Page 2 - Biocon

John Shaw, husband of Biocon chief Kiran Mazumdar Shaw, passes away

Biocon executive chairperson Kiran Mazumdar Shaw's husband John Shaw passed away on Monday morning in a private hospital, family sources said. He was 73. Shaw was admitted to the hospital where he was undergoing treatment, they said. The exact reason behind the death was not known. Shaw was the former vice chairman of the Bengaluru-headquartered Biocon Limited. He was an MA (Economics Honours) in History and Political Economy from the University of Glasgow in United Kingdom. He was also the former chairman of Madura Coats Limited and former finance and managing director of Coats Viyella Group.

Biocon falls 12% in 5 days on one major deficiency alert for API unit

The pharma company said it will respond to the European medical regulator with appropriate corrective and preventive actions within the stipulated time.

Biocon sells 5.4% stake in arm Syngene International for Rs 1,220 cr

Drugmaker Biocon on Tuesday divested a 5.4 per cent stake in its research arm Syngene International for a little over Rs 1,220 crore through an open market transaction. According to bulk deal data available with the BSE, Biocon, the promoter of Syngene International, sold a total of 21,789,164 shares, amounting to a 5.4 per cent stake, in the company. The shares were sold at an average price of Rs 560.04 apiece, a discount of more than three per cent to Monday's closing price of Rs 578.75 on the BSE. At this price, the transaction size has been pegged at Rs 1,220.28 crore, the data showed. The scrip of Syngene International has settled 2.38 per cent lower at Rs 565 apiece on the BSE. ICICI Prudential Mutual Fund was among the entities that lapped up the company's shares. As of June year, of the promoters' holding of 70.29 per cent, Biocon held a 69.99 per cent stake in Syngene, the shareholding pattern with the exchange showed. In separate block deals, Raja Ganesan Chandramogan,

Biocon sheds 4%, hits 52-week low as US FDA issues form 483 for 3 sites

The US health regulator has issued Form 483s with 11 observations each for two sites in Bengaluru and six observations for a plant in Malaysia site.

US FDA issues 11 observations each for two sites in Bengaluru: Biocon

Biocon Ltd on Wednesday said the US health regulator has issued Form 483s with 11 observations each for two sites in Bengaluru and six observations for a plant in Malaysia, following inspection of seven manufacturing facilities of its arm Biocon Biologics. As per US Food and Drug Administration (USFDA), Form 483 is issued to a firm's management at the conclusion of an inspection when the investigator has observed any conditions that may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts. The USFDA conducted three on-site inspections of Biocon Biologics' seven manufacturing facilities spanning two sites in Bengaluru, India and one at Johor, Malaysia, Biocon said in a regulatory filing. The inspections started with the Bengaluru site on August 11, 2022 and concluded with the Malaysia site on August 30, 2022, it added. "At the conclusion of these inspections, the agency has issued Form 483s with 11 observations each for the two sites in Bengaluru and six .

CBI files charge sheet in Rs 9 lakh Biocon Biologics bribery case

The CBI has filed a charge sheet in an alleged bribery case in which a senior official of the Central Drugs Standard Control Organisation(CDSCO) and a Biocon Biologics executive were arrested in June this year, officials said It is alleged that the bribe payment of Rs nine lakh to Joint Drug Controller S Eswara Reddy was cleared by the associate vice president of Biocon Biologics L Praveen Kumar, they said. The bribe was allegedly for favourably recommending the file of Insulin Aspart Injection to the Subject Expert Committee (SEC) meeting on May 18 for waiving the phase 3 clinical trial, they said. The agency had filed a charge sheet on August 18, they said. In a coordinated operation, the CBI had arrested Reddy, Kumar, Dinesh Dua, director at Synergy Network India Private Limited, who allegedly gave the bribe to Reddy, Guljit Sethi, an alleged conduit of Biocon Biologics, as well as assistant drug inspector Animesh Kumar in the case. Biocon Biologics, a subsidiary of Kiran Mazum

India at 75: Munjals to Mahindras - 20 visionary industrialists of India

In the decades since Independence, the enterprises steered by these business leaders have morphed into giants. Here's a look at 20 visionary industrialists of India

SAT quashes insider trading charges against Biocon official Shreehas Tambe

The Securities Appellate Tribunal (SAT) has quashed the insider trading charges against Shreehas P Tambe when he was senior vice president of Biocon Ltd.

