The scrip of Dr Reddy's
Laboratories today rose by over 5 per cent after the company
said it has received an establishment inspection report (EIR)
from the US health regulator for its formulation manufacturing
facility at Duvvada in Visakhapatnam.
The stock jumped 4.99 per cent to settle at Rs 2,390.85
on BSE. During the day, it went up sharply by 9.69 per cent to
Dr Reddy's was the top performer among the BSE's 30-share
On NSE, shares of the company advanced by 5.26 per cent
to end at Rs 2,394.15.
The company, however, said the US Food and Drug
Administration has not closed the inspection and the
manufacturing site's status remains unchanged.
"We have received the establishment inspection report
(EIR) from the USFDA for the above mentioned facility. In the
cover letter to the EIR, the USFDA has explained that
inspection has not closed, and the site's status remains
unchanged," Dr Reddy's said in a regulatory filing.
It further said: "The USFDA has released the EIR in order
to be transparent about its regulatory process. We are
planning to request a re-inspection in 2018 after further
discussion on scheduling with the USFDA."
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)