Biocon gains as insulin facility in Malaysia gets GMP nod

The stock was up 5.3% to Rs 353 on BSE in early morning trade.

Biocon was up 5.3% to Rs 353 on BSE in early morning trade after the company’s insulin manufacturing facility in Malaysia received a Good Manufacturing Practices (GMP) compliance certificate from Europe’s drug regulator.

“Biocon’s subsidiary in Malaysia, Biocon Sdn. Bhd., has been issued Certificate of ‘GMP Compliance’ from Europe for its insulin manufacturing facility in Malaysia,” the company said in a regulatory filing.

The Malaysia facility was inspected by European Medicines Agency (EMA) in April 2017.

“The certificate of GMP compliance reflects that the agency considered the site to be in compliance with the principles and guidelines of Good Manufacturing Practices for active substances, sterile drug products and quality control testing operations,” it added.

The facility that employs over 600 professionals is designed to manufacture recombinant human insulin and insulin analogs to cater to the needs of people with diabetes in global markets.

At 09:39 AM; the stock was up 4% at Rs 347 on BSE, as compared to 0.25% rise in the S&P BSE Sensex. A combined 2.42 million shares changed hands on the counter on BSE and NSE so far.