Biocon Plunges Over 9%

Biocon, the Indian biopharma giant, plunged over 9% during Monday’s trade on the BSE as the French inspecting authority (ANSM) found lapses at Biocon's Bengaluru plant.

The ANSM inspected the Biocon's Bengaluru plant on behalf of the European Medicine Agency (EMA).

ANSM notified Biocon that the receipt of a GMP compliance certificate for the drug product facility will require a follow-up inspection from ANSM to verify the implementation of the proposed corrective and preventive actions, said Biocon in a BSE filing on Sunday.

Biocon, with its partner Mylan, will work with the French and European regulatory authorities with regard to the follow-up inspection of the drug facility and the marketing authorisation applications with the goal of an early re-inspection, informed Biocon.

Biocon was trading at Rs 319.70, down by Rs 17.35 or 5.15% as at 1153 hours on Monday, on the BSE.

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