Comments
Shares of Dr Reddy’s Laboratories gained as much as 9.7 per cent as the company has received an establishment inspection report (EIR) from the US health regulator for its formulation manufacturing facility at Duvvada in Visakhapatnam.
Following a positive open at Rs 2,280 against the previous close of Rs 2,277.30, the scrip touched an intraday high of Rs 2,498 and a low of Rs 2,277.30.
Dr Reddy's shares ended higher by 4.99 per cent at Rs 2,390.85.
However, the company said that the US Food and Drug Administration (USFDA) has not yet "closed’’ its inspection of the formulations unit of Dr Reddy’s Laboratories.
The USFDA had issued a warning letter to the drug major on November 5, 2015 on the Duvvada unit.
"FDA has explained that the inspection has not closed and the site’s status remain unchanged, but the FDA has released the EIR in order to be transparent about its regulatory process,’’ the company said.
Dr Reddy’s is planning to request for a re-inspection of the facility in 2018 after further discussion on scheduling with USFDA.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.