Lupin gains as Nagpur facility receives EIR

Lupin rose 1.44% to Rs 867.10 at 12:16 IST on BSE after the company's Nagpur facility received an Establishment Inspection Report from the US Food and Drug Administration.

The announcement was made during market hours today, 12 November 2018.

Meanwhile, the S&P BSE Sensex was down 66.93 points, or 0.19% to 35,091.62

On the BSE, 49,000 shares were traded in the counter so far compared with average daily volumes of 1.60 lakh shares in the past two weeks. The stock had hit a high of Rs 876 and a low of Rs 854.20 so far during the day.

Lupin announced the receipt of the Establishment Inspection report (EIR) post the completion of a Pre-Approval Inspection (PAI) for its Phenytoin Sodium Extended Release 100 mg capsules, carried out by the US FDA at its Nagpur facility in Maharashtra. The inspection conducted in September 2018 concluded without any observations.

Lupin's Nagpur facility is the company's latest site and manufactures Oral Solid Dosage products. The site also houses Lupin's state of the art injectable manufacturing facility.

Lupin's consolidated net profit fell 41.24% to Rs 268.45 crore on 3.78% rise in total income to Rs 4182.09 crore in Q2 September 2018 over Q2 September 2017.

Lupin is an innovation led transnational pharmaceutical company developing and delivering a wide range of branded & generic formulations, biotechnology products and APIs globally. The company is a significant player in the Cardiovascular, Diabetology, Asthma, Pediatric, CNS, GI, Anti-Infective and NSAID space and holds global leadership position in the Anti-TB segment.

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