<PAGE> 1

                    SECURITIES AND EXCHANGE COMMISSION
                                     
                          Washington, D.C.  20549
                                     
                                 FORM 10-Q


(Mark One)

[ X ]     QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
          SECURITIES EXCHANGE ACT OF 1934

          For the quarterly period ended September 30, 1997

                                    OR

[    ]    TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
          SECURITIES EXCHANGE ACT OF 1934

          For the transition period from_______________to_______________

          Commission file number 0-12992

                             SYNTHETECH, INC.
          (Exact name of registrant as specified in its charter)
                                     
                      Oregon                         84-0845771
          (State or Other Jurisdiction            (I.R.S. Employer
           of Incorporation or Organization)       Identification No.)
                                     
           1290 Industrial Way, Albany, Oregon          97321
         (Address of Principal Executive Offices)     (Zip Code)

                               (541) 967-6575
           (Registrant's Telephone Number, Including Area Code)
                                     
      Indicate  by  check mark whether the registrant: (1)  has  filed  all
reports  required  to  be filed by Section 13 or 15(d)  of  the  Securities
Exchange  Act  of 1934 during the preceding 12 months (or for such  shorter
period that the registrant was required to file such reports), and (2)  has
been subject to such filing requirements for the past 90 days.

Yes  X    No_____

      The  number  of  shares of the registrant's common stock,  $.001  par
value, outstanding as of November 7, 1997 was 13,886,021.


<PAGE> 2 

                      PART I.  FINANCIAL INFORMATION

Item 1.  Financial Statements                  
                                                                      
                           SYNTHETECH, INC.
                                                                      
                            BALANCE SHEETS
                       -------------------------
<TABLE>                                                               
<CAPTION>                                                             
<S>                                              <C>         <C>
                                                                      
                                                 (unaudited)
                                                 September 30,   March 31,
                                                     1997           1997
                                                 -------------   ---------
       ASSETS
       ------

CURRENT ASSETS:                                                       
  Cash and cash equivalents                      $ 4,129,000  $ 6,740,000
  Securities available for sale                      175,000      176,000
  Accounts receivable, less allowance                                 
    for doubtful accounts of $15,000 for                              
    both periods                                   1,107,000      695,000
  Inventories                                      2,567,000    1,887,000
  Prepaid expenses                                   170,000      164,000
  Income tax receivable                               72,000      798,000
  Deferred income taxes                               56,000       56,000
  Other current assets                                     -        4,000
                                                  ----------   ----------
    TOTAL CURRENT ASSETS                           8,276,000   10,520,000
                                                                      
                                                                      
PROPERTY, PLANT AND EQUIPMENT, at cost, net        8,679,000    6,339,000
                                                                      
SECURITIES AVAILABLE FOR SALE                        453,000      450,000
                                                                      
OTHER ASSETS                                          14,000       14,000
                                                  ----------   ----------
    TOTAL ASSETS                                 $17,422,000  $17,323,000
                                                 ===========  ===========
</TABLE>                                                                      
               See notes to financial statements.        

<PAGE> 3

                                                                                
                           SYNTHETECH, INC.                                     
                                                                                
                            Balance Sheets
                           ---------------
                             (continued)                                
<TABLE>                                                                        
<CAPTION>                                                                      
<S>                                              <C>             <C>
                                                  (unaudited)
                                                  September 30,   March 31,
                                                     1997           1997
                                                  -------------   ---------
LIABILITIES AND SHAREHOLDERS' EQUITY                                          
------------------------------------  
                                                                                
CURRENT LIABILITIES:                                                            
  Current portion of note payable                  $    13,000  $    13,000
  Accounts payable                                     505,000      543,000
  Accrued compensation                                 111,000      674,000
  Deferred revenue                                      44,000       44,000
  Other accrued liabilities                              4,000        4,000
                                                    ----------   ----------
    TOTAL CURRENT LIABILITIES                          677,000    1,278,000
                                                                                
