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Lupin shares jump almost 7%


NEW DELHI:  Shares of Lupin today soared almost 7 per cent after the company received Establishment Inspection Report (EIR) from the US health regulator for its Goa plant leading to closure of all outstanding inspections of the facility.

The stock jumped 6.93 per cent to end at Rs. 1,519.40 on BSE. Intra-day, it zoomed 8 per cent to Rs. 1,535.

On NSE, it soared 6.87 per cent to end at Rs. 1,518.60.

Led by the surge in the stock, the company’s market valuation rose by Rs. 68,561.86 crore.

On the volume front, 3.28 lakh shares of the company were traded on BSE and over 42 lakh shares changed hands at NSE during the day.

The company said it has received notification that the inspection carried out by the USFDA in March 2016 at its Goa facility is now closed and the agency has issued an Establishment Inspection Report (EIR).

“This closes all outstanding USFDA inspections at Lupin’s Goa facility,” the company said in a statement.

Commenting on the receipt of the EIR, Vinita Gupta, Chief Executive Officer and Nilesh Gupta, Managing Director, Lupin said the company is committed to ensuring that all systems and processes followed are compliant with cGMP and are committed to bringing quality products to market.

“We are grateful for the USFDA’s confidence in our corrective action plan and in our team. It is our goal to remain well ahead on the compliance curve,” they added.

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