Dr Reddy’s Share Price Down; Hyderabad API Facility Gets 7 USFDA Observations

On November 19, 2024, Dr. Reddy’s Laboratories announced that the US Food & Drug Administration carried out an inspection at its Active Pharmaceutical Ingredient manufacturing facility (CTO-2) in Bollaram, Hyderabad, from November 13 to 19.

Dr. Reddy’s Plans to Address 7 Observations 

The company stated that it had received a Form 483 with 7 observations and would address them within the given timeframe.

As per the USFDA, a Form 483 is given to a company’s management after an inspection when the investigator finds conditions that may violate the Food, Drug, and Cosmetic (FD&C) Act and other relevant regulations.

Share Price Performance

Dr. Reddy’s share price traded 1.64% lower at ₹1,193.69 at 1:05 PM on NSE. The stock opened at ₹1,174.90 before slightly dipping to day’s low of ₹1,172.50. Dr. Reddy’s share price has declined by 2.70% over the past week.

Earlier this month, Dr. Reddy’s Laboratories was fined approximately ₹27 lakh by Mexico’s health regulatory body, COFEPRIS (Comisión Federal para la Protección contra Riesgos Sanitarios), for failing to adhere to prescribed guidelines in filing the required import notification.

About Dr. Reddy’s 

Dr. Reddy’s Laboratories, specializes in generic medicines, active pharmaceutical ingredients (APIs), and over-the-counter products. The company operates in key markets, including the US, Europe, and emerging regions.

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