Preheat oven to 375. Melt butter in large skillet over medium heat. Add chicken, onion, thyme, paprika and pepper. Cook 5 minutes or until chicken is browned.

Combine 1/4 cup chicken broth with flour; stir until smooth. Set aside.

Add remaining chicken broth to skillet; bring to a boil. Gradually add flour mixture, stirring constantly to prevent lumps from forming. Simmer 5 minutes. Add peas and carrots; continue cooking 2 minutes.

Transfer to 1 1/2 quart casserole; top with biscuits. Bake 25-30 minutes or until biscuits are golden brown.