Biocon gained 1.82% to Rs 356 after the company said it received establishment inspection report (EIR) for small molecules API manufacturing facility in Bengaluru.
Biocon on Friday (8 May) said it has received the Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for the pre-approval and GMP inspection of its small molecules API manufacturing facility at Biocon Park SEZ, Bommansandra, Bengaluru.The inspection was conducted between 20 and 24 January 2020. At the conclusion of the inspection, USFDA issued a Form 483, with five observations, which are being addressed by the company. The EIR has been closed with a 'VAI' classification for the observations.
The stock trades 3.31% below its 52-week high of Rs 367.8 posted on 20 April 2020. Shares of Biocon have surged 8.75% in last one month as compared to a 10.95% rise in Nifty Pharma index in the same time frame.
Biocon is an innovation-led global biopharmaceuticals company.
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