Biocon, Biocon Biologics activate business continuity plans across functions in wake of COVID-19

Biotechnology major Biocon and its arm Biocon Biologics have activated business continuity plans across their functions to prepare for unforeseen events in light of the evolving COVID-19 situation.

The plans have been activated also to meet the needs of patients, partners, customers and other stakeholders, Biocon said in a filing to the BSE.

Biocon will continue to operate essential pharmaceutical manufacturing in full compliance with government requirements, it added.

"Since we are involved in manufacturing of essential drugs, we are assessing the impact of the lockdown on our ability to continue with manufacturing operations of essential pharmaceuticals, biopharmaceuticals and APIs in order to meet our commitments to patients, customers and partners," it added.

While supply chain disruptions and impaired mobility due to lockdowns have a direct bearing on the operations, "we are working to minimise disruption to production schedules and supply of drugs...," Biocon said.

The current inventory of most of "our raw materials for the company is estimated to last for the next few months," it added.

Shares of Biocon were trading at Rs276.35 per scrip, down 2.33 per cent, on the BSE.