Lupin struck by "USFDA" virus!

Lupin is amongst the top losers on the bourses currently, going down intra day to a low of Rs.1`736.50. It continues to remain firmly in the red.

The stock is down on news reports that the US FDA had inspected its Goa plant, which ended on 11th March. Post this, the FDA is stated to have given some 8 to 9 observations. These observations were pertaining to inadequacy and adherence to standard operating procedures.

The stock exchanges have sought an clarification and reply is awaited. The company is stated to be putting together a response to US FDA.

Last year, in July, The FDA had served the very same plant with Form 483 and that time too, there were 9 observations relating to manufacturing process and quality control.

Lupin has 15 days to respond to the observations before any further action is taken by the USFDA.

The Goa plant supplies drugs to markets in US, Europe and Japan.