Dr Reddy's Labs rallies 3% on Greek drug regulator nod to Srikakulam unit

Dr Reddy's Laboratories shares gained 2.7 percent intraday on July 1 after a media report indicated about approval for Srikakulam unit from Greek drug regulator.

The stock has rallied 15 percent in last one year, outperforming Nifty Pharma index that has lost 12 percent in the same period. It was quoting at Rs 2,613, up Rs 63.20, or 2.48 percent on the BSE at 1109 hours IST.

Dr Reddy's Srikakulam unit has received a clearance letter from Greek drug regulator, reported CNBC-TV18 quoting Cogencis.

The report further suggested that the company's Duvvada unit has received two observations from the US Food and Drug Administration, but which are largely procedural in nature.