Biopharmaceutical company Biocon Ltd's shares fell as much as 3 per cent to Rs 607.05 in early trade on Thursday, their biggest intra-day per cent loss since February 15.

The company’s Bengaluru-based insulin drug substance manufacturing facility has got six Form 483 observations from the US FDA, Biocon said on Wednesday.

The FDA Form 483 notifies a company's management of objectionable conditions. More than 1.5 million shares changed hands, compared with the 30-day average volume of around 1.4 million shares.

The stock has hit its lowest level since February 19. The stock was down 0.47 per cent this year, as of last close.