Dr Reddy's falls 8% as USFDA issues 11 observations for Hyderabad facility

The stock slipped 8 per cent to Rs 2,556 after the company said the USFDA has issued form 483 with 11 observations for its manufacturing facility in Hyderabad.

Shares of Dr. Reddy’s Laboratories have slipped 8 per cent to Rs 2,556 per share on the BSE in early morning trade on Monday after the company said the US Food and Drug Administration (USFDA) has issued form 483 with 11 observations for its manufacturing facility in Hyderabad.

“Our formulations manufacturing plant - 3 at Bachupally, Hyderabad by the US FDA, has been completed today. We have been issued a Form 483 with 11 observations. We will address them comprehensively within the stipulated timeline,” Dr. Reddy’s Laboratories said in a regulatory filing on Friday after market hours.

Earlier