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Drugmaker Lupin Ltd's shares fall as much as 5.7 per cent to ₹720, lowest since March 28. The stock was among top drags on Nifty Pharma index, which is down 0.8 per cent.
The stocks of Lupin ended lower by 2.49 per cent at ₹743.95.
US FDA's inspection of the company’s Goa facility concludes with two observations; FDA classifies inspection as official action indicated (OAI). According to OAI classification, US drug regulator says facility may be subject to regulatory or administrative action, FDA may withhold approval of any pending applications or supplements in which this facility is listed.
Plants of rivals Aurobindo Pharma, Alkem Laboratories, Indoco Remedies and Strides Pharma Science have also been classified as OAI by FDA in the last 30 days. The company says it does not believe inspection result will have an impact supplies or existing revenues from facility.
The Shares fell nearly 10 per cent this year as of last close.
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