Biocon stock closes higher as Malaysia arm gets GMP compliance certificate

The Biocon stock rose over 5 per cent on Friday (intra day) after the firm said its Malaysian arm Biocon Sdn Bhd has received EU GMP compliance certificate from the Health Products Regulatory Authority of Ireland for its insulin manufacturing facility.

After making a positive opening, shares of the company further jumped 5.32 per cent to Rs 353 on BSE. At NSE, shares of the company gained 5.45 per cent to Rs 353.

The stock closed 2.16 percent higher at 342.40 on the BSE. 

"Biocon's subsidiary in Malaysia, Biocon Sdn Bhd, has been issued a certificate of 'GMP compliance' for its insulin manufacturing facility by HPRA (Ireland) as the representative European inspection authority," a Biocon spokesperson said in a statement.

The certificate reflects that the agency considered the plant to be in compliance with principles and guidelines of good manufacturing practices for active substances, sterile drug products and quality control testing operations, the statement added. Biocon's Malaysia facility was inspected by the European Medicines Agency (EMA) in April 2017.

Biocon's Malaysia facility is one of Asia's largest state-of-the-art integrated insulins manufacturing facilities set up with an investment of about $275 million at the BioXcell Biotech park in Malaysia. This is the first overseas biopharma manufacturing and research facility of the Bengaluru-based Indian firm.