Lupin rebounds after USFDA clears Aurangabad facility

Lupin gained 1.8% to Rs 939.45 at 9:55 IST on BSE after the company announced that it has received Establishment Inspection Report from the US drug regulator for April 2017 inspection carried out of Aurangabad facility.

The announcement was made after market hours yesterday, 21 August 2017.

Meanwhile, the S&P BSE Sensex was up 92.98 points, or 0.3% to 31,366.84.

On the BSE, 49,065 shares were traded in the counter so far, compared with average daily volumes of 2.01 lakh shares in the past one quarter. The stock had hit a high of Rs 950.55 and a low of Rs 936 so far during the day. The stock had hit a 52-week high of Rs 1,599 on 19 August 2016. The stock had hit a 52-week low of Rs 920 yesterday, 21 August 2017.

The stock had declined 4.63% in four sessions to settle at Rs 922.80 on 21 August 2017 from a close of Rs 967.60 on 14 August 2017.

The stock had underperformed the market over the past one month till 21 August 2017, falling 19.25% compared with 2.4% decline in the Sensex. The scrip had also underperformed the market in past one quarter, declining 29.82% as against Sensex's 2.61% rise. The scrip had also underperformed the market in past one year, dropping 41.49% as against Sensex's 11.33% rise.

The large-cap company has equity capital of Rs 90.35 crore. Face value per share is Rs 2.

Lupin announced that it has received notification that the inspection carried out by the United States Food & Drug Administration (USFDA) in April 2017 at its Aurangabad facility is now closed and the agency has issued an Establishment Inspection Report (EIR). This closes all outstanding USFDA inspections at Lupin's Aurangabad facility.

Lupin's consolidated net profit fell 59.4% to Rs 358.06 crore on 12.3% decline in net sales to Rs 3806.83 crore in Q1 June 2017 over Q1 June 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.

Powered by Capital Market - Live News