May 3, 2018 / 4:12 AM / 3 months ago

BUZZ-India's Biocon falls; plant gets observations from US FDA, European regulator

** Biopharmaceutical company Biocon Ltd’s shares fall as much as 5.1 pct to 630 rupees, its biggest daily pct loss since Feb. 6

** Bangalore sterile drug product facility gets seven observations from U.S. FDA and six observations from the European regulator, co said on Wednesday

** Morgan Stanley says observations may result in near-term volatility, but co’s “long-term story seems intact with monetization of key products in the coming quarters”

** MS rates stock ‘overweight’ with PT of 785 rupees

** Up to Wednesday’s close, stock had risen 83 pct in the past year

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