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Last Updated : Feb 11, 2019 09:31 AM IST | Source: Moneycontrol.com

Dr Reddy’s Labs falls 4% as US FDA issues 11 observations to Bachupally plant

The company on Friday told the exchanges that its Formulations Manufacturing Plant - 3 at Bachupally, Hyderabad had been inspected by the US FDA. It has been issued a Form 483 with 11 observations.

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Shares of Dr Reddy’s Laboratories fell 4 percent on Monday morning as investors reacted to observations being issued to the company by US FDA.

The stock touched an intraday high of Rs 2,704.70 and an intraday low of Rs 2,659.95.

The company on Friday told the exchanges that its Formulations Manufacturing Plant - 3 at Bachupally, Hyderabad had been inspected by the US FDA. It has been issued a Form 483 with 11 observations.

“We will address them comprehensively within the stipulated timeline,” the company told the exchanges.

The stock has gained over 5 percent in the past one month, while in the past three days, it fell 3 percent.

At 09:28 hrs Dr Reddys Laboratories was quoting at Rs 2,701.10, down Rs 71.20, or 2.57 percent, on the BSE.
First Published on Feb 11, 2019 09:31 am
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