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Biocon tumbles 3% on 5 USFDA observations for Bengaluru unit

Monday, January 27, 2020, 7:44 PM

Shares of Biocon lost 2.8 percent intraday on January 27 after receiving five observations from the US health regulator for Bengaluru unit. The pharma company informed exchanges that the US FDA conducted a PAI and GMP inspection of the API manufacturing facility. It further said it would respond to the FDA with a CAPA and was confident of addressing these observations expeditiously.