Lupin spurts as Gujarat facility gets EIR from USFDA

Lupin gained 5.14% to Rs 714.55 after the pharma major announced that it has received the Establishment Inspection Report (EIR) from United States Food and Drug Administration (USFDA) for its Ankleshwar manufacturing facility, located in Gujarat.

The inspection at the Ankleshwar facility was conducted from 16 August 2022 to 19 August 2022.

Nilesh Gupta, managing director of Lupin said, We are very happy to have received the EIR for our Ankleshwar facility from USFDA. We remain committed to enhancing compliance and quality standards across all our manufacturing sites.

Lupin is an innovation-led transnational pharmaceutical company. The company develops and commercializes a wide range of branded and generic formulations, biotechnology products, and APIs in over 100 markets in the U.S., India, South Africa, and across the Asia Pacific (APAC), Latin America (LATAM), Europe, and Middle East regions.

The drug maker reported a net loss of Rs 89.1 crore in Q1 FY23 as against a net profit of Rs 542.5 crore in Q1 FY22. Total revenue from operations declined 12.3% YoY to Rs 3,743.8 crore during the quarter.

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