Lupin slips 6% after USFDA classifies Somerset facility as OAI

The facility may be subject to regulatory or administrative action and the US FDA may withhold approval of any pending applications or supplements in which this facility is listed

Shares of Lupin slipped 6 per cent to Rs 741 on the BSE in early morning trade in an otherwise strong market after the drug maker's Somerset facility was classified as Official Action Indicated (OAI) by the US health regulator. It was trading close to its 52-week low price of Rs 724 on May 15, 2018 in intra-day deal.

The company's subsidiary Novel Laboratories Inc has received a letter from the US Food and Drug Administration (USFDA) classifying the inspection conducted at its Somerset (New Jersey) facility in December 2018, as Official Action Indicated (OAI), Lupin said in a regulatory