Lupin rose 1.19% to Rs 1,624.65 after the company said that its API manufacturing facility located at Dabhasa, Gujarat has completed the United States Food and Drug Administration (USFDA) inspection with no observations.
The USFDA conducted a good manufacturing practices (GMP) inspection from 8 April 2024 to 12 April 2024.
Nilesh Gupta, managing director of Lupin said, This accomplishment underscores our unwavering dedication to maintaining the highest standards of quality and compliance in all aspects of our operations.
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 pharmaceutical company reported consolidated net profit of Rs 613.12 crore in Q3 FY24, steeply higher than Rs 153.47 crore posted in Q3 FY23. Revenue from operations increased 19.67% YoY to Rs 5,079.88 crore in the quarter ended 31 December 2023.
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