Lupin shares jump nearly 5 pc on EIR from USFDA for Nagpur plant

Shares of Lupin jumped nearly 5 per cent on Monday after the company said it has received an Establishment Inspection Report (EIR) from the US health regulator for its manufacturing plant in Nagpur.

The company's scrip climbed 4.85 per cent to close at Rs 825.95 on the BSE. During the day, it advanced 7.72 per cent to Rs 848.60.

At the NSE, it jumped 4.54 per cent to close at Rs 826.05.

In terms of volume, 5.14 lakh shares of the company were traded on the BSE, while over 1 crore shares changed hands on NSE during the day.

The US Food and Drug Administration (USFDA) issues an EIR to a company when an inspection is satisfactorily closed.

The health regulator had inspected the company's Nagpur manufacturing facility between January 6 and January 10, 2020, Lupin said in a statement.

"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," Lupin Managing Director Nilesh Gupta said.