United States Food and Drug Administration (USFDA) issued a Form 483 with five observations to the company's API manufacturing plant at Srikakulam, Andhra Pradesh (CTO VI).
Dr Reddy's Laboratories share price slipped 2.7 percent intraday on January 29 after the company received 5 observations from USFDA.
United States Food and Drug Administration (USFDA) issued a Form 483 with five observations to the company's API manufacturing plant at Srikakulam, Andhra Pradesh (CTO VI).
The audit of the said plant by the USFDA has been completed on January 28, 2020.
We will address them comprehensively within the stipulated timeline, said the company.
The company on January 27 has posted a loss of Rs 569.7 crore in Q3FY20 due to impairment of non-current assets including generic Nuvaring drug.
The profit in the year-ago quarter was Rs 485.2 crore and Rs 1,092.5 crore in the July-September quarter.
Revenue during the quarter grew 13.86 percent year-on-year to Rs 4,383.8 crore, driven by growth across regions.
At 09:45 hrs, Dr Reddy’s Laboratories was quoting at Rs 3,150, down Rs 38.80, or 1.22 percent on the BSE.
The share touched its 52-week high Rs 3,249.50 and 52-week low Rs 2,065.30 on 28 January 2020 and 15 February 2019, respectively.
Currently, it is trading 3.31 percent below its 52-week high and 52.14 percent above its 52-week low.
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