Shares of Lupin fell as much as 7.7 per cent to its lowest since August 8, 2014.
At about 10.20 am, the stock was down 5.75 per cent or Rs 70.65 at Rs 1,157 on the BSE.
The pharma company posted a 49 per cent fall in consolidated net profit for the March quarter, missing analysts' estimates.
Lupin also said that it expects more pricing pressure in the United States and was currently seeing price erosion in the high single digits.
“US business will continue to see pressure in FY18 and growth will be a challenge led by increased competition in key products and elevated pricing pressure,” analysts at Jefferies said in their report.
The stock has falled 17.4 per cent this year as of Wednesday's close.