Lupin dips on USFDA observations on Goa facility

The stock dipped 7% to Rs 1,736 on the BSE in intra-day trade.

Lupin has dipped 7% to Rs 1,736 on the BSE in intra-day trade on media reports that the United States Food and Drug Administration (USFDA) cited nine observations in its inspection of the company's Goa facility last week.

“The USFDA inspected Lupin’s Goa facility last week and cited 9 observations. The observations are on aspects such as inadequacy and adherence to SOPs,” Lupin said on a clarification on news report.

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We are in the midst of putting together a response to address the USFDA’s observations, it added.

At 12:57 PM, the stock was down 6.3% at Rs 1,751 on the BSE. A combined 2.44 million shares changed hands on the counter on the BSE and NSE.