Biocon falls after USFDA completes surveillance inspection at its API facility with four observations
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Biocon is currently trading at Rs. 363.55, down by 5.15 points or 1.40% from its previous closing of Rs. 368.70 on the BSE.
The scrip opened at Rs. 366.85 and has touched a high and low of Rs. 369.00 and Rs. 361.50 respectively. So far 151349 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 395.65 on 17-Sep-2024 and a 52 week low of Rs. 217.50 on 31-Oct-2023.
Last one week high and low of the scrip stood at Rs. 381.85 and Rs. 361.50 respectively. The current market cap of the company is Rs. 43713.85 crore.
The promoters holding in the company stood at 60.64%, while Institutions and Non-Institutions held 20.20% and 19.17% respectively.
U.S. Food and Drug Administration (USFDA) has completed the surveillance inspection at Biocon’s API facility (Site 2), located at Bengaluru, Karnataka. USFDA had conducted the said inspection between September 23-27, 2024.
Four observations were cited at the end of the Inspection, which the Company will be addressing within the stipulated time. The Company does not foresee any impact on the business.
Biocon is India’s largest and Asia’s leading Biotechnology Company with a strategic focus on biopharmaceuticals and research services. It is a fully integrated, innovation driven biopharma enterprise offering affordable solutions for chronic diseases to patient's worldwide.
