Lupin share price fall on observation from USFDA

Lupin share price fell marginally in the early trade on March 18 after the company received Form-483 with one observation for its Aurangabad facility.

At 9.48am, Lupin was quoting at Rs 1,629.10, down Rs 7.70, or 0.47 percent, on the BSE.

The United States Foods and Drugs Administration (US FDA) inspected company's manufacturing facility at Aurangabad from March 6 to March 15, 2024 and issued Form-483 with one observation.

"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."

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The stock has surged nearly 150 percent in past year. It 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. The stock is trading 4.41 percent below its 52-week high and 159.41 percent above its 52-week low.