The company's formulation manufacturing facilities at Goa and Indore (Pithampur Unit II) has received warning letter from USFDA.
Shares of Lupin touched 52-week low of Rs 890.10, slipping 15 percent intraday Tuesday as company has received warning letter from USFDA.
The company's formulation manufacturing facilities at Goa and Indore (Pithampur Unit II) has received warning letter from USFDA.
The company earlier had received 3 Form 483 observations in Goa on April 7, 2017 and 6 Form 483 observations in Pithampur (Unit II) on May 19, 2017.
The company had responded to all the observations.
"We are deeply disappointed to have received these outcome. While there will be no disruption of existing product supplies from either of these locations, there will be likely to be delay on new product approvals from these two facilities, company said in release.
We plan to address the concerns raised by the USFDA expeditiously and will work with USFDA to resolve these issues at the earliest, it added.
At 13:24 hrs Lupin was quoting at Rs 893, down Rs 141.70, or 13.69 percent on the BSE.
The stock has touched 4-year low of Rs 845.45 during intraday trade.
Posted by Rakesh Patil
