Lupin's Somerset Manufacturing Plant secures EIR from USFDA; stock rises

7 Jul 2022 , 11:02 AM

Lupin Limited announced today that it has received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (USFDA) for its Somerset, NJ manufacturing facility, following an inspection in March 2022.

The USFDA has determined that the facility’s inspection classification is Voluntary Action Indicated (VAI).

“Achieving USFDA certification is a major milestone for Lupin’s Somerset site, as well as a crucial step in gaining back company’s position as the best in class in Quality and Compliance. We are focused to manufacture and supply good quality products to our patients,” commented, Lupin CEO Vinita Gupta.

“We are very happy to announced that we have received the EIR for Somerset facility with Voluntary Action Indicated status from USFDA. With this positive development, we can now build a sustainable business from our Somerset facility and extending this momentum to our other sites,” commented Nitesh Gupta, MD Lupin.

At around 11.18 AM, Lupin was trading at Rs629.15 down by Rs0.95 or 0.15% from its previous closing of Rs630.10 on the BSE. The scrip opened at Rs638.35 and has touched a high and low of Rs650.30 and Rs622.65 respectively.