Lupin slips 4% as Goa plant gets 7 observations from the USFDA

These observations which has been under regulatory oversight for 4 years, and can impact investor sentiment although revenue will not be impacted in the near term, ICICI Securities note stated

Shares of Lupin dipped 4 per cent to Rs 913 on the BSE in intra-day trade on Monday after the pharmaceutical company said on Sunday that its Goa facility has received seven observations from the US drug regulator. The Goa plant was inspected in March 2017 and received a warning letter for the facility from the US Food and Drug Administration (USFDA). The stock had hit a 52-week low of Rs 856 on 10 November, 2020.

“The USFDA has concluded an inspection at our Goa facility in India. The inspection was carried out from September 6, 2021 to September