Lupin rose 1.11% to Rs 1,577 after the company announced that it has received an Establishment Inspection Report (EIR) from the United States Food and Drug Administration (USFDA) for its manufacturing facility in Somerset at New Jersey.
The said report classified under Voluntary Action Indicated (VAI) status. The facility was inspected from 7 May to 17 May 2024.Nilesh Gupta, managing director, Lupin, said, We are very pleased to have received the EIR with a satisfactory VAI status for our Somerset facility. This is a significant milestone in building our reputation of being best-in-class in Quality and Compliance.
Mumbai-based Lupin is an innovation-led transnational pharmaceutical company. It 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 the Asia Pacific (APAC), Latin America (LATAM), Europe, and Middle East regions.
The companys consolidated net profit tumbled 41.38% to Rs 359.43 crore on 3.64% decline in revenue from operations to Rs 4,895.11 crore in Q4 FY24 over Q4 FY23.
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