 "Dr Reddy's buys 8 drugs from Teva, Allergan in $350 mn deal")
Dr Reddy’s stock was down over 2 per cent on Wednesday after it received eight observations from the US drug regulator for its formulations manufacturing plant at Visakhapatnam. Analysts say this is a negative as the site was cleared by the regulator in February this year. While the company has indicated it will address the issues raised by the US Food and Drug Administration within the stipulated time frame, the new observations are a major concern.
Repeat observations for an approved facility are an indication of consistent regulatory challenges for the company, says an analyst with a foreign brokerage. While
