In a relief to Lupin, US FDA closes 9 inspections made last year -:- Equity Research

In a partial relief to Lupin, the pharma major has received an Establishment Inspection Report (EIR) from the US drug regulator which states that the inspection conducted in July 2015 at Lupin’s Goa facility has been closed. The US Food and Drug Administration had conducted two inspections in the past one year — July 2015 and March 2016 — and made 18 observations regarding the Goa facility. Out of these, nine observations made last year have been given a clearance by the US FDA, reports Ekta Batra of CNBC-TV18. In a statement to BSE on Thursday, Lupin said: “Responses from the March 2016 inspection and the updates thereafter are still under review by the agency.” Lupin stock soared on the news of the EIR, closing at Rs 1,684, up 7.7 percent from the previous close of Rs 1,556.