Shares of Lupin fell 2 percent intraday on January 13 after the US health regulator classified Tarapur facility of the company as Official Action Indicated (OAI).
The stock lost 10 percent in last one year. It was quoting at Rs 751.55, down Rs 7.45, or 0.98 percent on the BSE at 1030 hours IST.
The pharma major has received a communication from the US Food and Drug Administration classifying the inspection conducted at its Tarapur manufacturing (API) facility between September 16 to September 20,2019 as Official Action Indicated (OAI).
OAI means regulatory and/or administrative actions will be recommended.
The inspection at the Tarapur facility had closed with three observations.
"We do not believe that this inspection classification will have on impact on disruption of supplies or the existing revenues from operations of this facility," Lupin said in its BSE filing.
The company further said it was in the process of sending further updates of its corrective actions to the US FDA and was hopeful of a positive outcome.
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