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Last Updated : May 16, 2019 12:42 PM IST | Source: PTI

Lupin shares tank 6% after observations from USFDA for Aurangabad plant

On the NSE, shares tanked 5.84 percent to Rs 736.40.

Shares of Lupin Limited dropped 6 percent on May 16 after the company received three observations from the US health regulator for its Aurangabad-based manufacturing facility. The scrip declined 6 percent to Rs 736.10 on the BSE.

On the NSE, shares tanked 5.84 percent to Rs 736.40.

The US Food and Drug Administration (USFDA) carried out the inspection at the plant from May 6 to May 15, Lupin said in a statement on May 15.

"The inspection at the Aurangabad facility closed with three observations. The company is confident of addressing them satisfactorily," it added.

Lupin on May 15  posted consolidated profit after tax of Rs 296.37 crore for the fourth quarter of 2018-19 fiscal.

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First Published on May 16, 2019 12:30 pm
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