Lupin rises after UK MHRA completes inspection at Goa unit

Lupin rose 1.62% to Rs 788 at 11:09 IST on BSE after the UK drug regulator successfully completed its inspection of the company's Goa facility with no critical or major observations.

The announcement was made during trading hours today, 3 April 2018.

Meanwhile, the S&P BSE Sensex was down 94.80 points, or 0.29% to 33,160.56.

On the BSE, 78,000 shares were traded in the counter so far compared with average daily volumes of 1.01 lakh shares in the past two weeks. The stock had hit a high of Rs 798.10 and a low of Rs 766.65 so far during the day. The stock hit a 52-week high of Rs 1,465 on 7 April 2017. The stock hit a 52-week low of Rs 727.05 on 26 March 2018.

Lupin announced the successful completion of the inspection by the UK's Medicines and Healthcare Products Regulatory Agency (MHRA) at its Goa facility in March 2018. There were no critical or major observations in the inspection.

Responding to the positive outcome, Nilesh Gupta, managing director, Lupin said the company is committed to maintaining truly global quality standards at its manufacturing units. The successful inspection by UK MHRA is a meaningful development for Goa plant.

Lupin's consolidated net profit fell 64.98% to Rs 221.73 crore on 11.45% decline in net sales to Rs 3900.36 crore in Q3 December 2017 over Q3 December 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