On June 5, Biocon shares opened positively, gaining 1.5% as USFDA dispensed no observations on the company’s Bengaluru facility.

Biotechnology company Biocon has logged that the US Food and Drug Administration (USFDA) determined a surveillance and pre-approval scrutiny of Biocon Pharma Limited Oral Solid Dosage formulations manufacturing facility at Bengaluru, Karnataka, on June 2, issuing ‘no observations’ on close.

On May 2023, the company reported a 31% rise in consolidated net profit at Rs 313 crore for Q4FY22-23, as against Rs 239 crore last fiscal.

Revenue from operations mounted 56.7% to Rs 3,773.9 crore in the quarter under review, besides Rs 2,409 crore a year back.

The company’s EBITDA soared 68.4% to Rs 997.3 crore in Q4FY23, as against Rs 592 crore in the previous year’s equivalent period. EBITDA margin extended by 180 bps to 26.4% in the quarter under review as against 24.6%.

At 9:37 am, Biocon traded at Rs 241.65, up Rs 1.25, or 0.52% on the BSE.

The share moved a 52-week high of Rs 344 and a 52-week low of Rs 191.60 on June 10, 2022, and March 21, 2023. It is trading 29.75% below its 52-week high and 26.12% above its 52-week low.