The United States Food and Drug Administration (US FDA) is conducting inspections of facilities belonging to Indian pharmaceutical companies, including Dr. Reddy's, Sun Pharma, Torrent Pharma and Laurus Labs, sources told CNBC TV 18.
According to the business television report, inspections are currently taking place at several pharmaceutical facilities, including Dr. Reddy's R&D Centre in Hyderabad, Sun Pharma's Dadra facility, Torrent Pharma’s oncology facility, and Laurus Labs’ Vizag facility.
Sun Pharma informed CNBC TV18 that it does not provide comments on the schedule of regulatory inspections. As of now, there has been no response from Torrent Pharma and Laurus Labs to CNBC TV18's inquiries regarding the inspections.
In March, the US FDA conducted a pre-approval inspection (PAI) at Torrent Pharmaceuticals' oral-oncology manufacturing facility in Bileshwarpura, Gujarat. Following the inspection, the USFDA issued a Form 483, which typically contains observations made during the inspection. In this case, there was one observation noted at the Gujarat-based manufacturing facility.
Sun Pharma has a formulations manufacturing plant in Dadra.
Earlier, Torrent Pharma on December 4 reported a 24 per cent jump to Rs 386 crore in its second-quarter net profit after a surge in revenue from India, Brazil and German operations offset a decline in the US.
Laurus Laboratories on October 20 reported an 84.1 percent year-on-year drop in consolidated net profit at Rs 37.12 crore in the July-September quarter of the current financial year.
Dr Reddy’s Laboratories on October 27 reported its highest-ever consolidated net profit at Rs 1,480 crore in the July-September quarter, up a 33 percent year-on-year (YoY).
Sun Pharma had earlier reported a 5 percent year-on-year rise in consolidated net profit to Rs 2,375.5 crore for the July-September quarter of the current financial year.
At 2:20 pm, shares of Sun Pharma were trading slightly higher at Rs 1,235.20 on the NSE. Laurus Labs' shares were marginally down, trading at Rs 378.65 apiece on the NSE. On the other hand, Torrent Pharma's shares saw a 1.13 percent decline, reaching Rs 2109.40 on the NSE.
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