Lupin’s Goa plant receives adverse FDA observations

Lupin stock fell 2.5 per cent on Thursday on media reports of the US Food and Drug Administration (FDA) issuing adverse observations on its Goa plant. The plant remains crucial for Lupin as 50-60 per cent of supplies to the US are from this facility. The FDA issues observations known as Form 483 when it detects violations of good manufacturing practices. Lupin did not comment on the reports which said that company failed to review unexplained discrepancies and lack of procedures for production and process control. In the past, the unit was inspected in July 2015 and February 2016. The July 2015’s Form 483 was cleared in July 2016 and the latter in November 2016. The stock closed at ~ 1,337.25 on Thursday.