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Symbiotec Pharma Shares Soar 8% on Positive US FDA Report for Pithampur Plant
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CNBC TV18•29-09-2026, 16:05
Symbiotec Pharma Shares Soar 8% on Positive US FDA Report for Pithampur Plant
- •Symbiotec Pharmalab shares jumped 8.53% after receiving an Establishment Inspection Report (EIR) with a Voluntary Action Indicated (VAI) classification from the US FDA for its Pithampur manufacturing facility.
- •The US FDA inspected the Pithampur facility from August 10 to August 14, 2026, with the company's filing not disclosing specific observations or corrective measures related to the VAI classification.
- •Symbiotec reported a significant decline in Q1 consolidated net profit by over 50% to ’14.1 crore, impacted by costs from new businesses yet to generate revenue.
- •The company expects new businesses, including biotechnology contract manufacturing, to start generating revenue within six to 12 months, contributing to an anticipated 20-25% growth in consolidated revenue and EBITDA for FY27.
- •Symbiotec has invested over ’400 crore in fermentation-based facilities using synthetic biology, with initial revenue expected in Q4 and operations scaling up in the next financial year.
Key Questions Answered
Shares of Symbiotec Pharmalab rose 8.53% to ₹1,145.80 after the company announced it received an Establishment Inspection Report from the US Food and Drug Administration for its manufacturing facility in Pithampur, Madhya Pradesh.
The US FDA inspected Symbiotec’s Pithampur manufacturing facility and issued an Establishment Inspection Report with a Voluntary Action Indicated classification.
Symbiotec reported a decline in net profit for the June quarter due to costs related to new businesses that have not yet begun contributing revenue, which incurred ₹23 crore in operating expenses and ₹12 crore in depreciation.
