Lupin jumps after Nagpur facility gets EIR from USFDA

Lupin surged 4.14% to Rs 820.40 after the company said its Nagpur facility received establishment inspection report (EIR) from the US drug regulator.

The inspection for the facility was carried out by the United States Food and Drug Administration (USFDA) between 6 and 10 January 2020, the drug maker said in an exchange filing made during market hours today (13 April 2020).

Commenting on the receipt of the EIR, Nilesh Gupta, managing director, Lupin said, "We are very happy to have received the EIR for our Nagpur facility, our largest and most advanced oral solid dosage facility. We remain committed to enhancing compliance and quality standards across all our manufacturing sites."

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 an innovation-led transnational pharmaceutical company. The company develops and commercializes a wide range of branded and generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) in over 100 markets across the world.

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