DEFERRED INCOME TAXES                                   70,000       68,000
                                                                                
NOTE PAYABLE, net of current portion                   174,000      180,000
                                                                                
SHAREHOLDERS' EQUITY:                                                           
  Common stock, $.001 par value; authorized                                     
   100,000,000 shares; issued and outstanding,                                  
   13,886,000 and 13,860,000 shares                     14,000       14,000
  Paid-in capital                                    8,435,000    8,296,000
  Employee notes receivable and deferred                                        
   compensation                                       (197,000)    (239,000)
  Unrealized gain on securities available for           
   sale                                                 17,000       16,000
  Retained earnings                                  8,232,000    7,710,000
                                                    ----------   ----------
    TOTAL SHAREHOLDERS' EQUITY                      16,501,000   15,797,000
                                                    ----------   ----------
    TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY     $17,422,000  $17,323,000
                                                   ===========  ===========
                    See notes to financial statements.
</TABLE>
<PAGE> 4
             
                               SYNTHETECH, INC.
         
                             STATEMENTS OF INCOME
                                            
                      --------------------------------------
                                 (unaudited)
<TABLE>           
<CAPTION>                             
<S>                          <C>          <C>           <C>        <C>
                                For the Three Months      For the Six Months
                                Ended September 30,       Ended September 30,
                                  1997        1996         1997        1996
-----------------------        ---------    ---------    ---------  ---------
REVENUES                      $1,491,000  $4,554,000    $2,971,000  $8,075,000
COST OF SALES                    861,000   1,768,000     1,584,000   2,896,000
                                --------   ---------     ---------   ---------
GROSS PROFIT                     630,000   2,786,000     1,387,000   5,179,000
                                             
RESEARCH AND DEVELOPMENT          52,000      35,000       113,000     104,000
SELLING, GENERAL AND 
 ADMINISTRATIVE                  321,000     311,000       610,000     590,000 
                                --------    --------      --------    --------
OPERATING EXPENSE                373,000     346,000       723,000     694,000
                                --------    --------      --------    --------
OPERATING INCOME                 257,000   2,440,000       664,000   4,485,000
OTHER INCOME, net                 75,000      92,000       158,000     175,000
                                --------    --------      --------    --------
INCOME BEFORE INCOME TAXES       332,000   2,532,000       822,000   4,660,000

PROVISION FOR INCOME TAXES       114,000     962,000       300,000   1,771,000
                                --------    --------      --------   ---------
NET INCOME                    $  218,000 $ 1,570,000    $  522,000 $ 2,889,000
                              ========== ===========    ========== ===========
             
NET INCOME PER COMMON SHARE        $0.02       $0.11         $0.04       $0.20
                                   =====       =====         =====       =====
        
SHARES USED IN PER SHARE 
 CALCULATION                  14,275,772  14,259,752    14,289,934  14,219,601
                              ==========  ==========    ==========  ==========
                                                   
                        See notes to financial statements.
</TABLE>
<PAGE> 5

                        SYNTHETECH, INC.
                                           
                    STATEMENTS OF CASH FLOWS                     
          --------------------------------------------           
                         (unaudited)          
<TABLE>          
<CAPTION>         
<S>                                              <C>            <C>
For the Six Month Period Ended September 30          1997           1996
-------------------------------------------       ----------     ----------
CASH FLOWS FROM OPERATING ACTIVITIES:        
Net income                                        $  522,000     $2,889,000
Adjustments to reconcile net income to         
  net cash provided by (used in) operating 
  activities:                    
      Depreciation, amortization and other           166,000        114,000
      Amortization of deferred compensation           55,000         18,000
      Accrued interest on securities available 
       for sale                                        1,000              -
      Accrued interest on employee notes 
       receivable                                     (1,000)        (2,000)
      Loss on disposal of property, plant 
       and equipment                                   5,000              -
      Deferred income taxes                            2,000         (1,000)
                 
