Lupin has good news, stock falls!

Today afternoon, Lupin announced that it has received Establishment Inspection Report (EIR) for its Pithampur (Unit 3) facility.

The inspection at the site was conducted between June 12,2017 and June 16,2017.

This was a Pre-approval inspection for Albuterol Sulfate Inhalation product. Lupin's Pithampur (Unit 3) facility manufactures Dermatological Products, Dry Product Inhalers and Metered Dose Inhalers.

This is actually good news but the market being in the mood that it is in currently, ignored this completely and the stock price is down in the red. The stock price went down 3.5% to Rs.810.95 and the mood is somber on the counter.