The said GMP compliance certificate has been issued post the EU GMP inspection that was conducted in February 2023 at the company's aforementioned facility.

Biocon is an innovation-led global biopharmaceuticals company. It has developed and commercialized novel biologics, biosimilars, and complex small molecule APIs in India and several key global markets as well as generic formulations in the US, Europe & key emerging markets.

The company reported 31% rise in consolidated net profit to Rs 313 crore on a 57% increase in revenue from operations to Rs 3,774 crore in Q4 FY23 as compared with Q4 FY22. Consolidated total revenue for Q4 FY23 increased 59% year-on-year (YoY) to Rs 3,929 crore.

The scrip rose 0.75% to currently trade at Rs 243.30 on the BSE.