Biocon continues operation amidst COVID-19 lockdown

Biocon Limited has informed that it is adjusting its operations to fully comply with regulations issued by respective national governments in light of the evolving COVID-19 situation.

In India, 21-day nationwide lockdown has been implemented from March 24, 2020, but ‘essential services’ such as manufacturing of pharmaceuticals have been permitted. Thus, Biocon and Biocon Biologics would continue to operate pharmaceutical manufacturing units in full compliance with government regulations.

The company further stated as it is involved in manufacturing of essential drugs, so it is assessing the impact of the lockdown on its ability to continue with manufacturing operations of essential pharmaceuticals, biopharmaceuticals and APIs in order to meet our commitments to patients, customers and partners.

It is also working to minimise disruption to production schedules and supply of drugs to its customers and partners led by supply chain disruptions and impaired mobility due to lockdowns. Its current inventory of most of the raw materials is estimated to last for the next few months.

Biocon Limited, which is a global company having a presence across India, UAE, Malaysia, Singapore, Europe, US, further stated that it has significantly reduced the number of people actually working at its facilities. Only those who are required to carry out manufacturing and quality operations based on planned production schedules are working while, the rest of the employees are either staying back or are working remotely from home.

On Friday, the stock of Biocon was up by 2.7 per cent to Rs 290.50 from its previous close of Rs 282.95 on BSE.