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Fresh US Food and Drug Administration (FDA)'s observations on Lupin's Goa facility have added to concerns on the company's US business growth. Given that the facility accounts for 20-25 per cent of overall sales and 40-50 per cent of US sales, the concerns look justified. The stock, which has significantly underperformed markets, is down eight per cent over the last three trading sessions. It touched its 52-week lows of Rs 1,261 on Wednesday.
The Goa plant got an Establishment Inspection Report (EIR) from FDA six months back. An EIR indicates end of inspection without any observations. After that, approvals for launches
