Stock falls on Monday after Lupin gets 5 USFDA observations

The shares of Lupin Limited, a multinational pharmaceutical company based in Mumbai (Maharashtra), went down by around four per cent on Monday.

In an exchange filing, the company on January 18, 2020, informed that the United States Food and Drug Administration (USFDA) carried out an inspection for Active Pharmaceutical Ingredient (API) facility at Vishakhapatnam between January 13 and January 17, 2020. Lupin Limited further said that the inspection closed with five 483 observations.

Commenting on the inspection, the Managing Director of the Company, Nilesh Gupta said that they are fully committed to the adherence of Current Good Manufacturing Practice (cGMP) regulations and uphold high quality standards across all manufacturing sites. He further added that he is confident of addressing the observations as per USFDA’s satisfaction.

Meanwhile, on January 13, 2020, Lupin Limited had informed that its Tarapur facility concluded with Official Action Indicated (OAI) after the inspection conducted by USFDA. For more information, click here:

https://www.dsij.in/DSIJArticleDetail/ArtMID/10163/ArticleID/10973/Lupins-Tarapur-facility-gets-OAI

At 1.16 pm, the stock of Lupin is trading at Rs 733.50, down by 4.27 per cent against its previous close of Rs 766.25. The market on Monday opened at Rs 762.00. Its 52-week high is recorded at Rs 887.70 and its 52-week low is Rs 646.20 on BSE.