Lupin's Somerset (NJ, US) facility gets 13 obsevations post U.S.FDA inspection

Lupin Ltd's subsidiary Novel Laboratories Inc. based in Somerset, NJ has just concluded a U.S. FDA inspection. The inspection commenced on September 10, 2020 and concluded on November 5, 2020. The duration of the inspection was prolonged due to COVID-related delays and challenges.

The inspection at the Somerset, NJ facility closed with thirteen observations. The company is confident of addressing these observations and will work closely with the agency to address their concerns.

The Company does not believe that this will have an impact on disruption of supplies or the existing revenues from operations of this facility. The facility contributes less than 5 percent of our global revenues.

Shares of LUPIN LTD. was last trading in BSE at Rs.916.4 as compared to the previous close of Rs. 935.95. The total number of shares traded during the day was 137345 in over 4587 trades.

The stock hit an intraday high of Rs. 944.8 and intraday low of 912.85. The net turnover during the day was Rs. 127029074.

Source : Equity Bulls

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