After opening the day in green, Share markets in India witnessed volatile trading activity and are presently trading marginally above the dotted line. Sectoral indices are trading on a mixed note with stocks in the energy sector and pharma sector witnessing maximum buying interest. Realty stocks and auto sector are trading in the red.

The BSE Sensex is trading up by 75 points (up 0.3%) and the NSE Nifty is trading up by 30 points (up 0.3%). The BSE Mid Cap index is trading up by 0.3%, while the BSE Small Cap index is trading up by 0.6%. The rupee is trading at 64.24 to the US$.

In news from stocks in the pharma sector. Lupin share price is in focus today after the US drug regulator issued an Establishment Inspection Report (EIR).

As per an article in a leading financial daily, Lupin received notification that the inspection carried out by the US Food and Drug Administration (USFDA) in April 2017 at its Aurangabad facility is now closed.

The US regulator issued an EIR which closes all outstanding USFDA inspections at Lupin’s Aurangabad facility.

One must note that, the plant contributes around 10-15% to the company’s US sales and has several abbreviated new drug applications (ANDAs) pending approval.

Lupin’s management has a proven history of dealing with regulatory challenges and making niche launches.

However, Lupin has been facing heat from USFDA for some months now. The US regulator had recently given observations on the company’s Goa plant, the most important with respect to exports to the US, in April. In May, the Indore unit of the pharmaceutical manufacturer received six observations from USFDA.

US Remains Key Growth Driver

Lupin derives 43% of its global revenues from the US. The US continues to be a principle growth driver for the company. Lupin enjoys a strong brand equity in the US and is the 5th largest pharmaceuticals company by prescriptions in the country.