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Lupine’s share price fell after the United States Food and Drug Administration (USFDA) issued 3 observations for its Madhya Pradesh-based Pithampur-1 unit.
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In an exchange filing, Lupine said: “We would like to inform you that USFDA has inspected Lupin’s Pithampur Unit 1 API and Finished Goods Manufacturing Facility from September 16 to 27, 2024. The inspection concluded with three observations each on the API and finished product side.
USFDA inspected the site between September 16 and 27, 2024.
Lupine further stated that the company is treating the comments comprehensively and will respond to the USFDA within the stipulated time frame.
Financial performance of Lupine
Lupine reported a 77.2% year-on-year (YoY) increase in profit after tax (PAT) during the June quarter of financial year 2025 (Q1FY25) at Rs 801 crore. Lupine’s operating revenue grew 16.2% year-on-year to Rs 5,514.3 crore.
On a sequential basis, the company’s PAT grew 122.9 percent while revenue climbed 12.6 percent.
Lupine stock price history
Lupine stock has soared more than 65 percent this year, while it gained more than 85 percent last year. However, the stock price has fallen about 2 percent over the past month and about 0.7 percent over the past five days.
Lupine background
Lupine Limited is a leading pharmaceutical company founded in 1968 by Desh Bandhu Gupta in India.
Initially with a single manufacturing plant in Aurangabad, the company has since expanded to 11 plants across India and now operates in over 100 markets globally, including the United States, South Africa and in Europe.
Lupine has established itself as one of the largest generic pharmaceutical companies by revenue, specializing in a diverse range of products such as generic and branded formulations, biotechnology products and active pharmaceutical ingredients (APIs). .
Lupine is also recognized as a global leader in the anti-tuberculosis and cephalosporin segments, with significant contributions in the areas of cardiovascular health, diabetology, asthma, pediatrics and central nervous system disorders.
The company prioritizes research and development and operates two state-of-the-art research centers in Pune and Aurangabad. These facilities focus on using cutting-edge technologies to innovate and develop new pharmaceutical products, ensuring that Lupine remains at the forefront of the industry.
At 10:38 am, shares of Lupine were trading down 1.63 per cent at Rs 2,185.35 per share. In comparison, BSE Sensex was trading 0.79 percent lower at 84,895.65 levels.
First publication: September 30, 2024 | 10:41 a.m. STI