Dr. Reddy’s Laboratories witnessed a 2.3 percent decline in its stock price on October 13, influenced by a sluggish domestic market. This decline followed the completion of an inspection by the US Food and Drug Administration (USFDA) at the pharmaceutical company’s manufacturing facility, which resulted in the issuance of a Form 483 containing nine observations.
The inspection, a product-specific pre-approval inspection (PAI), was conducted at Dr. Reddy’s biologics manufacturing facility in Bachupally, Hyderabad, from October 4 to October 12. In response to the findings, Dr. Reddy’s stated, “We have been issued a Form 483 with nine observations, which we will address within the stipulated timeline.”
As of 01:43 p.m., the company’s shares are trading at Rs 5,476.85, reflecting a 0.96 percent decrease on the BSE.
