Dr Reddy's hits 52-week high after USFDA issues EIR for Srikakulam facility

The company said, with this, all facilities under warning letter are now determined as Voluntary Action Indicated (VAI)

Shares of Dr Reddy’s Laboratories rallied 8 per cent and hit a 52-week high of Rs 4,132 on the National Stock Exchange (NSE) on Friday after the company received the Establishment Inspection Report (EIR) from US health regulator for its manufacturing plant at Srikakulam. The drug maker's stock surpassed its previous high of Rs 4,095, touched on April 22, 2020.

“The company has received the Establishment Inspection Report (EIR) from the US Food and Drug Administration (USFDA), for the Active Pharmaceutical Ingredients (API) manufacturing plant at Srikakulam, Andhra Pradesh (CTO VI), indicating closure of the audit and the inspection