    (Increase) decrease in assets:         
      Accounts receivable, net                      (412,000)      (455,000)
      Inventories                                   (680,000)      (162,000)
      Prepaid expenses                                (6,000)      (102,000)
      Income tax receivable                          726,000        152,000
      Other assets                                     1,000              -
    Increase (decrease) in liabilities:
      Accounts payable and accrued liabilities      (601,000)       384,000
      Deferred revenue                                     -        (54,000)
                                                  -----------    -----------
        Net cash (used in) provided by 
         operating activities                       (222,000)     2,781,000
                                                 ------------    -----------

CASH FLOWS FROM INVESTING ACTIVITIES:        
   Property, plant and equipment purchases        (2,501,000)    (1,685,000)
   Employee notes receivable                               -         50,000
                                                  -----------    -----------
        Net cash used by investing activities     (2,501,000)    (1,635,000)
                                                  ------------   -----------
CASH FLOWS FROM FINANCING ACTIVITIES:         
   Principal payments under long-term 
    debt obligations                                  (6,000)             -  
   Proceeds from stock option exercises 
    and disqualifying dispositions                   118,000        158,000
   Proceeds from stock warrant exercises                   -        186,000
                                                  -----------    -----------
        Net cash provided by financing 
         activities                                   112,000        344,000
                                                  -----------    -----------
NET(DECREASE)INCREASE IN CASH AND CASH 
 EQUIVALENTS                                      (2,611,000)     1,490,000
CASH AND CASH EQUIVALENTS AT BEGINNING 
 OF PERIOD                                         6,740,000      5,049,000
                                                  -----------    -----------
CASH AND CASH EQUIVALENTS AT END OF PERIOD        $4,129,000     $6,539,000
                                                  ===========    ===========
NON-CASH INVESTING ACTIVITIES:        
Unrealized gain (loss) on securities 
 available for sale                                   $1,000        ($5,000)
Issuance of stock options at below fair value        $21,000              -
           
                     See notes to financial statements.
</TABLE>
<PAGE> 6

                       NOTES TO FINANCIAL STATEMENTS

NOTE A.   GENERAL AND BUSINESS

          The summary financial statements included herein have been
prepared, without audit, pursuant to the rules and regulations of the
Securities and Exchange Commission.  Certain information and footnote
disclosures normally included in financial statements prepared in
accordance with generally accepted accounting principles have been
condensed or omitted pursuant to such rules and regulations, although
Synthetech management believes that the disclosures are adequate to make
the information presented not misleading.  It is suggested that these
summary financial statements be read in conjunction with the financial
statements and the notes thereto included in Synthetech's 1997 Form 10-KSB.

          Interim financial statements are by necessity somewhat tentative;
judgments are used to estimate quarterly amounts for items that are
normally determinable only on an annual basis.  For example, provision for
income taxes is an estimate of the annual liability pro-rated over the
quarters of the fiscal year based on estimates of annual income.  Further,
all inventory quantities are verified by physically counting the units on
hand at least once a year.  Normally, selected inventories are counted at
the end of each quarter.  For those inventories not counted at the end of
the quarter, quantities are determined using measured sales and production
data for the period.

      The interim period information included herein reflects all
adjustments which are, in the opinion of Synthetech management, necessary
for a fair statement of the results of the respective interim periods.
Results of operations for interim periods are not necessarily indicative of
results to be expected for an entire year.


NOTE B.   STATEMENTS OF CASH FLOWS

          Supplemental cash flow disclosures for periods ended September 30:
<TABLE>
<CAPTION>
<S>                        <C>        <C>           <C>         <C>
          Cash Paid
          ---------
                                 Three Months                Six Months
                               1997        1996           1997        1996
                               ----        ----           ----        ----
          Income Taxes      $   74,000  $1,397,000    $   153,000  $1,403,000
          Interest          $    5,000  $        -    $     9,000  $        -
</TABLE>

<PAGE> 7

                                     
                                     
                 NOTES TO FINANCIAL STATEMENTS (continued)
                                     
NOTE C. EARNINGS PER SHARE

     Earnings per share are computed using the weighted average number of
common shares and common stock equivalents (stock options and warrants)
outstanding during the applicable period.

