Dr Reddy's Lab shares jump nearly 5%

Shares of Dr Reddy's Laboratories today surged nearly 5 per cent after the company said it has received an establishment inspection report (EIR) from the US health regulator for a unit at its Srikakulam formulations facility in Andhra Pradesh.
The stock gained 4.46 per cent to Rs 2,410.55 on BSE.
At NSE, shares of the company jumped 4.67 per cent to Rs 2,412.40.
The stock was the top gainer on both the key indices during the morning trade.
"With regard to the audit of the company's formulation Srikakulam Plant (SEZ) Unit I, Andhra Pradesh...the company has received an EIR from the USFDA, for the above-referred facility," Dr Reddy's said in a regulatory filing.

The USFDA issues an EIR to the establishment that is the subject of an FDA or FDA-contracted inspection when the agency decides to close the inspection.