The United States Food & Drug Association (US FDA) has given a partial clean chit to Lupin ’s Goa plant. The pharma giant has received an Establishment Inspection Report (EIR) from the regulator stating that July 2015 inspection at the facility is now closed.
Of the total 18 observations, 9 from July 2015 and another 9 from March 2016 inspection, the former ones relating to equipment and warehousing have been closed. Nine observations are still outstanding for the company. However, closing of 9 observations is certainly positive for Lupin, says Abhishek Singhal of Macquarie Capital Securities. “Approvals for Lupin will start trickling in only post full resolution of all the 18 observations,” Singhal says. Macquaries continues to hold its outperform rating over a long-term period of 1-3 years. The target price for the stock is Rs 1800.
Of the total 18 observations, 9 from July 2015 and another 9 from March 2016 inspection, the former ones relating to equipment and warehousing have been closed. Nine observations are still outstanding for the company. However, closing of 9 observations is certainly positive for Lupin, says Abhishek Singhal of Macquarie Capital Securities. “Approvals for Lupin will start trickling in only post full resolution of all the 18 observations,” Singhal says. Macquaries continues to hold its outperform rating over a long-term period of 1-3 years. The target price for the stock is Rs 1800.
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