Biocon shares gain nearly 2% on EU GMP certification for Bengaluru facility

The share price of Biocon gained as much as 1.77 percent in morning on Thursday after receiving the EU GMP certification for its sterile drug product manufacturing facility.

"We have received the European Union Good Manufacturing Practice (GMP) certification for the sterile drug product manufacturing facility in Bangalore," the biotechnology major said in its filing on Wednesday.

The plant was inspected by the European agencies in March 2018.

This facility is used for the manufacture of portfolio of biosimilars. Biocon remains committed to global standards of quality and compliance, company's spokesperson said in a statement.

Earlier in May, in a regulatory filing, Biocon had said it had received a preliminary report from the European Regulator post inspection of its sterile drug product facility in Bengaluru in March 2018.

"The report lists six major observations with no observation classified as critical. We will submit a corrective and preventive action plan to the European inspection agency within the stipulated time period," a company spokesperson had said.