Biocon Jumps As Malaysian Unit Gets Clearance For Supply To Europe
New Delhi: Shares of biopharmaceutical firm Biocon today surged over 5 per cent after the company said its Malaysian arm Biocon Sdn Bhd has received EU GMP compliance certificate from the Health Products Regulatory Authority of Ireland for its insulin manufacturing facility. This implies Biocon can now supply products manufactured at this plant to European markets.
After making a positive opening, shares of the company further jumped 5.32 per cent to Rs 353 on BSE. At NSE, shares of the company gained 5.45 per cent to Rs 353.
"Biocon's subsidiary in Malaysia, Biocon Sdn Bhd, has been issued a certificate of 'GMP compliance' for its insulin manufacturing facility by HPRA (Ireland) as the representative European inspection authority," Biocon spokesperson said in a statement yesterday.
The certificate reflects that the agency considered the plant to be in compliance with principles and guidelines of good manufacturing practices for active substances, sterile drug products and quality control testing operations, the statement added.
Biocon's Malaysia facility was inspected by the European Medicines Agency (EMA) in April 2017.
As of 11:30 am, Biocon shares traded 2.89 per cent higher at Rs 344.45 compared to 0.12 per cent gain in the broader Nifty. (With agency inputs)
