On June 26, Ipca Laboratories’ share price slipped 4% in the early morning trade after the US drug regulator dispensed Form 483 on its Pithampur formulations facility with eight observations.

Ipca Laboratories mentioned the US Food and Drug Administration (USFDA) processed the inspection of the Madhya Pradesh unit during June 15-June 23.
The company will submit an inclusive response to these observations to the USFDA within a specified time and work closely with the regulator to resolve these issues at the earliest, Ipca Laboratories mentioned.

On June 14, the USFDA issued a Form 483 with 11 observations to the company’s APIs industrial facility at Ratlam, Madhya Pradesh.
The income tax section conducted survey minutes at the business’s offices in Mumbai and at Sikkim manufacturing units between May 30, 2023, to June 03, 2023.

At 09:28 am, Ipca Laboratories was trading at Rs 716.90, fell Rs 9.85, or 1.36% on the BSE.
The share moved a 52-week high of Rs 1,033.50 and a 52-week low of Rs 670 on August 05, 2022, and May 22, 2023, separately. It is trading 30.63% below its 52-week high and 7% above its 52-week low.