Lupin is planning to address the concerns raised by the US FDA following receipt of US FDA warning letters at its Goa and Indore formulation manufacturing facilities. Subsequent to which shares of Lupin touched 52-week low of Rs. 890.10, slipping 15 per cent intraday.
The company earlier had received 3 Form 483 observations in Goa on April 7, 2017 and 6 Form 483 observations in Pithampur (Unit II) on May 19, 2017. The company had responded to all the observations.
"We are deeply disappointed to have received these outcome. While there will be no disruption of existing product supplies from either of these locations, there will be likely to be delay on new product approvals from these two facilities,” company said in release.
Lupin was quoting at Rs. 893, down Rs. 141.70, or 13.69 per cent on the BSE.
Lupin to address concerns raised, us fda, warning letters, goa, indore plants
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