     In February 1997, the Financial Accounting Standards Board issued SFAS
No. 128, "Earnings per Share", superseding Opinion 15.  SFAS No. 128
requires the calculation and disclosure of Basic Earnings per Share and
Diluted Earnings per Share, effective for both interim and annual periods
ending after December 15, 1997.   Basic earnings per share are computed by
dividing net income by the weighted average number of shares of common
stock outstanding during the period.  Diluted earnings per share are
computed by dividing net income by the weighted average number of shares of
common stock and common stock equivalents outstanding during the period,
calculated using the treasury stock method as defined in SFAS No. 128.  In
accordance with the provisions of SFAS No. 128,  the Company is providing
pro forma disclosure of the effects of this accounting change on reported
earnings per share (EPS) data as follows:
     
<TABLE>
<CAPTION>
<S>                                 <C>       <C>          <C>      <C>
                                     For the Three           For the Six
                                      Months Ended           Months Ended
                                      September 30,          September 30,
                                     1997       1996        1997      1996
                                     ----       ----        ----       ----
     Primary EPS as reported        $0.02      $0.11       $0.04      $0.20
     Effect of SFAS No. 128             -      $0.01           -      $0.01
                                    -----      -----       -----      -----
     Basic EPS as restated          $0.02      $0.12       $0.04      $0.21
                                    =====      =====       =====      =====
     
     Primary EPS as reported        $0.02      $0.11       $0.04      $0.20
     Effect of SFAS No. 128             -          -           -          -
                                    -----      -----       -----      -----
     Diluted EPS as restated        $0.02      $0.11       $0.04      $0.20
                                    =====      =====       =====      =====    
                                                           
                                                           
    Weighted average shares                                         
     outstanding for Basic   
     EPS                       13,875,048  13,596,171   13,883,630  13,556,020
                                                                    
     Common stock options                                           
      and warrants issuable                                         
      under treasury stock      
      method                      400,724     650,837      406,304     660,202
                               ----------   ---------    ---------  ----------
    Weighted average                                               
      common and common                                             
      equivalent   shares
      outstanding for         
      Diluted EPS             14,275,772   14,247,008   14,289,934  14,216,222
                              ==========   ==========   ==========  ==========
</TABLE>
<PAGE> 8

Item 2.  Management's Discussion and Analysis of Financial Condition and
Results of Operations
                                     

     The following table sets forth, for the periods indicated, the
percentage of revenues by each item included in the Statements of Income.

<TABLE>
<CAPTION>
<S>                                  <C>       <C>       <C>      <C>
        
                                            Percentage of Revenues
          
                                       Three Months          Six Months
                                       September 30,        September 30,
                                      1997        1996     1997      1996
                                      -----       -----    -----     -----
                                                                            
Revenues                              100.0 %    100.0 %   100.0 %   100.0 %
Cost of sales                          57.7       38.8      53.3      35.9
                                      ------     ------    ------    ------
Gross Profit                           42.3       61.2      46.7      64.1
                                                           
Research and Development                3.5        0.8       3.8       1.3
Selling, General and Administration    21.5        6.8      20.5       7.3
                                      ------     ------    ------    ------
Operating Expense                      25.0        7.6      24.3       8.6
                                                       
Operating Income                       17.3       53.6      22.4      55.5
Other Income                            5.0        2.0       5.3       2.2
                                      ------     ------    ------    ------
                                                                 
Income Before Income Taxes             22.3       55.6      27.7      57.7
                                                
Provision For Income Taxes              7.7       21.1      10.1      21.9
                                      ------     ------    ------    ------
Net Income                             14.6 %     34.5 %    17.6 %    35.8 %
                                      ======     ======    ======    ======
</TABLE>

