Dr Reddy's Labs jumps 6% as Andhra formulation unit receives EIR
The domestic drug maker have been facing regulatory hurdles of late.
By ETMarkets.com | Updated:
NEW DELHI: Shares of Dr Reddy's Laboratories jumped over 6 per cent in Thursday's trade after the drug maker said that it has received an Establishment Inspection Report (EIR) from the USFDA for Unit II of its formulation facility at Srikakulam Plant (SEZ), Andhra Pradesh.
The company had in May told stock exchanges that an audit of Unit II of Andhra Pradesh-based Srikakulum Plant (SEZ) by USFDA completed with zero observations.
The scrip settled at Rs 2,486.45, up 7.47 per cent on Thursday.
The domestic drug maker have been facing regulatory hurdles of late.
Earlier this month, the regulatory authority of Germany issued six major observations related to Good Manufacturing Practices (GMP) for Indian drug major Dr Reddy’s plant in Vishakapatnam.
In August, a class action lawsuit was filed against the company in the US by an investor alleging misleading statements in violation of the US federal securities laws.
The company had in May told stock exchanges that an audit of Unit II of Andhra Pradesh-based Srikakulum Plant (SEZ) by USFDA completed with zero observations.
The scrip settled at Rs 2,486.45, up 7.47 per cent on Thursday.
The domestic drug maker have been facing regulatory hurdles of late.
Earlier this month, the regulatory authority of Germany issued six major observations related to Good Manufacturing Practices (GMP) for Indian drug major Dr Reddy’s plant in Vishakapatnam.
In August, a class action lawsuit was filed against the company in the US by an investor alleging misleading statements in violation of the US federal securities laws.
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