Lupin tumbles 1% on drug recall news
Shares of drug major Lupin tumbled 1 percent intraday Thursday as the company is recalling its drug from the US markets.
The company is recalling a single lot of Pravastatin Sodium USP tablets in the US, according to the US Food and Drug Administration (USFDA).
As per the information on the USFDA site, Lupin is voluntarily recalling the product due to “a pharmacy complaint where one Duloxetine delayed-release capsule, 30mg was found in a Pravastatin Sodium Tablets USP, 40mg bottle”.
The US health regulator, however, did not give details on the number of bottles being recalled.
Earlier in this month, the USFDA has issued a warning letter to the company for violation of current good manufacturing practice norms at two of its manufacturing facilities in Goa and Indore.
At 09:54 hrs Lupin was quoting at Rs 829.70, down Rs 4.65, or 0.56 percent on the BSE.
The share touched its 52-week high Rs 1,572.25 and 52-week low Rs 818.55 on 06 February, 2017 and 15 November, 2017, respectively.
Currently, it is trading 47.23 percent below its 52-week high and 1.36 percent above its 52-week low.
With inputs from PTI