The company has launched its generic product after receiving the approval from the USFDA.
On May 16, S&P BSE Oil & Gas rose 1.5 percent, followed by the S&P BSE realty that gained 1.3 percent, and the S&P BSE Power that was up 1.3 percent
On the NSE, shares tanked 5.84 percent to Rs 736.40.
CLSA maintained its sell rating on Lupin post March quarter results but slashed its target price to Rs 700 from Rs 730 earlier.
Lupin was named as a defendant with respect to 11 generic drugs for alleged price manipulation.
The USFDA carried out the inspection at the plant from May 6 to May 15.
The company has been a key pharmaceutical player in the US and has demonstrated full commitment to compliance with all laws and ethical business practices, it added.
Narnolia expects EBITDA margin to decline by 171 bps YoY to 15.9 percent in Q4FY19 on account of increased remediation cost related to inspection in Somerset and Mandideep facilities.
A broken wing Iron Condor trade in Lupin ahead of its results
The USFDA issues an EIR to an establishment that is the subject of an FDA or FDA-contracted inspection following the closure of the inspection.
The company is setting up its pharma unit in Indore SEZ to manufacture pharmaceutical formulations metered dose inhalers and dry powder inhalers.
The company has received tentative approval from the USFDA to market its Fosaprepitant for injection in the strength of 150 mg single-dose vial.
Lupin Somerset is recalling the drug in various strengths due to "failed impurities/degradation specifications", the latest enforcement report by the USFDA said.
The approval by the United States Food and Drug Administration (USFDA) is for marketing Bosentan tablets in the strengths of 62.5 mg and 125 mg, Lupin said in a statement.
Jefferies said OAI status for Indore unit-II can delay clearance by 6-9 months and it is the 3rd facility to receive OAI in past 2 months
The Mumbai-based drugmaker, however, said it does not believe that the classification would have an impact on disruption of supplies or the existing revenues from operations of this facility.
In the past two and four years, Lupin has fallen 42 percent and 53 percent respectively, versus 33 percent and 38 percent gains in the BSE Sensex.
The company is setting up its pharma unit in Indore SEZ to manufacture pharmaceutical formulations - metered dose inhalers and dry powder inhalers.
The company has received approval from the US Food and Drug Administration to market its product which is a generic version of Eli Lilly and Company's Prozac tablets.
Net Sales are expected to increase by 2.1 percent Y-o-Y (down 7.2 percent Q-o-Q) to Rs. 4,061 crore, according to Prabhudas Lilladher.
Lupin's testosterone gel, 1.62 percent (20.25 mg/1.25 g pump actuation), is the generic equivalent of AbbVie Inc's AndroGel, 1.62 percent, Lupin said in a BSE filing.
The drug is indicated for replacement therapy in males for conditions associated with a deficiency or absence of endogenous testosterone.
The company has received approval from the United States Food and Drug Administration (USFDA) to market its generic testosterone gel, 1.62 per cent (20.25 mg/1.25 g pump actuation), Lupin said in a statement.