Dr Reddy's Laboratories fell 3.04% to Rs 2688 at 9:24 IST on BSE after the company said its formulations manufacturing plant in Hyderabad received a Form 483 with 11 observations from the USFDA.The announcement was made after market hours on Friday, 8 February 2019.
On the BSE, 6252 shares were traded in the counter so far compared with average daily volumes of 46,000 shares in the past two weeks. The stock had hit a high of Rs 2699.95 and a low of Rs 2659.95 so far during the day. The stock hit a 52-week high of Rs 2,875 on 4 February 2019. The stock hit a 52-week low of Rs 1,888 on 21 May 2018.
Dr Reddy's Laboratories announced that the audit of its formulations manufacturing plant - 3 at Bachupally, Hyderabad by the US Food and Drug Administration (USFDA) completed on 8 February 2019. The company has been issued a Form 483 with 11 observations. The company said it will address them comprehensively within the stipulated timeline.
On a consolidated basis, net profit of Dr Reddy's Laboratories rose 65.28% to Rs 500.30 crore on 1.16% rise in net sales to Rs 3850 crore in Q3 December 2018 over Q3 December 2017.
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