Lupin shares in focus today as Madhya Pradesh unit clears USFDA inspection

Shares of pharma firm Lupin Ltd are in news today as it has received the Establishment Inspection Report (EIR) from the United States Food and Drug Administration (USFDA) for its Mandideep unit-2 manufacturing facility. The EIR was issued after the last inspection of the facility in Madhya Pradesh was conducted during August 7 and August 11, 2023. The inspection closed with the facility receiving an inspection classification of 'no action indicated' (NAI).

On Tuesday, Lupin shares plunged 1.04% to Rs 1128.40 against the previous close of Rs 1140.25 on BSE. Market cap of the firm fell to Rs 51,369.35 crore. Total 0.16 lakh shares of the firm changed hands amounting to a turnover of Rs 1.78 crore on BSE.

Earlier, the stock opened higher at Rs 1166.95 on BSE. Stock of Lupin has gained 61.58 per cent in a year and risen 54 per cent in 2023. The share hit a 52-week high of Rs 1215.20 on October 17, 2023 and a 52-week low of Rs 628.10 on March 31, 2023.

The stock has a beta of 0.6, indicating very low volatility in a year.

In terms of technicals, the relative strength index (RSI) of Lupin stock stands at 42.3, signaling it's neither trading in the overbought nor in the oversold zone. Lupin shares are trading lower than the 5 day, 10 day, 20 day, 50 day but higher than the 100 day , 150 day and 200 day moving averages.

“We are pleased to receive the EIR with a satisfactory inspection status from the U.S. FDA for the recent inspection of our Mandideep Unit-2 facility. This accomplishment is in line with our continued focus and commitment to becoming best-in-class in quality and compliance, and enables us to continue delivering quality affordable healthcare solutions globally," said Nilesh Gupta, Managing Director, Lupin.

Lupin is a pharmaceutical company producing, developing and marketing a wide range of branded nd generic formulations, biotechnology products and active pharmaceutical ingredients (APIs) globally.

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