On the corporate earnings front, Bharti Airtel, Lupin, Sun Pharma, and Mahindra & Mahindra are among the major companies scheduled to declare their October-December results this week
Official Action Indicated means 'objectionable conditions were found and regulatory administrative sanctions by FDA are indicated' during inspections
The company, however, said it does not believe that this inspection classification will have an impact on disruption of supplies or the existing revenues from operations of this facility.
Stock calls and Outlook on Nifty by Mr. Sameet Chavan, Chief Analyst- Technical & Derivatives, Angel Broking Ltd.
Dr Reddy's was in the news for falling short of expectations during routine audits conducted by the US drug regulator
The company had earlier received approval for the product from the United States Food and Drug Administration
Stock calls and Outlook on Nifty by Mr. Sameet Chavan, Chief Analyst- Technical & Derivatives, Angel Broking Ltd.
Lupin, the largest player in India's anti-TB market, too admitted that in anti-TB segment, the focus on branded business has declined in the past few years
A strong product pipeline and growth in India and emerging markets are positives, but regulatory hurdles, delayed drug approvals in the US could hurt prospects
We were into APIs in the US and we started finished products, said Nilesh D Gupta
Besides captive consumption, the company also supplies APIs to external customers across international markets
The drug, cefdinir for oral suspension, has been manufactured by Lupin's Mandideep manufacturing facility in central India
Lupin said in a regulatory filing that the US health regulator had made two observations following the inspection and had classified the inspection as Official Action Indicated
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.
Analysts remain neutral on the stock given limited growth visibility in US, regulatory and lawsuit overhangs
Drug firm Lupin Tuesday said it has received four observations in the establishment inspection report (EIR) given by the US health regulator following the closure of pharmacovigilance inspection. "The inspection included a comprehensive scrutiny of practices and procedures for reporting of adverse events of Lupin's marketed products worldwide. The inspection closed with four observations," the company said in a regulatory filing. Lupin has received the EIR from the United States Food and Drug Administration (USFDA) for the post-marketing adverse drug experience (PADE) inspection, indicating successful closure of the inspection, the filing added. The inspection was conducted at its global pharmacovigilance group DSRM (Drug Safety & Risk Management) based out of Mumbai between January 14-18, 2019, Lupin said. The USFDA issues an EIR to an establishment that is the subject of an FDA or FDA-contracted inspection following the closure of the inspection. Shares of Lupin Ltd were trading
The company is setting up its pharma unit in Indore SEZ to manufacture pharmaceutical formulations metered dose inhalers and dry powder inhalers
The Mumbai-based drug maker, however, said it does not believe that the classification would have an impact on disruption of supplies or the existing revenues from operations of this facility
The company's product is a generic version of AbbVie Inc's AndroGel 1.62 per cent, it added.
The product was manufactured by Lupin Ltd at its Pithampur facility in Madhya Pradesh