India's Cipla drops as US FDA urges action at key tumour drug supplier's facility

India's Cipla CIPL.NS drops ~2% to 1,320 rupees, top loser on pharma index .NIPHARM, which is up 0.4%

U.S. FDA concluded inspection at a facility of Pharmathen, Cipla's exclusive contract manufacturer for its key tumour therapy Lanreotide, indicating it as "official action indicated"

Classification means regulatory or administrative actions are recommended - regulator's website

Greece-based Pharmathen had temporarily paused production in Q3 to work through FDA remediation requirements, resulting in CIPL missing results estimates

Avg rating on CIPL at "hold"; median PT is 1,445 rupees - data compiled by LSEG

YTD, stock down 12.2% vs pharma index's 0.8% drop