Lupin Ltd jumps after USFDA clears Aurangabad facility

The share price of Lupin Ltd, an Indian pharmaceutical company, rose today after the company announced that it has received an EIR from USFDA for its Aurangabad facility.

In a BSE filing released on Friday during the market hours, the company informed that they have received an establishment inspection report (EIR) from US Food & Drug Administration (USFDA). Lupin added that the inspection was carried out from February 10 to 24 at its Aurangabad facility that concluded with no observations.

Managing Director of Lupin, Nilesh Gupta remarked on this by saying that the company maintains quality standard across all its manufacturing sites and is delighted to receive a receipt of EIR for Aurangabad facility inspection as no action indicated.

Lupin Ltd is a multinational pharmaceutical company based in Mumbai (Maharashtra). It is the twelfth-largest company by market capitalisation and the eighth-largest generic pharmaceutical company by revenue globally.

At the time of market closing on Friday, the stock of Lupin Ltd was trading at Rs 654.80, up by 13.05 per cent against its previous close of Rs 579.20. Its 52-week high is recorded at Rs 882.15 while, its 52-week low is Rs 505.00 on BSE.