Biocon shares up 7% as facility gets inspection closure report
Shares of biotechnology firm
Biocon today surged over 7 per cent after the company said it
has received an EIR from the USFDA on closure of inspection of
its aseptic drug product facility.
The stock soared 7.27 per cent to settle at Rs 423 on
BSE. During the day, it zoomed 7.74 per cent to Rs 424.90 -
its 52-week high.
At NSE, shares of the company gained 7.31 per cent to end
at Rs 423.20.
In terms of equity volume, 7.55 lakh shares of the
company were traded on BSE and over 80 lakh shares changed
hands at NSE during the day.
Biocon today said it has received the EIR (Establishment
Inspection Report) with 'voluntary action indicated' status
from the USFDA on closure of inspection of its aseptic drug
"The US Food and Drug Administration (USFDA) has issued
an EIR in relation to the cGMP (current good manufacturing
practice) inspection of its aseptic drug product facility that
was audited between May 25 -June 3, 2017," Biocon said in a
The USFDA releases a copy of EIR to the establishment
that is the subject of an FDA or FDA-contracted inspection
when the agency determines the inspection to be closed.
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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