Cipla Shares Plunge 5% as US FDA Flags Partner Pharmathen's Lapses

• Cipla's share price dropped 5% today due to US FDA objections against its partner, Pharmathen.
• Pharmathen, a partner for Lanreotide drug, faced FDA scrutiny over contamination prevention and control system deficiencies.
• FDA cited issues in Pharmathen's Aseptic processing area, incomplete lab controls, and failure to prove drug purity/quality.
• The company's buildings for drug manufacturing were also found to be in poor condition, with sampling and test procedures not followed.
• Cipla's stock traded around ₹1460, showing a 2% decline over 1 year but a 36.30% rise over 3 years.

Why It Matters: Cipla's stock fell sharply after US FDA raised serious concerns about its drug manufacturing partner Pharmathen.