Biotech company Biocon on September 28 said that the US Food and Drug Administration (US FDA) has completed a surveillance inspection of its active pharmaceutical ingredient (API) plant in Bengaluru. Four objections have been issued by the US FDA after the inspection conducted between September 23 and September 27, 2024.

Biocon has not disclosed the details of the objections, but in the exchange filing, the company said that it will address the objections within the stipulated time. The company said that the company does not expect any impact on the business. This inspection was part of a routine investigation conducted by the US FDA to ensure compliance with the rules of regulatory standards in drug manufacturing. This announcement was made a few days ago On Thursday, 26 September, Biocon announced that it has entered into a licensing and supply agreement with Tabuk Pharmaceutical Manufacturing Company, a subsidiary of Astra Industrial Group. Under the agreement, the company will commercialize its glucagon-like peptide-1 (GLP-1) product in the Middle East. Share performance The company's stock closed 0.78 per cent down at Rs 369.95 on Friday, the company's stock has seen a gain of 38.61 per cent in the last one year. The 52-week high of the stock is Rs 395.80.