Biocon in pink of health after EU GMP certification

Biocon rose 1.1% to Rs 635.10 at 9:39 IST on BSE after the company announced that it has received the EU GMP certification for its sterile drug product manufacturing facility in Bangalore.

The announcement was made after market hours yesterday, 4 July 2018.

Meanwhile, the S&P BSE Sensex was down 15.03 points, or 0.04% to 35,630.37

On the BSE, 33,000 shares were traded in the counter so far compared with average daily volumes of 1.34 lakh shares in the past two weeks. The stock had hit a high of Rs 639.30 and a low of Rs 631.35 so far during the day. The stock hit a record high of Rs 695 on 5 June 2018. The stock hit a 52-week low of Rs 305 on 10 July 2017.

Biocon has received the EU GMP certification for its sterile drug product manufacturing facility in Bangalore, which was inspected by the European agencies in March 2018. This facility is used for the manufacture of Biocon's portfolio of biosimilars.

On a consolidated basis, net profit of Biocon rose 21.44% to Rs 139.90 crore on 26.39% rise in net sales to Rs 1169.50 crore in Q4 March 2018 over Q4 March 2017.

Biocon is India's largest and fully-integrated, innovation-led biopharmaceutical company.