Markets
BSE See NSE See 52,574.46
230.01 (0.44%)

Biocon gets USFDA observations

Geyatee Deshpande
/ Categories: Mindshare, DSIJ News
Rate this article:
5.0
Biocon gets USFDA observations

Biocon has been issued 12 observations by the USFDA for its assembly facilities in Malaysia. Despite the news, the stock price of the company increased by 1.5 per cent.

A pre-approval inspection across three units of Biocon Sdn Bhd's insulin glargine drug substance, drug product and device assembly facilities concluded with 12 observations by issuing an FDA Form 483. An FDA Form 483 is issued when the investigator has observed conditions which violate the Food Drug and Cosmetic (FD&C) Act and related Acts. The inspection took place between June 24 and July 5, 2019. The company officials responded by saying that corrective and preventive actions will be taken accordingly and there will not be any change in the commercialisation plans for insulin glargine in the US.

Biocon Ltd. is a Bangalore headquartered biopharmaceutical company manufacturing generic active pharmaceutical ingredients(APIs), bio-similar insulins and antibodies. The company’s subsidiary Syngene International Limited (Syngene) has business operations in integrated end-to-end drug discovery and development services.

On Monday, the stock of the company was trading at Rs. 243.35, an increase of 1.5 per cent or Rs. 3.6 per share. The 52-week high was Rs. 359.18 and 52-week low was Rs. 230 on the BSE.

Previous Article Ten stocks close to their 52-weeks low
Next Article Red is the colour of the day post budget!
Please login or register to post comments.

Get A Call From Industry Experts

Send Otp

   I authorize DSIJ Pvt Ltd to contact me. This will override registry on the NDNC.

DSIJ MINDSHARE

Gati trades at multiyear high; what is reviving the company and what is the Amazon connection?

Gati caters to the e-commerce logistics and the majority of revenues come from not more than couple of major e-commerce players. This may be risky in long run but as the sale increases for Amazon – Gati benefits.

Yogesh Supekar / Article rating: 4.7

Investing is all about betting on the improving prospects.

Quick Heal Technologies soars by 12 per cent; why the sudden interests in Quick Heal Technologies?

Quick Heal Technologies gained nearly 12 per cent on bourses outperforming the broader markets. The stock has been on dalal street’s radar for quite some time now, with analyst becoming bullish on the counter.

Yogesh Supekar / Article rating: 4.5

Quick Heal is up by 57.23 per cent on YTD basis while the stock is up by 148.35 per cent in one year.

124Last

Knowledge

First246Last