Timeline of Dr Reddy's regulatory issues and stock price movement

Moneycontrol News

Dr Reddy’s said on Friday that it has received six major observations from German drug regulator for its Duvvada formulation facility. The company also said renewal of its EU-GMP certification next year will be based on the regulator’s satisfaction of the company’s corrective and preventive action taken at the plant.

The latest jab is a part of the never-ending saga of regulatory compliance woes the company has been facing starting November 2015 when USFDA sent a warning letter. The company has lost almost half of its market value since then. The warning letter slowed down new approvals significantly, hitting the company sales.

Here is a timeline of Dr. Reddy’s regulatory problems and the movement in its stock price