In an exchange filing made after trading hours yesterday, the company said that it has been issued a good manufacturing practice (GMP) certificate of compliance by the European Directorate for the quality of medicines & healthcare (EDQM), for its active pharmaceutical ingredient (API) manufacturing facility in Bangalore.

This certification is based on a GMP inspection of the site that was conducted between the 12th and 14th of September 2022.

Biocon is an innovation-led, global biopharmaceutical company committed to enhancing affordable access to complex therapies for chronic conditions like diabetes, cancer and autoimmune diseases.

The company had reported a net profit (before exceptional items) of Rs 168 crore in Q2 FY23, down by 10% from Rs 188 crore in Q2 FY22. Revenue from operations increased by 26% YoY to Rs 2,320 crore during the quarter.

The scrip rose 0.57% to currently trade at Rs 271.15 on the BSE.