Biocon dips 4% on seven USFDA observations for Bengaluru drug facility

The stock dipped 4% to Rs 634 on the BSE in early morning trade.

Shares of Biocon have dipped 4% to Rs 634 per share on the BSE in early morning trade on Thursday after the biotechnology major on Wednesday said that US health regulator has made seven observations after inspection of its sterile drug product manufacturing facility in Bengaluru this week.

"The US Food and Drug Administration (US-FDA) has completed a pre-approval inspection of our sterile drug product manufacturing facility in Bangalore this week and issued a Form 483 with 7 observations,” Biocon said in a filing to BSE.


“The observations are largely procedural and aimed at continuous improvement. We