Hot Pursuit     01-Sep-22
Biocon slips on receiving observations for 3 facilities from USFDA
Biocon declined 2.36% to Rs 302.35 after the company said that USFDA issued observations to three on-site inspections of Biocon Biologics'seven manufacturing facilities spanning two sites in Bengaluru, India and one at Johor, Malaysia.
The United States Food and Drug Administration (USFDA) has issued Form 483s with 11 observations each for the two sites in Bengaluru and 6 observations for the Malaysia site.

The inspections started with the Bengaluru site on 11 August, 2022 and concluded with the Malaysia site on 30 August 2022.

The pharma major said that these inspections were triggered on account of three pre-approval inspections for biosimilar Bevacizumab, rh-Insulin and Insulin Aspart and a capacity expansion inspection for biosimilar Trastuzumab. These included multiple drug substance and drug product facilities and other support infrastructure at these sites.

The observations are primarily related to the need for improving strategies for microbial control, enhancing quality oversight, augmenting the use of software applications & computerized tools to aid risk assessment & investigations and other procedural & facility upgrades, said the company.

The drug maker said in a statement, “We will submit corrective and preventive action plans (CAPA), to the US FDA in the stipulated time frame. We do not expect the outcome of these inspections to impact the current supply of our products. Biocon Biologics remains committed to global standards of quality and compliance.”

Biocon is a global biopharmaceutical company committed to enhancing affordable access to complex therapies for chronic conditions like diabetes, cancer, and autoimmune.

The biotech company's consolidated net profit surged 71.1% to Rs 144.40 crore on 21.5% jump in revenue from operations to Rs 2,139.50 crore in Q1 FY23 over Q1 FY22.

Previous News
  Biocon
 ( Results - Analysis 09-Aug-24   10:19 )
  Market at day’s high; VIX climbs 3.96%; realty shares advance
 ( Market Commentary - Mid-Session 18-Apr-24   12:37 )
  Biocon arm gets USFDA nod for chronic heart failure drug
 ( Hot Pursuit - 02-Sep-24   08:59 )
  Biocon features in S&P's Sustainability Yearbook 2024
 ( Corporate News - 20-Feb-24   12:28 )
  Biocon's new monoclonal antibodies facility in India get manufacturing approval from EMA
 ( Hot Pursuit - 24-Jun-24   09:34 )
  Biocon inks pact with Juno Pharma for commercialization of Liraglutide
 ( Hot Pursuit - 09-Oct-23   10:11 )
  Biocon Ltd spurts 2.7%, up for third straight session
 ( Hot Pursuit - 05-Apr-23   13:05 )
  Biocon acquires facility of Eywa Pharma in US for $7.7 mln
 ( Hot Pursuit - 02-Sep-23   14:59 )
  Biocon Ltd spurts 0.58%, gains for fifth straight session
 ( Hot Pursuit - 04-Jan-24   13:00 )
  Biocon edges higher after obtaining UK MHRA nod for diabetes drug Liraglutide
 ( Hot Pursuit - 28-Mar-24   10:06 )
  Biocon jumps after inking pact with Biomm SA
 ( Hot Pursuit - 18-Apr-24   11:47 )
Other Stories
  Equitas SFB total deposits jump 29% YoY in Q2 FY25
  05-Oct-24   16:28
  Ujjivan SFB total deposits rises 17% in Q2 FY25
  05-Oct-24   15:34
  L&T Finance retail disbursements jump 12% YoY in Q2 FY25
  05-Oct-24   14:31
  Bandhan Bank records over 21% YoY jump in loan book during Q2 FY25; deposits at Rs 1.42 lakh crore
  05-Oct-24   13:32
  Lupin's Pune-based biotech facility gets 5 observations from US FDA
  05-Oct-24   13:20
  Macrotech Developers pre-sales jumps 21% YoY in Q2 FY25
  05-Oct-24   09:04
  UCO Bank’s total advances jump 19% YoY in Q2 FY25
  04-Oct-24   15:15
  Vakrangee Ltd leads losers in 'A' group
  04-Oct-24   15:00
  Kamdhenu Ventures Ltd leads losers in 'B' group
  04-Oct-24   14:45
  GRSE bags Rs 226-cr LoA from West Bengal Govt
  04-Oct-24   14:40
Back Top