Shares in Lupin lose 18% following US FDA warning

8 November 2017

Indian pharma major Lupin (BSE: 500257) has suffered a major drop in share price after the US Food and Drug Administration issued the firm with a warning letter related to two of its manufacturing sites.

The warning letter, which cites apparent violations of good manufacturing practice (GMP) at the firm’s Goa and Indore units, comes after Lupin was put on notice about quality lapses earlier in the year.

While the company said in a stock exchange filing that it had responded to those issues, the letter indicates the FDA was not satisfied with the response.

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