Dr Reddy's slips as USFDA makes 3 observations for UK plant

Dr Reddy's Laboratories fell 0.67% to Rs 2,195.55 at 09:24 IST on BSE after the company was issued Form 483 with three observations for API Mirfield Plant in United Kingdom.

The announcement was made after market hours on Friday, 15 September 2017.

Meanwhile, the S&P BSE Sensex was up 196.31 points, or 0.61% to 32,468.92.

On the BSE, 4,853 shares were traded in the counter so far, compared with average daily volumes of 61,440 shares in the past one quarter. The stock had hit a high of Rs 2,205 and a low of Rs 2,179.10 so far during the day. The stock had hit a 52-week high of Rs 3,394.95 on 28 October 2016. The stock had hit a 52-week low of Rs 1,901.65 on 11 August 2017.

The large-cap company has equity capital of Rs 82.93 crore. Face value per share is Rs 5.

Dr Reddy's Laboratories said that the audit of API Mirfield plant, United Kingdom, by the US Food and Drug Administration (USFDA) was completed on Friday, 15 September 2017. The company has been issued a form 483 with three observations which it is addressing, Dr Reddy's Laboratories said.

On a consolidated basis, Dr Reddy's Laboratories' net profit declined 56.6% to Rs 66.60 crore on 2.5% rise in net sales to Rs 3315.90 crore in Q1 June 2017 over Q1 June 2016.

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

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