USFDA issues 5 observations to Dr. Reddy’s Hyderabad unit; stock down 1%

The company said in its filing that the audit of its API manufacturing plant 2 at Bollaram, Hyderabad, by the USFDA has been completed with 5 observations.

Jul 12, 2019 09:07 IST India Infoline News Service

Dr Reddy Lab
Shares of Dr. Reddy's Lab slipped 1% in the afternoon session after US health regulator USFDA issued a Form-483 with 5 observations.

The company said in its filing that the audit of its API manufacturing plant 2 at Bollaram, Hyderabad by the USFDA, has been completed with 5 observations.

"We will address them (observations) comprehensively within the stipulated timeline,” the company stated.

Dr Reddys Laboratories Ltd is currently trading at Rs2,632, down by Rs20.15 or 0.76% from its previous closing of Rs2,652.15 on the BSE.

The scrip opened at Rs2,654.95 and has touched a high and low of Rs2,660 and Rs2,587.35 respectively.

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