USFDA observations take toll on Dr Reddy's Lab
Dr.Reddy's Laboratories announced that the audit of its formulations manufacturing plant at Duvvada, Visakhapatnam by the US FDA, has been completed, and a Form 483 with 8 observations has been issued.
Shares of the pharma major were down by 2.03% to Rs 2,503. On the BSE, 7572 shares were traded in the counter. The scrip has outperformed the market in past one year, up 7.34% as against Sensex's 2.48% rise.
The drug maker after market hours yesterday, 20 August 2019 said that it will address this comprehensively within the stipulated timeline.
Meanwhile, the S&P BSE Sensex was down 23.92 points or 0.06% to 37,304.09.
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 APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations.
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