Dr. Reddy's achieves 52-week high following US FDA clearance for API unit

19 Jun 2023 , 11:17 AM

The US Food & Drugs Administration (USFDA) has completed inspection at Dr Reddy’s Bollaram API (active pharmaceutical ingredients) manufacturing facility with zero observations.

The inspection was conducted from June 12 to 16, 2023.

The US drug regulator, in addition, has issued an Establishment Inspection Report (EIR) for Dr. Reddy’s formulations manufacturing facility in Srikakulam, categorizing it as Voluntary Action Indicated (VAI).

The VAI classification is given by the FDA when it identifies objectionable conditions but decides against taking or suggesting regulatory action.

On June 19, the shares of Dr. Reddy’s Laboratories experienced a rise of over 2% during early trading, reaching a 52-week high of Rs 5,024.

At 11.16 AM, the shares of Dr Reddy’s were trading at Rs 4924.50, 0.20% higher than the previous close of Rs 4,915.05.