Caplin Point Labs Share Price Rises As US FDA Closes Inspection With Zero 483 Observations

Caplin Point Laboratories Ltd.'s share price rose as the US Food and Drug Administration concluded an unexpected inspection at its Tamil Nadu facility with zero 483 violations. The American drug authority conducted the inspection at Caplin Steriles’ injectable and ophthalmic manufacturing facility located at Gummidipoondi.

The US FDA conducted the inspection from Aug 5–9 in 2024, the company said in the exchange filing. It gave Establishment Inspection Report with zero 483 observations. Form 483 observation indicates violation to FD&C act.

Caplin Steriles is a subsidiary, which is working on a portfolio of over 40 simple and complex injectable and ophthalmic products, which it needs to file over next four years.

Caplin Point Laboratories Ltd.'s share price rose 3.46% to Rs 2,594.95 apiece, the highest level since Jan 3. It was trading 2.03% higher at Rs 2,559.20 as of 10:38 a.m., as compared to 0.58% advance in the NSE Nifty 50 index.

Caplin Point Laboratories share price snapped a two-day decline. The stock rose 84.17% in 12 months. Total traded volume so far in the day stood at 0.62 times its 30-day average. The relative strength index was at 63.44.

Two analysts tracking the company maintain a 'buy' rating, according to Bloomberg data. The average 12-month consensus price target implies a downside of 8.6%.