Lupin dips post inspection of Pithampur plant

Lupin announced that its Pithampur unit-3 in Indore went through the USFDA inspection that was conducted from October 8 to October 18, 2018. The shares closed down by almost 2  per cent. 

The USFDA has issued five observations after the inspection. It was a good management practice (GMP) inspection for the facility and also a Pre-Approval Inspection (PAI) for the company’s Titropium DPI ANDA (abbreviated new drug application). 

The shares of Lupin on Friday opened at Rs 888 per share as against a previous close of Rs 896.65 on Wednesday. The shares reached an intraday high of Rs 905.25 and an intraday low of Rs 859.20 per share on the BSE. The 52-week high was Rs. 1,090 and 52-week low was Rs 723.55 per share. 

Lupin is pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APIs globally. The company is a significant player in the Cardiovascular, Diabetology, Asthma, Pediatric, CNS, GI, Anti-Infective and NSAID space and holds global leadership position in the Anti TB segment. 

For the financial year ended March 2018, Lupin’s consolidated sales and net profits before exceptional items were at Rs. 1,55,598 million and Rs. 13,934 million, respectively. 
The benchmark Indian indices, BSE Sensex closed at 463 points lower or 1.33 per cent and Nifty50 closed at 10,303.55 level, down by 1.42 per cent or 149.50 points.