Lupin shares rise but pares gains soon; here's what moved stock in trade

Lupin shares rose 1.4 per cent in Thursday's trade on BSE, logging an intraday high of Rs 2,285.95 per share. The stock advanced after the company received Establishment Inspection Report (EIR) from the US Food and Drugs Administration (US FDA) for the company’s Pithampur unit-1 manufacturing facility that manufactures both Active Pharmaceutical Ingredients (APIs) and finished products. 

 

EIR is a document produced by regulatory authorities after AI conducting an inspection of a manufacturing facility. The EIR summarises the findings of the inspection, including any compliance issues or violations of regulations.

 

The EIR was issued with an inspection classification of Voluntary Action Indicated (VAI) post the inspection of the facility from September 16 to September 27, 2024. 

 

VAI indicates that while some deficiencies or issues were found during the inspection, they are not severe enough to warrant immediate regulatory enforcement actions like a warning letter or product recall.

 

“We are pleased to receive the EIR from the US FDA for our Pithampur Unit-1 facility with a satisfactory VAI classification. This reflects our commitment to the highest standards of quality and compliance," said Nilesh Gupta, managing director, Lupin. 

 

However, around 3:22 PM, Lupin share price pared gains and was marginally down 0.03 per cent at Rs 2,251.75 per share on BSE. In comparison, the BSE Sensex was down 0.63 per cent at 77,656.56. The market capitalisation of the company stood at Rs 1,02,732.61 crore. The 52-week high of the stock was at Rs 2,403.45 per share and the 52-week low was at Rs 1,367.45 per share. 

 

Lupin is a global pharmaceutical leader headquartered in Mumbai, India, with products distributed in over 100 markets. Lupin specialises in pharmaceutical products, including branded and generic formulations, complex generics, biotechnology products, and active pharmaceutical ingredients. Trusted by healthcare professionals and consumers globally, the company enjoys a strong position in India and the US across multiple therapy areas, including respiratory, cardiovascular, anti-diabetic, anti-infective, gastrointestinal, central nervous system, and women's health. 

 

Lupin has 15 manufacturing sites and 7 research centers globally, along with a dedicated workforce of over 22,000 professionals. The company is committed to improving patient health outcomes through its subsidiaries - Lupin Diagnostics, Lupin Digital Health, and Lupin Manufacturing Solutions. 

 

In the past one year, Lupin shares have gained 62.9 per cent against Sensex's rise of 9.5 per cent.