Lupin falls on getting warning letter from USFDA for Tarapur facility
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Lupin is currently trading at Rs. 661.35, down by 9.15 points or 1.36% from its previous closing of Rs. 670.50 on the BSE.
The scrip opened at Rs. 674.00 and has touched a high and low of Rs. 674.00 and Rs. 652.00 respectively. So far 36964 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 979.25 on 13-Oct-2021 and a 52 week low of Rs. 583.05 on 25-May-2022.
Last one week high and low of the scrip stood at Rs. 674.00 and Rs. 637.60 respectively. The current market cap of the company is Rs. 29988.06 crore.
The promoters holding in the company stood at 47.10%, while Institutions and Non-Institutions held 41.45% and 11.45% respectively.
Lupin has received a warning letter from the USFDA for the Company’s Tarapur, Maharashtra (India) facility. The USFDA had inspected the Lupin Tarapur site from March 22, 2022 to April 4, 2022. The Company does not believe that the warning letter will have an impact on disruption of supplies or the existing revenues from operations of this facility.
The company is committed to addressing the concerns raised by the USFDA and will work with the USFDA to resolve these issues at the earliest. The company upholds quality and compliance issues with utmost importance and remain committed to be compliant with CGMP quality standards across all its facilities.
Lupin is an innovation led transnational pharmaceutical company producing, developing and marketing a wide range of branded and generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.
