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Warning Letter For Lupin Whats Next

Warning letter for Lupin whats next

Lupin, the country’s second-largest drug maker, on Tuesday said it got a combined warning letter from USFDA for manufacturing plants in Goa and Pithampur Unit II (Indore).The company had earlier received three Form 483 observations in Goa on April 7, 2017, and six Form 483 observations in Pithampur (Unit II) in Indore on May 19, 2017.

USFDA issues a warning letter if it finds a violation of good manufacturing practices by companies.

The US drug regulator had during the inspections pointed to inadequate quality control procedures and record-keeping practices.

 Lupin said it had responded to all the observations.
 Quality and compliance issues with utmost seriousness and remains fully committed to be compliant with cGMP quality standards across all our facilities.
 Lupin said they will plan to address the concerns raised by the USFDA expeditiously and will work with the USFDA to resolve these issues at the earliest
The company in the past too faced adverse observations from USFDA for its Goa plant.
Technical View
The monthly chart attached shows that stock failed to hold the support of a long-term rising trend line. Also, we find stock has broken below Fibonacci cluster signalling further weakness in price. RSI trading below 30 levels shows beers dominance on price. Stock price continues to trade below this support price can decline further to test 200 monthly EMA which is placed around 732-760 levels
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