Lupin gains on EIR from USFDA for Pithampur Unit 1

Lupin has moved higher by 7% to Rs 843 on the National Stock Exchange (NSE) after the pharmaceutical company said that it has received establishment investigation report (EIR) from the United States Food and Drug Administration (US FDA) for the successful inspection of Pithampur Unit 1. The inspection was conducted in July 2017.
EIR indicates closure of plant inspection by the US regulatory agency.

"The successful outcome of this inspection is encouraging, and further validates our commitment to meeting global manufacturing standards. We are committed to upholding the highest levels of quality and compliance standards across all our facilities,” said Nilesh Gupta, Managing Director, Lupin.

The stock erases partial of its gain, and was trading 3% higher at Rs 808 on the NSE at 10:41 am. A combined 3.12 million shares changed hands on the counter on the NSE and BSE so far.