Dr Reddy's falls after getting 8 observations from USFDA for its Duvvada facility

21 Aug 2019

Dr. Reddys Laboratories is currently trading at Rs. 2524.00, down by 30.90 points or 1.21% from its previous closing of Rs. 2554.90 on the BSE.

The scrip opened at Rs. 2500.00 and has touched a high and low of Rs. 2526.00 and Rs. 2490.30 respectively. So far 20652 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 2965.20 on 02-May-2019 and a 52 week low of Rs. 2065.30 on 15-Feb-2019.

Last one week high and low of the scrip stood at Rs. 2567.50 and Rs. 2466.00 respectively. The current market cap of the company is Rs. 41877.30 crore.

The promoters holding in the company stood at 26.76%, while Institutions and Non-Institutions held 44.50% and 14.44% respectively.

US Food and Drug Administration (USFDA) has issued eight observations to Dr Reddy's Laboratories after the inspection of Formulations Manufacturing plant (Vizag SEZ Plant 1) at Duvvada, Visakhapatnam in Andhra Pradesh. The company has been issued Form 483 with 8 observations. The company will address them comprehensively within the stipulated timeline.

Dr. Reddy's Laboratories is a multinational pharmaceutical company based in Hyderabad, Telangana in India. It manufactures and markets a wide range of pharmaceuticals in India and overseas.

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