Thursday, 11 May 2017

Biocon plunges 6% on US FDA observations

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Shares of biopharma firm Biocon tumbled 6 per cent on the Bombay Stock Exchange after a media report suggested that the company has received eight observations for its Bengaluru unit. In a response to media reports, Biocon has said that observation on form 483 is a standard outcome of any audit and it has a good track record of inspections by the USFDA, European regulators and other regulators from developed and emerging markets.

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