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U.S. FDA classifies the inspection of Lupin's Pithampur, Indore Unit-2 facility as OAI

Posted On: 2019-04-23 22:00:25

Lupin Ltd has received a letter from the U.S. FDA classifying the inspection conducted at its Pithampur (Indore) Unit-2 facility in January 2019 as Official Action Indicated (OAI). The U.S. FDA has stated that this facility may be subject to regulatory or administrative action and that it may withhold approval of any pending applications or supplements in which this facility is listed.

The Company does not believe that this classification will have an impact on disruption of supplies or the existing revenues from operations of this facility.

The Company is in the process of sending further updates of its corrective actions to the U.S. FDA and is hopeful of a positive outcome.

Shares of LUPIN LTD. was last trading in BSE at Rs.864.3 as compared to the previous close of Rs. 831.55. The total number of shares traded during the day was 234871 in over 5169 trades.

The stock hit an intraday high of Rs. 868.5 and intraday low of 835. The net turnover during the day was Rs. 202037599.


Source: Equity Bulls

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