Pharma-Bio Serv, Inc.
Pharma-Bio Serv, Inc. is a Puerto Rico-based technical compliance consulting firm organized in Delaware and serving clients in the United States, Puerto Rico, Europe and, to a lesser extent, Brazil. It provides regulatory affairs, quality, validation, technology transfer, engineering, project management and process support services to regulated life-science and allied industries.
Fiscal year 2025 · change from previous year
Development 2020–2025
Business
Share of revenueAdvisory services that help clients meet FDA and international regulatory requirements.
Testing, documentation and qualification work for regulated facilities, systems and processes.
Support for transferring products, processes and methods between sites or organizations.
Technical project execution, process support and implementation services for client operations.
Ongoing quality assurance, compliance remediation and operational support services.
Customers
The company serves pharmaceutical, biotechnology, medical device, chemical, cosmetic and food manufacturers, plus allied products companies. Its work is typically project-based and tied to regulatory, validation and technology-transfer needs at client facilities, which makes large regulated manufacturers the core customer base. A small number of customers can represent a meaningful share of annual revenue, reflecting the concentration common in specialized consulting engagements.
Buy regulatory, validation and technology-transfer services to support manufacturing and compliance.
Buy quality, process and regulatory support for development and production environments.
Buy validation, qualification and compliance consulting for regulated operations.
Buy technical compliance and process support for regulated production activities.
Buy compliance and technical support where product and facility regulations apply.
Strategy
The company’s strategy is to deepen relationships with large regulated manufacturers by delivering specialized compliance and technology-transfer services. It also seeks to broaden its market presence in the United States, Europe and Brazil while recruiting and retaining highly experienced technical consultants. Because the business is project-based, winning repeat work and expanding account penetration are central to sustaining its competitive position.
Broader market coverage reduces dependence on any one region and opens more client opportunities.
The business depends on specialized consultants with regulated-industry expertise.
Larger existing customers can generate recurring project opportunities and higher utilization.
Geography
Q3/2024Pharma-Bio Serv is headquartered in Puerto Rico and operates across Puerto Rico, the United States and Europe, with a smaller and developing presence in Brazil. In the latest disclosed quarterly regional mix, Puerto Rico and the United States remained the largest revenue contributors, while Europe represented a meaningful and variable share depending on project timing. Geography matters because the company’s work is tied to local regulated manufacturing activity, client capital spending and cross-border compliance requirements.
Risks
The business is exposed to customer concentration, since a small number of clients can account for a large share of revenue in a given year. It also depends on regulated industries and regional manufacturing activity, so changes in FDA or international rules, client capital spending, inflation, tax policy or economic conditions can reduce demand for consulting services. Competition is fragmented and entry barriers are modest, which can pressure pricing and make talent retention important.
- Customer concentrationImpact: HighLikelihood: Medium
Three customers represented 43.5% of revenue in fiscal 2025, so losing a major account would materially affect results.
Exposure - Regulatory change riskImpact: HighLikelihood: Medium
The company sells services that are driven by FDA and international compliance requirements.
Exposure - Competitive pressureImpact: MediumLikelihood: Medium
The market includes local, national and international consulting firms, some with greater resources.
Exposure - Macroeconomic and industry cyclicalityImpact: MediumLikelihood: Medium
Client spending on compliance projects can slow when inflation, interest rates or industry consolidation affect investment decisions.
Exposure: Life-science manufacturing markets
Accounting
Judgemental itemsConsulting revenue depends on when projects are performed and completed, which can create quarterly volatility.
Impact: Affects revenue comparability across periods
Receivables are concentrated among large regulated-industry customers, so collectability assumptions matter.
Impact: Affects bad debt expense and net receivables
The company disclosed settlement effects from foreign exchange on intercompany balances.
Impact: Affects other income, net
Deferred tax assets depend on future taxable income and enacted tax rates.
Impact: Affects tax expense and deferred tax balances
Operating and finance lease recognition affects reported assets, liabilities and expenses.
Impact: Affects leverage and operating expense presentation
Similar listed companies
Publicly listed companies with a comparable business focus.
Biomerica, Inc
BMRA · In Vitro & In Vivo Diagnostic Substances
Passage BIO, Inc.
PASG · Biological Products, (No Diagnostic Substances)
Cero Therapeutics Holdings, Inc.
CEROW · Biological Products, (No Diagnostic Substances)
LeonaBio, Inc.
LONA · Biological Products, (No Diagnostic Substances)
Bio Green Med Solution, Inc.
BGMSP · Wholesale-Durable Goods, NEC
REGENXBIO Inc.
RGNX · Biological Products, (No Diagnostic Substances)
Last updated: 24/09/2026