Lupin back in the reckoning!

Yesterday, Lupin had hit a new low at Rs.920 and today it is up over Rs.18 higher from there at Rs.938 and this is after hitting an intra day high at Rs.950.

The stock is firmly in the green on news that that it has received an establishment inspection report (EIR – closure of inspection report)) from the US FDA for its Aurangabad facility in Maharashtra. This is the same unit where the FDA, in April this year had made eight Form 483 observations.

With this receipt of EIR, all outstanding US FDA inspections at Lupin’s Aurangabad facility now stand closed.

This is very good news as the Aurangabad unit contributes 10-15% of total USA sales.