Lupin is most certainly seeing some action on its counter today. It had closed at Rs.1142.85 on Friday and today, it opened higher at Rs.1165.75, going up further to Rs.1174.85. It has come down since then to Rs.1146 currently., just about holding onto the green.

Lupin surely has reasons to celebrate. The company announced of Friday, after market hours that the US FDA completed Prior Approval Inspection (PAI) of its Goa manufacturing plant and it issued zero observations.

This inspection began on 17th July and ended on Friday.

US FDA does a PAI when a company seeks approval for an Abbreviated New Drug Application (ANDA), filed for marketing. And this zero observation holds tremendous relevenace as almost 50% of its pending ANDAs are filed from the very same Goa plant.