Lupin rose 3.94% to Rs 816.95 at 11:14 IST on BSE after the company said its Pithampur Unit 1 facility received establishment investigation report from the US drug regulator.
The announcement was made during trading hours today, 6 April 2018.Meanwhile, the S&P BSE Sensex was down 59.17 points, or 0.18% to 33,537.63.
On the BSE, 3.73 lakh shares were traded in the counter so far compared with average daily volumes of 1.10 lakh shares in the past two weeks. The stock had hit a high of Rs 842.45 and a low of Rs 785.80 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 that it has received the Establishment Investigation Report (EIR) from US Food and Drug Administration (USFDA) for the successful inspection of its Pithampur, Unit 1. The inspection was conducted in July 2017.
Commenting on the development, Lupin's managing director, Nilesh Gupta, said that the successful outcome of this inspection is encouraging, and further validates the company's commitment to meeting global manufacturing standards. Lupin is committed to upholding the highest levels of quality and compliance standards across all its facilities.
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.
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