Lupin shares surged over 4 per cent on Friday after the pharma major received an establishment inspection report (EIR) from the USFDA on closure of inspection of its Mandideep and Aurangabad facilities.
At 12.53 pm, shares of the company were trading 2.33 per cent up at Rs 1504.40. The scrip opened at Rs 1475 and has touched a high and low of Rs 1534.90 and Rs 1475, respectively, in trade so far. The scrip later settled the day 0.72 per cent up at Rs 1480.70.
In a BSE filing, Lupin said: “It has received establishment inspection report (EIR) for its Mandideep and Aurangabad facilities wherein the USFDA has concluded that the inspections stand closed.”
The promoters holding in the company stood at 46.52 per cent while Institutions and Non-Institutions held 42.27 per cent and 11.22 per cent respectively.
It further said: “The USFDA had conducted audits at Lupin’s Mandideep facility from 8th to 19th February, 2016, and its Aurangabad facility from 11th to 15th January, 2016.”
Lupin said it took appropriate steps to address the observations it had received from these audits.
“Having received the EIR from the USFDA about the closure of these inspections, all observations stand addressed and both of these facilities are current good manufacturing practice (CGMP) compliant,” it added.