U.S. FDA inspection of the Company's Somerset, New Jersey, USA facility

The U.S. FDA has concluded an inspection at the Company's wholly owned subsidiary Novel Laboratories, Inc., based in Somerset, NJ. The inspection commenced on March 7, 2020 and concluded on March 30, 2022.

The inspection closed with thirteen observations. We are confident of addressing these observations and will work closely with the Agency to address their concerns. We uphold quality and compliance with utmost importance and are committed to be compliant with Good Manufacturing Practice standards across all our facilities.

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 the Company's global revenues.

Shares of Lupin Limited was last trading in BSE at Rs. 746.05 as compared to the previous close of Rs. 749.55. The total number of shares traded during the day was 61572 in over 3334 trades.

The stock hit an intraday high of Rs. 752.55 and intraday low of 738.60. The net turnover during the day was Rs. 45871501.00.

Source : Equity Bulls

Keywords

Lupin INE326A01037 Inspection USFDA NovelLaboratories Somerset NJ