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Dr Reddy's gets healthier after USFDA clears facility

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Dr Reddy's Laboratories rose 0.9% to Rs 2,250.55 at 10:45 on after the company announced that it has received establishment inspection report from the US drug regulator for its facility in following the audit in September.

The announcement was made after market hours on Friday, 1 December 2017.

Meanwhile, the S&P Sensex was up 108.35 points or 0.34% at 32,944.77.

On the BSE, 12,024 shares were traded on the counter so far as against the average daily volumes of 65,421 shares in the past one quarter. The stock had hit a high of Rs 2,278.50 and a low of Rs 2,240 so far during the day. The stock had hit a 52-week high of Rs 3,247 on 1 December 2016. The stock had hit a 52-week low of Rs 1,901.65 on 11 August 2017.

The stock had underperformed the market over the past one month till 1 December 2017, falling 5.53% compared with the Sensex's 2.28% decline. The stock had also underperformed the market over the past one quarter, advancing 0.59% as against the Sensex's 2.95% rise. The scrip had also underperformed the market over the past one year, dropping 31.17% as against the Sensex's 23.62% rise.

The large-cap company has equity capital of Rs 82.94 crore. Face value per share is Rs 5.

On 21 September 2017, Dr Reddy's Laboratories had announced that the audit of its Custom Pharmaceutical Services (CPS) facility, Technology Development Centre (TDC-1) at Miyapur, Hyderabad, Telangana, by the United States Food & Drug Administration (USFDA) was completed on that day with zero observations.

On a consolidated basis, Dr Reddy's Laboratories' net profit fell 1.1% to Rs 305.40 crore on 1.1% decline in net sales to Rs 3546 crore in Q2 September 2017 over Q2 September 2016.

Dr Reddy's Laboratories is an integrated global pharmaceutical company.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 04 2017. 11:02 IST
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