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
In February 2018, YL Biologics had announced completion of the global phase III study of their biosimilar Etanercept
'Official Action Indicated' means approvals of pending applications or supplements from this site maybe withheld
The company has slipped to being the seventh-largest pharma company in terms of market cap
The product is being recalled by Baltimore-based Lupin Pharmaceuticals Inc, a subsidiary of the company
Govt had in September 2018 banned 344 FDC drugs, including Lupin's combo for diabetics, citing lack of therapeutic justification
While the actual Dec quarter revenue was much more than estimates, the same was due to higher licensing income
The product is a generic version of AbbVie Inc's Synthroid tablets in the same strengths
The drug is manufactured by Novel Laboratories Inc for Baltimore-based Lupin Pharmaceuticals, Inc
The pharma major acquired a portfolio of central nervous drug system drugs, including NaMuscla, through its acquisition of German drug maker Temmler Pharma in 2015
Growth depends on key regulatory approvals
The drug maker will earn over $1 billion in fee, milestone payments, royalties from US firm
A total fine of 315 million Euros have been upheld on six companies.