Lupin's Nagpur facility receives EIR from US FDA

Lupin today announced the receipt of the Establishment Inspection report (EIR) post the completion of a pre-approval inspection for its phenytoin sodium extended release 100 mg capsules, carried out by the US FDA at its Nagpur facility in Maharashtra. The inspection was conducted in September 2018 and concluded without any observations. 
  
Lupin's Nagpur facility is the company's  latest site and manufactures oral solid dosage products  along with  injectable manufacturing facility.  The management has stated  that it is a positive development for the company which shows its ability to meet global standards. 
  
Lupin is a   pharmaceutical company developing and delivering a wide range of branded and generic formulations, biotechnology products and APIs globally . It has market cap of Rs. 38661 crore. 
  

The stock reacted in a positive way to this development, recording an intra-day high of Rs 876. At 3.00 p.m. it traded at Rs. 860.90 showing uptick of 0.78 per cent on the BSE. While the BSE Sensex traded at 34885 down by 273 points.