Dr Reddy's Labs gains as USFDA completes audit at Louisiana plant

Dr Reddy's Laboratories rose 1.72% to Rs 2,630 at 14:27 IST on BSE after the company said that the audit of its formulations Shrevepmi plant, Louisiana, USA, by the USFDA, has been completed with zero observations.

The announcement was made during market hours today, 22 February 2019.

Meanwhile, the S&P BSE Sensex was down 7.82 points, or 0.02% to 35,890.53

On the BSE, 55,000 shares were traded in the counter so far compared with average daily volumes of 1.09 lakh shares in the past two weeks. The stock had hit a high of Rs 2,642.35 and a low of Rs 2,558 so far during the day. The stock hit a 52-week high of Rs 2,875 on 4 February 2019. The stock hit a 52-week low of Rs 1,888 on 21 May 2018.

On a consolidated basis, net profit of Dr Reddy's Laboratories rose 65.28% to Rs 500.30 crore on 1.16% rise in net sales to Rs 3850 crore in Q3 December 2018 over Q3 December 2017.

Dr Reddy's Laboratories is an integrated pharmaceutical company. Through its three businesses - Pharmaceutical Services & Active Ingredients, Global Generics and Proprietary Products - Dr Reddy's offers a portfolio of products and services including APls, custom pharmaceutical services, generics, biosimilars and differentiated formulations.

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