Lupin, a leading pharmaceutical company, witnessed its share price declining slightly during early trade on March 18. The dip followed the receipt of a Form-483 with one observation for its Aurangabad facility from the United States Food and Drug Administration (US FDA).
The US FDA conducted an inspection of Lupin’s manufacturing facility at Aurangabad from March 6 to March 15, 2024, culminating in the issuance of the Form-483 with the noted observation.
In response to this development, Lupin expressed confidence in promptly addressing the concerns raised by the US FDA. The company reiterated its commitment to upholding quality and compliance, emphasizing its dedication to adhering to Current Good Manufacturing Practice (CGMP) standards across all its facilities.
“We are confident of addressing the concern raised by the USFDA and will resolve the same at the earliest,” the company said. “We uphold quality and compliance with utmost importance and are committed to comply with CGMP quality standards across all our facilities.”
As of 10:30 am, Lupin shares were trading 1.08% lower at ₹1,622.00 on the Bombay Stock Exchange (BSE). The stock touched a 52-week high of Rs 1,704.25 on March 11, 2024 and a 52-week low of Rs 628 on March 31, 2023