Lupin gains as Goa facility clears US FDA inspection

Lupin rose 1% to Rs 1,154 at 09:25 IST on BSE after the company announced the successful completion of an inspection carried out by the US regulator at its Goa manufacturing facility.

The announcement was made after market hours on Friday, 21 July 2017.

Meanwhile, the S&P BSE Sensex was up 90.04 points or 0.28% at 32,118.93.

On the BSE, 30,000 shares were traded on the counter so far as against the average daily volumes of 1.54 lakh shares in the past one quarter. The stock had hit a high of Rs 1,174.85 and a low of Rs 1,152.20 so far during the day. The stock had hit a 52-week high of Rs 1,750 on 29 July 2016 and a 52-week low of Rs 1,036.80 on 5 July 2017.

The large-cap company has equity capital of Rs 90.34 crore. Face value per share is Rs 2.

Lupin announced the successful completion of a PAI inspection (Prior Approval Inspection) carried out by the United States Food and Drug Administration (USFDA) at its Goa manufacturing facility without any observations. The inspection which started on Monday, 17 July 2017 was concluded by afternoon Friday, 21 July 2017, Lupin said.

On consolidated basis, Lupin's net profit fell 49.16% to Rs 380.21 crore on 1.29% growth in net sales to Rs 4161.88 crore in Q4 March 2017 over Q4 March 2016.

Lupin is a transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.

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