Lupin share price falls as USFDA issues 2 observations for Nagpur facility

The share touched a 52-week high of Rs 943.10 and a 52-week low of Rs 602.80 on 12 July, 2023 and 04 August, 2022, respectively.

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Lupin share price fell in early trade on July 13 as company received two observations for its Nagpur facility.

Lupin on July 12 has informed that United States Food and Drug Administration (USFDA) inspected its Nagpur Oral Solid Dosage facility from July 3 to July 11, 2023.

The inspection closed with issuance of a Form-483 with two observations.

“We are confident of addressing the observations raised, and will work with the USFDA to resolve them at the earliest,” Lupin said.

“We uphold quality and compliance issues with utmost importance and remain committed to be compliant with CGMP quality standards across all our facilities,” the company added.

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On July 11, the  company received the establishment inspection report (EIR) from USFDA for its Pithampur Unit-2 manufacturing facility that manufactures oral solids and ophthalmic dosage forms.

The EIR was issued post the last inspection of the facility conducted from March 21 to March 29, 2023. The USFDA has determined that the inspection classification of the facility is Voluntary Action Indicated (VAI).

At 09:28 am, Lupin was quoting at Rs 932.40, down Rs 7.85, or 0.83 percent on the BSE.

The share touched a 52-week high of Rs 943.10 and a 52-week low of Rs 602.80 on 12 July, 2023 and 04 August, 2022, respectively.

Currently, the stock is trading 1.13 percent below its 52-week high and 54.68 percent above its 52-week low.