Dr Reddys shares up over 5% after getting EIR for Vizag plant

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

Rs 2,498.

Dr Reddy's was the top performer among the BSE's 30-share

index components.

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.)