Lupin extends gain into sixth session as Mandideep unit gets EIR from USFDA

Shares of Lupin were trading higher for the sixth straight day, up 3.3 per cent to Rs 854, on the BSE on Wednesday in the intra-day deals after the company’s Mandideep Unit II facility received Establishment Inspection Report (EIR) from the US health regulator.

The stock of the drug maker has rallied 47 per cent in the past six trading days, and was quoting close to its 52-week high level of Rs 882 touched on May 2, 2019.

“The company has received the Establishment Inspection Report (EIR) after the closure of the US Food and Drug Administration (USFDA) inspection of its Mandideep Unit II facility, classifying the inspection as Voluntary Action Indicated (VAI). The inspection at the facility was carried out by the US.FDA between November 26, 2018 and December 4, 2018,” the company said.

On Monday, April 13, Lupin had received an EIR from the US health regulator for its manufacturing plant in Nagpur. While, earlier this month, the drug major said its Aurangabad facility received EIR report from the USFDA.

At 10:32 am, Lupin was up 1 per cent at Rs 837 on the BSE, as against a 2.7 per cent rise in the S&P BSE Sensex. A combined 2.3 million shares have changed hands on the counter on the NSE and BSE till the time of writing of this report.