Biocon down 5% on manufacturing woes

3 May 2018

Indian drugmaker Biocon (BSE: 532523) closed more than 5% down at 628.65 rupees after trading on Mumbai on Thursday.

The reason behind this dip was the company’s update on the regulatory inspections that have revealed issues at its manufacturing plant in Bangalore.

In a statement, Biocon revealed that the US Food and Drug Administration (FDA) had completed a pre-approval inspection of the sterile drug product manufacturing facility this week and issued a Form 483 with seven observations.

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