We're geared to launch a new molecule every 1-2 years: Biocon Biologics MD

In an interview, Arun Chandravarkar explains why a company must continue investing in R&D despite the impact on short-term Ebitda

Biocon net profit rises 71% to Rs 144 cr in June quarter; revenue rises 23%

Biotechnology major Biocon on Wednesday reported a 71 per cent increase in consolidated net profit at Rs 144 crore for the June quarter on the back of robust growth across business verticals. The company had posted a net profit of Rs 84 crore in the April-June quarter of the previous fiscal. Total revenue rose to Rs 2,217 crore in the first quarter as compared with Rs 1,808 crore in the year-ago period, Biocon said in a regulatory filing. Biocon Executive Chairperson Kiran Mazumdar-Shaw said revenues grew as a result of robust growth in both biosimilar and generics verticals. "Our financial performance this quarter includes the impact of annual increments in personnel costs as well as increased input and freight costs, pursuant to pandemic and geopolitical disruptions of global supply chains," she added. All the company businesses are poised for the next phase of sustainable growth which has been challenged during the two years of the Covid pandemic, Mazumdar-Shaw said.

Biocon receives three US FDA observations on its Telangana plant

Biotechnology major Biocon on Thursday said the US health regulator has issued three observations after inspecting its Telangana-based manufacturing plant. The US Food and Drug Administration (USFDA) concluded a pre-approval inspection for Site 3 located at Hyderabad on July 20, Biocon Ltd said in a regulatory filing. "Three observations were cited at the end of the inspection, which we will be addressing within the stipulated time," it added. The company stands committed to quality, safety and efficacy of its products, the Bengaluru-based company said.

Biocon Biologics' antibody drug unit in Bengaluru gets EU GMP certificate

Approval comes from Irish health regulator, which had flagged some deficiencies in the manufacturing process iin May

Biocon arm Syngene ends contract with Bioinnovat Research over graft case

Guljit Sethi of Bioinnovat was named in CBI FIR on a bribery case involving CDSCO official and Biocon Biologics executive

Stocks to Watch Today: Adani Power, Biocon, Tata Steel, NTPC, PSU Banks

Stocks to Watch Today: Among airline shares, SpiceJet has reported seven aircraft related incidents in the last two months; while IndiGo said has hired over 1,500 cabin crew staff to counter likely at

Delhi HC rejects CBI plea for custody of four accused in Biocon case

The high court, however, directed the jail superintendent to hand over the custody of associate vice president of Biocon Biologics L Praveen Kumar

Research-linked incentive scheme in works for pharmaceutical industry

15% turnover investment in research could make companies eligible for the scheme

Biocon to buy 26% stake in AMPYR Renewable Energy Resources Eleven

The company has entered into an agreement for the purpose of "acquisition of solar power by acquiring equity stake up to 26 per cent in AREREPL", it said.

Stocks to watch: Reliance, Tata Motors, Biocon, Tata Steel, J&K Bank, BoB

Stocks to watch today: Akash M Ambani will take over as non-executive director and chairman of the board of directors of Reliance Jio; Tata Motors will hike prices of CVs by 1.5 to 2.5 per cent.

Biocon bribery case: CBI moves Delhi HC for custody of accused officials

CBI on Tuesday moved the Delhi High Court seeking the custody of officials accused of allegedly demanding bribes to waive the Phase-3 trial of "Insulin Aspart Injection"

Biocon Biologics bribery case: CBI moves HC challenging lower court verdict

The Delhi High Court has issued notices to the parties concerned and will hear the case on July 2