Dr Reddy's Laboratories said that US Food and Drug Administration (USFDA) issued form 483 with four observations post inspection at its Srikakulam, Andhra Pradesh manufacturing facility.
The good manufacturing practices (GMP) inspection was conducted from 30 May 2024 to 7 June 2024 at the API manufacturing facility and closed with an issuance of a form-483 with four observations.The pharma major stated that it will respond to the USFDA within the stipulated timeframe.
Dr Reddy's Labs is engaged in providing medicines. The firm operates in three segments: global generics, pharmaceutical services and active ingredients (PSAI) and proprietary products.
The drug maker reported 36.25% increase in net profit to Rs 1,307 crore on 12.48% rise in revenue from operations to Rs 7,083 crore in Q4 FY24 over Q4 FY23.
The scrip rose 0.76% to currently trade at Rs 6,105 on the BSE.
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