Biocon shares surge 5% as Malaysia arm gets compliance certificate1 min read . Updated: 08 Sep 2017, 11:28 AM IST
Biocon shares surge over 5% after the company said its Malaysian arm has received a compliance certificate from the Health Products Regulatory Authority of Ireland
New Delhi: Shares of biopharmaceutical firm Biocon on Friday surged over 5% after the company 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% to Rs353 on BSE. At NSE, shares of the company gained 5.45% to Rs353. “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," Biocon spokesperson said in a statement on Thursday.
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.