Biocon Limited updates on GMP inspection by USFDA at its Cranbury, New Jersey facility

Subsequent to the inauguration of the Company's first manufacturing site in the United States, located in Cranbury, New Jersey, in September, that will support capacity expansion and supply chain efficiency in the region, the facility underwent a GMP inspection by the U.S. FDA.

The inspection concluded with 1 observation which the Company will address within the stipulated time and is not expected to have any impact on business operations.

The Cranbury facility represents a strategic advancement of the Company's operations in the Unted States, enabling faster access to Biocon's vertically integrated portfolio of products, benefitting patients in the region. With some products having already been commissioned from this site and additional launches in the pipeline, the facility will play a key role in furthering Biocon's mission to expand access to high-quality, affordable therapies worldwide.

Shares of Biocon Limited was last trading in BSE at Rs. 352.90 as compared to the previous close of Rs. 352.75. The total number of shares traded during the day was 167658 in over 3630 trades.

The stock hit an intraday high of Rs. 357.65 and intraday low of 348.70. The net turnover during the day was Rs. 59124998.00.

Source : Equity Bulls

Keywords

Biocon INE376G01013 Biotechnology USFDA GMPInspection Cranbury NewJersey 1Observation