Lupin slips 5% as USFDA classifies Goa facility's inspection as OAI

The USFDA stated that Goa facility may be subject to regulatory or administrative action and that it may withhold approval of any pending applications or supplements in which this facility is listed.

Lupin shares slipped 5 per cent to Rs 722 in early morning trade on the BSE after the US health regulator classified the inspection of the company's Goa facility as Official Action Indicated (OAI). The stock was trading close to its 52-week low of Rs 720, touched on March 28, 2019, in intra-day deal.

“The Company has received a communication from the US Food and Drug Administration (USFDA) classifying the inspection conducted at its Goa facility between January 28 and February 8, 2019 as OAI,” Lupin said in a BSE filing.

The US FDA has stated that this facility