Lupin shares jumped 10 percent yesterday after the US regulator issued an establishment inspection report (EIR) for its Goa facility, classifying it as voluntary action indicated (VAI). What does this entail for the company and how much of a respite will it be for the stock hereon to discuss this CNBC-TV18 spoke to the Executive Director and Global CFO, Ramesh Swaminathan.

Swaminathan said, “EIR which comes with VAI means that the warning letter has been lifted. We have closed about 109 products, which are still to be approved by the FDA, about 24 to 25 are actually from this unit. We would expect, in fact, a lot more approvals to come through perhaps over the next few weeks for this particular unit.”

He added, “It is a very important unit for us, close to about 24-25 percent of US turnover comes from this particular unit.”

For full interview, watch accompanying video...

Also Read: Lupin spikes on EIR for Goa plant; expert reacts

First Published:Dec 15, 2021 11:48 AM IST