Lupin tumbles on media reports of USFDA inspection at its Goa facility

Lupin lost 4.84% to Rs 1,778.05 at 9:58 IST on BSE on media reports that the United States Food and Drug Administration cited nine observations in its inspection of the company's Goa facility last week.

Meanwhile, the S&P BSE Sensex was down 61.30 points or 0.25% at 24,742.98.

On BSE, so far 1.57 lakh shares were traded in the counter as against average daily volume of 11.40 lakh shares in the past two weeks. The stock hit a high of Rs 1,800 and a low of Rs 1,736.50 so far during the day. The stock had hit a 52-week low of Rs 1,589.40 on 14 May 2015. The stock had hit a record high of Rs 2,127 on 6 October 2015.

The large-cap company has equity capital of Rs 90.11 crore. Face value per share is Rs 2.

As per media reports, the United States Food and Drug Administration's (USFDA) observations in its inspection of Lupin's Goa facility were on aspects such as inadequacy & adherence to standard operating procedures (SOP).

On consolidated basis, Lupin's net profit fell 11.9% to Rs 529.75 crore on 6.8% growth in net sales to Rs 3357.66 crore in Q3 December 2015 over Q3 December 2014.

Lupin is a pharmaceutical company producing and developing a wide range of branded & generic formulations, biotechnology products and APIs globally. The company is a significant player in the cardiovascular, diabetology, asthma, pediatric, CNS, GI, anti-infective and NSAID space and holds global leadership positions in the anti-TB and cephalosporin segment.

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