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

product facility.

"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

BSE filing.

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.)