Biocon receives EU GMP Certification for Malaysia facility

Biocon’s Malaysia facility, which manufactures Insulin Glargine, received EU GMP Certification. Despite this development, the stock of the company fell by 0.76 per cent on Thursday.

Biocon Ltd announced that its subsidiary in Malaysia, Biocon Sdn. Bhd., which operates the integrated Insulins facility, has received the Certificate of GMP compliance from the European Medicines Agency from the representative European inspection authority, Health Products Regulatory Authority (Ireland). This facility has helped the company expand its capacities to serve the growing needs of people with diabetes in EU. Inspected in May 2019, the facility received the certificate of GMP compliance, reflecting that the agency considers the manufacturing facilities for Drug Substances, Drug Products and Insulin Delivery Devices to be in line with the guidelines of Good Manufacturing Practices. This business aims to impact 2.6 million patient lives in FY20 and aspires to position the company as a global leader.

Biocon Limited is a fully integrated, innovation-led global biopharmaceuticals company, committed to enhance affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune diseases. It has a large portfolio of biosimilars under global clinical development with three of these commercialized in the developed markets of EU, U.S. and Japan.

On Thursday, the stock of the company closed at Rs. 221.6, down by 0.76 per cent or Rs. 1.7 per share on BSE. Its 52-week high is 359.18 and 52-week low is 211.3.