 "An employee of Lupin Limited works at a reception at their headquarters in Mumbai")
Lupin was among the five worst-performing mid-cap pharma stocks globally in 2017, according to a report by Evaluate — an UK-based market intelligence firm. The drug major’s stock price fell 40 per cent and its market capitalisation declined $3.9 billion to $6.1 billion in 2017.
US Food and Drug Administration’s warning letters to two Lupin plants in Goa and Indore in November was the main reason for the decline in the stock price, analysts said. The company’s share price tanked 20 per cent in November.
Other major losers include Tesaro, Hikma Pharmaceuticals, Opko Health, and Mallinckrodt. Their share prices dropped
