decreasing costs and hence would partner companies like Syngene. By reading RHP the major risk i could ascertain was with regards to clients of Syngene. Since it is kind of service related work one needs to monitor what are the developments taking place with the major clients of Syngene for eg. Bristol Myers. M&A activities in pharmaceutical companies can lead to alteration of these contracts which could have a material impact on earnings. Also any change in policy by these companies can only be known by studying the client companies in detail
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