Syngene Intl tumbles after MD & CEO Peter Bains resigns; Siddharth Mittal to take charge

Syngene International dropped 3.31% to Rs 400.35 after the company?s board has accepted the resignation of Peter Bains as managing director (MD) and chief executive officer (CEO) effective 30 June 2026.

Following his exit, the board has approved the appointment of Siddharth Mittal as an additional director, designated as MD & CEO with effect from 1 July 2026.

Mittal previously served as MD and CEO of Biocon. He joined the company in May 2013 and served as president & chief financial officer until November 2019. He brings over two decades of experience in strategic finance, M&A, and general management.

During his tenure, he contributed to the growth of the biosimilars business and its transition into Biocon Biologics in 2019. Under Siddharth?s leadership, Biocon moved decisively into complex peptides and GLP-1 therapies, stepping into one of the most strategically significant segments in modern pharma. He also led the company?s entry into the Generic Formulations segment, building a portfolio of over 20 products across global markets.

Meanwhile, the board has also approved the redesignation of Kiran Mazumdar-Shaw from non-executive chairperson to executive chairperson, subject to shareholders? approval.

Syngene International is an integrated research, development, and manufacturing services company serving the global pharmaceutical, biotechnology, nutrition, animal health, consumer goods, and specialty chemical sectors.

The company?s consolidated net profit declined 88.56% to Rs 15 crore on 2.82% fall in revenue from operations to Rs 917.1 crore in Q3 FY26 over Q3 FY25.

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