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Dr Reddy's slips 7% following 8 USFDA observations for Duvvada plant

The stock slipped 7% to Rs 2,425 on the BSE after the pharmaceutical company said US health regulator issued eight observations after inspecting its formulations plant at Duvvada, Visakhapatnam.

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SI Reporter Mumbai
Shares of Dr. Reddy’s Laboratories have slipped 7% to Rs 2,425 per share on the BSE in early morning trade after the pharmaceutical company said that the US health regulator issued eight observations after inspecting its formulations plant at Duvvada, Visakhapatnam.

"The audit of our formulations manufacturing facility at Duvvada, Visakhapatnam, by the US Food and Drug Administration (USFDA), has been completed today. We have been issued a Form 483 with 8 observations, which we are addressing," the company said in a filing.

As per the USFDA, Form 483 is issued to a firm's management at the conclusion

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First Published: Oct 31 2018 | 10:04 AM IST

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