Cipla sheds 6% after USFDA issues Form 483 to Pithampur plant

Cipla

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26 Aug, 2025 12:21

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Cipla shares fell more than 6 percent in the early trade on February 20 after the company received the Form 483 from the United States Food and Drug Administration (USFDA).

At 9:16am, Cipla was quoting at Rs 961.30, down Rs 64.50, or 6.29 percent, on the BSE.

The USFDA conducted a current Good Manufacturing Practices (cGMP) inspection at our Pithampur manufacturing facility from February 6–17, 2023, Cipla said in its press release.

On conclusion of the inspection, the company has received eight inspectional observations in Form 483.

The company will work closely with the USFDA and is committed to address these comprehensively within stipulated time, Cipla said.

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Here is brokerages view about stock and the company:

Macquarie has kept Cipla an 'outperform' rating with a target of Rs 1,235 per share. The Pithampur plant manufactures respiratory products such as Proventil, Brovana, and Pulmicort, as well as pipeline products such as Advair.

It is estimated that the Indore plant's contribution to company's FY23 consolidated EBITDA will be more than 15 percent and around 5 percent of the consolidated revenue.

JPMorgan has given Cipla an 'overweight' rating with a target of Rs 1,210 per share. The company has not commented on the nature of 8 observations received from USFDA for Pithampur plant.

The said plant is one of Cipla's key manufacturing facilities, along with the Goa and Invagen plant in the US. Advair, one of Cipla's complex launches, is filed from the Pithampur plant.

JPMorgan will be closely monitoring any potential impact on launch timelines, However, forecasted the Advair launch in 1QFY24, and it is expected to contribute 5-6 percent to overall EPS in FY24/25.

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