Lupin jumped 6.78% to Rs 944 after the drug maker received the Establishment Inspection Report (EIR) from United States Food and Drug Administration (USFDA) for its Goa manufacturing facility.
The inspection was conducted in September 2021. The USFDA determined that the inspection classification of the facility is Voluntary Action Indicated (VAI).Commenting on the development, Nilesh Gupta, Managing Director, Lupin said This is a very positive development and we are delighted with the news of the change in classification of our Goa site. The Goa site has a very important place in the U.S. market with the number of affordable, quality medicines we supply, and we now look forward to new products flowing out of the site again. We remain committed to meet and exceed global standards of quality and compliance at all our manufacturing facilities globally.
Vinita Gupta, CEO of Lupin said, We are very happy to have received the EIR from US FDA with Voluntary Action Indicated classification for our Goa plant. This is a significant milestone as we build back our reputation of being best-in-class in Quality and Compliance. We are committed to manufacture and supply products of the highest quality from 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 Asia Pacific (APAC), Latin America (LATAM), Europe and Middle-East regions.
The company eported a consolidated net loss of Rs 2,094.87 crore in Q2 FY22 as against net profit of Rs 213.51 crore in Q2 FY21. On a consolidated basis, net sales rose 5.9% to Rs 4,003.42 crore in Q2 FY22 over Q2 FY21.
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