Lupin jumps after Aurangabad facility gets EIR form USFDA

Lupin gained 2.73% to Rs 595 after the drug major said its Aurangabad facility received establishment inspection report from the US drug regulator.

Pharma major Lupin on 3 April 2020 announced the receipt of the Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA) for its Aurangabad, India facility. The inspection for the facility was carried out by the USFDA between 10 and 14 February 2020 and concluded with no observations.

Commenting on the same, Nilesh Gupta, the managing director of Lupin, has stated that, "We are delighted with the receipt of the EIR for Aurangabad classifying the inspection as No Action Indicated. This takes us a step forward in our efforts of enhancing our compliance and quality standards across all our manufacturing sites. We continue to work with the U.S. FDA to continuously improve our quality and compliance while providing important medicines to the U.S. market."

On a consolidated basis, Lupin reported a net loss of Rs 835 crore in Q3 December 2019 as against a net loss of Rs 151.75 crore in Q3 December 2018. Net sales declined 2.75% to Rs 3,716.09 crore in Q3 December 2019 over Q3 December 2018.

Lupin is engaged in producing, developing and marketing a range of branded and generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) across the world. The firm offers products in the cardiovascular, diabetology, asthma, pediatrics, central nervous system, gastro-intestinal, anti-infectives and non-steroidal anti-inflammatory drug therapy areas.

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