Revenues
--------
     Revenues decreased by 67% to $1.49 million in the second quarter of
fiscal 1998 from $4.55 million in the second quarter of fiscal 1997.
Revenues were $2.97 million for the first half of fiscal 1998, a 63%
decrease from revenues of $8.08 million in the first half of fiscal 1997.
International sales, mainly to Japan and Western Europe, were $417,000 and
$1.19 million for the second quarter and first half of fiscal 1998 as
compared to $2.25 million and $2.77 million for the second quarter and
first half of fiscal 1997.
<PAGE> 9
Item 2.  Management's Discussion and Analysis of Financial Condition and
Results of Operations (continued)

     The results for the second quarter and first half of fiscal 1998 were
directly attributable to the absence of large projects similar to those
underway during the first half of fiscal 1997.  During last year, revenues
for the second quarter of fiscal 1997 included sales associated with
Peptide Building Block ("PBB") orders for use in late stage clinical trials
by two customers of $1.9 million and $1.21 million, respectively,
representing 68% of revenues for the quarter, and $3.25 million and $2.51
million, respectively, representing 71% of revenues for the first half of
fiscal 1997.  By contrast, in the current year, the largest customer for
the second quarter of fiscal 1998 accounted for significantly less revenue
at 21% of revenues for the quarter, and 23% of revenues for the first half
of fiscal 1998. The reduction in revenues for the second quarter and first
half of fiscal 1998 from the second quarter and first half of fiscal 1997
demonstrates the continuing potential for period to period fluctuations in
sales of products.

     Looking forward, two pharmaceutical customers have confirmed new
orders for PBBs at the multi-ton scale to support production of their drugs
for launch quantities.  The Company expects to deliver these orders
totaling nearly $5 million in periodic shipments to be completed by the end 
of Calendar 1998 on a schedule to be finalized by the customers.  Initial
deliveries may begin as early as next month.  Accordingly, the Company
expects that it will continue to experience quarter to quarter revenue
fluctuations inherent in supplying the pharmaceutical sector, including
potential changes in order quantity and delivery schedules.

     The Company has not yet established a stable baseload of demand for
its products.  The Company's products are part of a new and emerging market
with sizable fluctuations in orders between periods.  In most instances,
order or reorder cycles for products are not predictable.  Demand for PBBs
is extremely variable since individual clinical trial programs are always
subject to significant risk of suspension or early cancellation and only a
small percentage of drugs in clinical trial programs are ultimately
approved for market use.  Additionally, market demand for approved drugs is
not known in advance of market launch.  As a result, the Company expects to
continue to see fluctuations in its revenue from period to period.  (See
"Industry Factors" below.)


Gross Profit
------------
     Gross profit decreased to $630,000 in the second quarter of fiscal
1998 from $2.79 million in the second quarter of fiscal 1997.  As a percent
of sales, gross profit decreased to 42% in the second quarter of fiscal
1998 from 61% for the same period last year.  Gross profit decreased to
$1.39 million or 47% of revenues in the first half of fiscal 1998 from
$5.18 million or 64% of revenues for the same period of fiscal 1997.  The
decrease in gross profit as a percentage of revenues resulted from the
lower level of revenues and, to a lesser extent, the mix of products.   The
Company expects revenue to continue to fluctuate from period to period and
cause variations in gross profit margins.  Decreased revenues will tend to
have the affect of reducing gross profit margins since a significant
portion of the Company's manufacturing overhead costs are relatively fixed.


Operating Expenses
------------------
     Research and development (R&D) and selling, general and administrative
(SG&A) expenses were $373,000  in the second quarter of fiscal 1998
compared to $346,000 in the second quarter of fiscal 1997.  As a percentage
of sales, R&D and SG&A expenses increased to 25% in the second quarter of
fiscal 1998 from 8% in the same period of fiscal 1997 due to the lower
level of revenues.  R&D and SG&A expenses increased to $723,000 in the
first half of fiscal 1998 from $694,000 in fiscal 1997.  As a percentage of
sales, R&D and SG&A expenses increased to 24% in the first half of fiscal
1998 from 9% in the same period of fiscal 1997 due to the lower level of
revenues.
<PAGE> 10
Item 2.  Management's Discussion and Analysis of Financial Condition and
Results of Operations (continued)


Operating Income
----------------
     Operating income decreased to $257,000 or 17% of revenues in the
second quarter of fiscal 1998 from $2.44 million or 54% for the same period
last year.  For the first half of fiscal 1998 operating income decreased to
$664,000 or 22% of revenues compared with $4.49 million or 56% for the
first half of fiscal 1997.


