Shares of Lupin Ltd were trading in the red and 1.75% lower on 30 September after the company announced that its Pithampur facility in Madhya Pradesh had received 3 observations from the US Food and Drug Administration (USFDA).

The US regulator conducted an inspection at the company’s Pithampur facility in Madhya Pradesh, which houses the unit-1 API and finished product manufacturing site, between 16 September and 27 September. 

Tree observations about the finished product and API were made at the end of the inspection. 

The pharmaceuticals major is addressing these observations in full and will reply to the USFDA in the stipulated period.

Lupin, a Mumbai-based pharmaceutical company, is innovation-driven and operates across multiple global markets. It develops and commercializes a diverse portfolio of branded and generic formulations, biotechnology products, and active pharmaceutical ingredients (APIs). 

With a presence in over 100 markets, Lupin serves key regions such as the U.S., India, South Africa, Asia-Pacific (APAC), Latin America (LATAM), Europe, and the Middle East. The company’s broad product range and global reach solidify its standing in the pharmaceutical industry.

In its quarterly earnings for April-June, the company reported a 76.01% year-on-year increase in consolidated net profit to Rs 801.31 crore compared to Rs 452.26 crore reported in the same quarter last year. During the quarter, revenue from operations climbed 16.28% YoY to Rs 5,514.34 crore.

At 1:47 pm, the shares of Lupin were trading 0.91% lower at Rs 2,198.20 on NSE. 

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