Biocon shares dip over 2% after US FDA observations

Shares of Biocon fell over 2% on June 18 after the US Food and Drug Administration (FDA) issued three observations for its Active Pharmaceutical Ingredients (API) facility in Visakhapatnam.

The US FDA completed its good manufacturing practices (GMP) inspection of Biocon’s API facility on June 14, 2024. “Three observations were cited at the end of the inspection, which we will be addressing within the stipulated time. Biocon stands committed to quality, safety, and efficacy of the products manufactured,” the company stated in an exchange filing.


As of 1:00 PM, Biocon shares were trading 2.09% lower at ₹327.80 on the NSE.