Lupin’s stock jumped in early trading on July 15 after the business got the United States Food and Drug Administration’s (USFDA) Establishment Inspection Report (EIR) for its Dabhasa, Gujarat manufacturing facility.
At around 2.44 PM, Lupin was trading 2.13% higher at Rs 1,836 per piece, against the previous close of Rs 1,797.75 on NSE. The counter touched an intraday high and low of Rs 1,839.05, and Rs 1,801.25, respectively.
The EIR was issued following the facility’s latest inspection, which took place from April 8 to April 12, 2024.
The inspection finished with no observations, and the facility was classified as “No Action Indicated” (NAI).
The plant is part of Lupin Manufacturing Solutions (LMS), a company that develops, manufactures, and sells active pharmaceutical ingredients, as well as conducts contract development and manufacturing.
Lupin’s recent success in the US (sales climbed ~34% YoY in FY24) is due to its improved regulatory track record and traction in the inhalation portfolio. Following the launch of gSpiriva, the share of inhalation products in US sales increased from 25% in FY22 (USD 185 million) to 40% in FY24 (USD 326 million).
Growth in India had been muted due to the cessation of in-licensed brands (contribution fell from 15% in FY23 to 11% in Q4FY24), according to the broking company.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.