Will Dr Reddy’s response revive Street confidence?

In a post-market hours’ disclosure, Dr Reddy’s Laboratories on Tuesday said it has submitted its response to the US drug authority. The US Food and Drug Authority in November had issued a warning to the company after identifying significant deviations at its plants during FDA inspection. This had sent the stock crashing. However, the nature of the response sent to the US FDA has not been revealed. Analysts will keep a close tab on the developments.