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Drug-pricing policy of pharma major Dr Reddy’s Laboratories has come under the scanner of the US authorities.
According to a SEC filing by the Hyderabad-based company, in November 2014, the Attorney General of Texas sent a Civil Investigative Demand (CID) seeking information related to pricing of about 15 products and other information.
Subsequently, it was asked to provide a sample of certain transactional data pertaining to one calendar quarter and the company “agreed to provide such sample transactional data to the Texas AG no later than February 20, " the filing said.
When contacted, a spokesperson of Dr Reddy’s told BusinessLine : “We are working closely with the office of the Attorney General, State of Texas, in responding to their queries so as to expedite a speedy redress to the information they have sought from us.’’ Further details could not be shared as the “as the matter is still in progress,’’ he added.
On Wednesday, Dr Reddy’s scrip lost 2.48 per cent on the BSE to close at ₹3274.95.
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