Other Income
------------
     The net other income of $75,000, and $158,000 in the second quarter
and first half of fiscal 1998, respectively,  and the $92,000 and $175,000
net other income in the second quarter and first half of fiscal 1997,
respectively, came primarily from interest earnings.


Net Income
----------
     For the second quarter and first half of fiscal 1998, the Company
earned $332,000, and $822,000 before income taxes, respectively.  A
provision for income taxes of $114,000 resulted in net income of $218,000
for the second quarter and a provision for income taxes of $300,000
resulted in net income of $522,000 for the first half of fiscal 1998.  The
Company's effective tax rate for the first half of fiscal 1998 was 36.5%.
The effective tax rate has been reduced to reflect a one time tax credit
legislated by the State of Oregon for fiscal 1997.


Industry Factors
----------------
     The market for PBBs is driven by the market for the peptide-based
drugs in which they are incorporated.  The drug development process is
dictated by the marketplace, drug companies and the regulatory environment.
The Company has no control over the pace of peptide-based drug development,
which drugs get selected for clinical trials, which drugs are approved by
the FDA and, even if approved, the ultimate potential of such drugs.  Since
there are only a handful of approved peptide-based drugs on the market
today, this market is still very early in development and a substantial
amount of the activity is occurring at the earlier stages of research and
development and clinical trials.

     Developments of new biological information, based on rational drug
design and combinatorial chemistry, are creating additional peptide-based
drug candidates.  Cost pressures in the pharmaceutical industry, however,
have tightened the criteria used to assess drug prospects at all phases of
drug development programs.  Cost pressures in the pharmaceutical industry
can also cause pharmaceutical companies to investigate alternative drug
manufacturing processes which may not include the Company's products as an
intermediate.

     As a supplier of building blocks for peptide-based drugs, the
Company's revenue will be affected by these industry factors.  Development
cycles typically are quite prolonged.  Also, the high cancellation rate for
drug development programs results in a significant likelihood that there
will be no subsequent or "follow-on" PBB sales for any particular drug
development program.  Since the Company's revenue comes predominantly from
PBBs used in drug development programs, the overall impact on the Company's
business from the cancellation rate will depend, to a large extent, on the
rate of new drug development efforts being commenced.
<PAGE> 11

Item 2.  Management's Discussion and Analysis of Financial Condition and
Results of Operations (continued)
     
     The advancement of a drug for which Synthetech is providing PBBs from
a drug development program into an "approved" status by the FDA could also
significantly affect the Company's business if Synthetech is able to
continue to supply the PBBs for the approved drug.  With the increased
volume typically associated with "approved" drugs, the Company, however,
expects to face increased competition for this business.

     Due to the wide range of drugs under development at various stages,
sizable fluctuations in orders, and the unpredictability of order or
reorder cycles for products and the other factors discussed herein, the
Company does not have a stable baseload of demand for its products and
cannot estimate the potential market for its products.  Moreover, the
Company's customers vary substantially from year to year and the Company
currently cannot rely on any one customer as a constant source of revenue.
For the foregoing reasons, the Company has experienced in the past, and is
likely to experience in the future, significant fluctuations in its
quarterly results.


Capital Resources and Liquidity
-------------------------------
     At September 30, 1997, the Company had working capital of $7.60
million compared to $9.24 million at March 31, 1997.  The Company's cash,
cash equivalents and short term securities available for sale at September
30, 1997 totaled $4.30 million.  In addition, the Company had a $1 million
bank line of credit of which there was no amount outstanding at September
30, 1997.

