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Lupin declines on recalling 17,814 bottles of Cefprozil in US market

Lupin is currently trading at Rs. 1063.05, down by 15.95 points or 1.48% from its previous closing of Rs. 1079.00 on the BSE.

The scrip opened at Rs. 1073.00 and has touched a high and low of Rs. 1080.60 and Rs. 1057.05 respectively. So far 89449 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 2 has touched a 52 week high of Rs. 1121.85 on 18-Sep-2020 and a 52 week low of Rs. 808.50 on 07-May-2020.

Last one week high and low of the scrip stood at Rs. 1106.35 and Rs. 1030.00 respectively. The current market cap of the company is Rs. 48264.76 crore.

The promoters holding in the company stood at 46.86%, while Institutions and Non-Institutions held 40.46% and 12.69% respectively.

Lupin is recalling 17,814 bottles of Cefprozil for Oral Suspension USP, a second-generation antibiotic used to treat ear infections, skin infections, and other bacterial infections in US market. According to the USFDA, the company is recalling the affected lot for being ‘Superpotent’.

The affected lot has been manufactured at Lupin’s Mandideep plant in Madhya Pradesh and distributed in the US by Baltimore-based Lupin Pharmaceuticals Inc. Lupin initiated the Class II voluntary recall across the US and Puerto Rico on March 26 this year.

Lupin is an innovation-led transnational pharmaceutical company headquartered in Mumbai, India.

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