Lupin hit by FDA woes

about 6 months ago
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On Saturday morning, Lupin stated that the US FDA completed an inspection of its Vizag API manufacturing facility. The inspection was carried out between January 13, 2020 and January 17, 2020.

The inspection for the API facility at Vizag closed with five 483 observations.

Prior to this, its Tarapur facility had got 3 observations and its Nagpur oral solid dosage unit, under the Prior Approval Inspection, got two 483 observations. All these in the month of January.

The stock price has reacted negatively to this news. Falling today after 2 days of consecutive gains, the stock hit an intraday low at Rs.737.85, going down almost 4%. Its 52-week high and low stands at Rs.887.70 and Rs.646.20.

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