     The increase in accounts receivable to $1.11 million at September 30,
1997 from $695,000 at March 31, 1997 reflected the timing of shipments
during the quarter.  The reduction in income tax receivable to $72,000 at
September 30, 1997 from $798,000 at March 31, 1997 reflected a tax refund
which resulted from the income tax benefit to the Company in fiscal 1997
associated with certain sales of stock by employees and others within one
year of their exercising stock options and warrants.  The increase of 
inventory to $2.57 million at September 30, 1997 from $1.89 million at 
March 31, 1997 primarily resulted from replenishing lower levels of raw 
material and finished product inventory items, and timing of production 
projects in work-in-process inventory.  The decrease in accrued compensation 
to $111,000 from $674,000 reflected the payment in the first quarter of 
fiscal 1998 of bonuses accrued for fiscal 1997.

     The Company had approximately $2.50 million of capital expenditures
during the first half of fiscal 1998, of which $46,000 was for equipment
and equipment upgrades in the existing plant and $2.45 million for the new
plant expansion.  The Company anticipates total capital expenditures for
fiscal 1998 for the existing plant to be $500,000 and for the new plant
expansion to be $2.91 million for a total of $3.41 million.  The total cost
of the plant expansion is estimated to be $7.70 million and is expected to
be operational in December 1997.   The plant expansion is a 20,000 square
foot two-story manufacturing building which includes four 2,000 gallon
process systems in two bays and auxiliary equipment, with four vacant bays
available for additional capacity as needed in the future.  The Company
continues to expect to finance these capital expenditures from internal
cash flow.


                        ________________________          
      
      
      Certain statements in the Company's Form 10-Q contain  "forward-
looking" information (as defined in Section 27A of the Securities Act of
1933 and Section 21E of the Securities Exchange Act of 1934) that involve
risks and uncertainties, including, but not limited to, potential quarterly
revenue fluctuations, uncertain market for products, technological change,
customer concentration, the impact of competitive products and pricing, and
the increased costs associated with the Company's facility expansion.
These forward-looking statements should be considered in light of the
uncertainties and other risks detailed in the Company's Securities and
Exchange Commission Filings, including the Company's Form 10-KSB for the
fiscal year ended March 31, 1997.
<PAGE> 12

                        PART II - OTHER INFORMATION

Item 4.  Submission of Matters to a Vote of Security-Holders

     The Company held its Annual Meeting of Shareholders on July 17, 1997.
At that meeting, the following Directors were elected by the Shareholders:

<TABLE>
<CAPTION>
<S>                                            <C>              <C>
Election Of Directors

     Class/Name                                    Votes For    Votes Withheld
     ----------                                    ---------    --------------
     Class I Directors (term expiring in 1998):
     Paul C. Ahrens                                11,860,545        28,173
     Page E. Golsan III                            11,860,545        28,173

     Class II Directors (term expiring in 1999):
     Edward M. Giles                               11,860,545        28,173
     Charles B. Williams                           11,854,645        34,073
     
     Class III Directors (term expiring in 2000):
     Howard L. Farkas                              11,860,545        28,173
     Donald E. Kuhla, Ph.D.                        11,859,545        29,173
     M. ("Sreeni") Sreenivasan                     11,860,545        28,173

</TABLE>


Item 6.  Exhibits and Reports on Form 8-K

(a)  Exhibits

     3.1* Articles of Incorporation

     3.2* Bylaws

    27    Financial Data Schedule

__________________
      
      *Incorporated by reference herein from the Company's Form 10-K for
      the year ended March 31, 1991.

(b)  Reports

     No reports on Form 8-K were filed during the quarter.
<PAGE> 13





                                SIGNATURES



In accordance with the requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.




                                   SYNTHETECH, INC.
                                      (Registrant)



Date:  November 12, 1997      /s/  M. Sreenivasan
                                   M. Sreenivasan
                                   President & C.E.O.



Date:  November 12, 1997     /s/  Charles B. Williams
                                  Charles B. Williams
                                  Vice President, Finance
                                  and Administration, C.F.O.,
                                  Chief Accounting Officer