Gold Silver Reports (GSR) – Biocon Stock Declines After FDA Issues Form 483 – Shares of the Bengaluru-based pharma company fell as much as 4.5 percent, most in almost two months, to Rs 634.3. The U.S. drug regulator issued form 483 with seven observations after completing pre-approval inspection of the company’s sterile drug product manufacturing facility at Bengaluru this week, according to the company’s exchange filing. Observations are largely procedural and not critical, aiming at continuous improvement, it added.
Form 483 is issued when the U.S. FDA finds possible violations of the U.S. Food Drug and Cosmetic Act after an investigation.
The stock extended a two-day decline period today although it has given positive returns of 18.8 percent so far this year.
Bharat Madan, Group CFO At Escorts Speaks
✅ Overall sentiment remains bullish.
✅ Expect to touch double-digit growth again this year.
✅ Took one price hike in April, we hope things are stabilised.
✅ Had earlier predicted high single-digit growth, now seeing a possibility of a double-digit growth but the base is higher.
