Dr Reddy’s Hyderabad unit receives no observation under form 483 by USFDA

The audit of Research and Development facility of Aurigene Discovery Technologies Limited, a wholly owned subsidiary, situated at Hyderabad by the USFDA, has been completed on March 21, 2019.

Mar 25, 2019 03:03 IST India Infoline News Service

Dr Reddy’s Laboratories in its filing to the exchanges informed that the company has not received observation under form 483 by USFDA for its Hyderabad unit.

"The audit of Research and Development facility of Aurigene Discovery Technologies Limited, a wholly owned subsidiary, situated at Miyapur, Hyderabad by the USFDA, has been completed on March 21, 2019," the company said in a press note after markets hours to the exchanges on Friday.

Meanwhile, in a separate filing to the exchanges, the company informed that the US district Court for the District of New Jersey issued its decision (dated March 20, 2019) granting in part and denying in part our Motion to Dismiss. The court has dismissed Plaintiff's claims with respect to 17 out of the 22 alleged misstatements.

"The company believes that the remaining alleged claims of misstatements are without merit and intends to vigorously defend itself against them," the pharma company said in a press note.

Dr Reddys Laboratories Ltd's share price ended at Rs2,750, up by Rs2.75 or 0.1%, from its previous close of Rs2,747.25 on the BSE.
The scrip opened at Rs2,764.90 and touched a high and low of Rs2,775.05 and Rs2,740, respectively. A total of, 7,03,890 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs45,649.87cr.

Related Story