Shares of Syngene International Ltd. fell nearly 2% in early trade on February 24 following an update on the USFDA inspection at its Bengaluru facility. The pharmaceutical contract research and manufacturing firm informed the exchanges that the United States Food & Drug Administration (USFDA) conducted a pre-approval and cGMP (current Good Manufacturing Practices) inspection at its manufacturing site from February 10 to February 20, 2025.
At the end of the inspection, the USFDA issued Form 483 with five observations, indicating areas where the company needs to improve compliance with regulatory standards. The company assured investors that it is committed to addressing these observations comprehensively within the stipulated timeline.
Stock Performance
- Current price: ₹696.25, down 2.45%
- Previous close: ₹713.95
- Day’s range: ₹690.15 – ₹711.10
- Market cap: ₹281.85 billion
- P/E ratio: 56.20
- Dividend yield: 0.18%
Despite the drop, Syngene has been actively expanding its presence in global pharmaceutical markets. Investors will closely monitor the company’s response to the USFDA’s observations, as regulatory compliance plays a crucial role in maintaining business continuity in the US market.