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Dr Reddy's hits 52-week low on USFDA observations at Duvvada unit

The stock has fallen to its 52-week low of Rs 2,751, down 3.5% on BSE in early morning trade.

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Dr Reddy's laboratory

SI Reporter Mumbai
Dr Reddy's Laboratories has fallen to its 52-week low of Rs 2,751, down 3.5% on BSE in early morning trade after the US Food and Drug Administration (FDA) made 13 observations at the company’s formulations facility at Duvvada in Visakhapatnam.

“The audit of our formulation manufacturing facility at Duvvada, Visakhapatnam, by the USFDA, has been completed today. We have been issued a Form-483 with 13 observations, which we are addressing,” the company intimated the stock exchanges on March 8, 2017.

The FDA issues a Form-483 if its investigators spot any conditions that in their judgment may constitute violations

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