Dr Reddy’s API Srikakulam plant gets EIR from USFDA; stock slips 3%

The pharma company on May 30 has received EIR from the USFDA for its API Srikakulam Plant (SEZ) in Andhra Pradesh, indicating that the inspection is closed.

Jun 01, 2020 02:06 IST India Infoline News Service

Dr Reddys Laboratories
Shares of Dr Reddy’s Lab is trading 3% lower on the BSE in an otherwise strong market. The pharma company on May 30 has received EIR from the USFDA for its API Srikakulam Plant (SEZ) in Andhra Pradesh, indicating that the inspection is closed.

Further to our intimation dated October 26, 2019, with regard to the audit of our API Srikakulam Plant (SEZ), Andhra Pradesh, we would like to inform you that we have received the Establishment Inspection Report (EIR) from US FDA, for the above-referred facility, indicating that the inspection is “closed” under 21 CFR 20.64(d)(3), Dr Reddy’s said in the press note.

The stock is currently trading at Rs3,950.75, down by Rs123.05 or 3.02% from its previous closing of Rs4,073.80 on the BSE.

The scrip opened at Rs4,072.10 and has touched a high and low of Rs4,095.80 and Rs3,945.25 respectively.

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