Lupin's Tarapur unit receives warning from USFDA; stock dips ~1.5%

29 Sep 2022 , 12:37 PM

Lupin Limited received a warning letter from USFDA for its Tarapur, Maharashtra (India) facility. The Lupin Tarapur facility was examined by the USFDA from March 22, 2022, to April 4, 2022.

Following this development, Lupin’s counter sank 1.72% at Rs658.70, against the previous close of Rs670.20 on NSE. So far, the counter touched intraday high and low of Rs674.10 and Rs651.60 respectively.

The company believes that the warning letter will have no effect on supply disruptions or current revenues from this facility’s operations.

“We are dedicated to resolving the FDA’s concerns and will collaborate with the FDA to fix these issues as soon as possible. We prioritize quality and compliance concerns and are dedicated to meeting CGMP quality requirements across all of our operations,” said Lupin in its regulatory filing.

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