Stocks of Biocon are trading 3.49% up or 11.70 points at 346.85, after the pharma major announced its Malaysian subsidiary being issued a GMP compliance for its insulin manufacturing facility.
Biocon Sdn. Bhd., the Malaysian Subsidiary has been issued a certificate of 'GMP' compliance by HPRA (Ireland) as the representative of European inspection authority.
This is the first overseas biopharma manufacturing and research facility of Biocon and employs over 600 professionals. The facility is designed to manufacture recombinant human insulin and insulin analgos to cater to the needs of people with diabets in global markets.
The EMA inspection was conducted in April 2017.
A company spokesperson suggested that the certificate of GMP compliance reflects the agency considered the site to be in compliance with principles and guidelines of good manufacturing practices for active substances, sterile drug products and quality control testing operations.
The spokesperson also shared that the Malaysian facility costing $275 million is a state of the art one with integrated insulin manufacturing facilities.
