Dr.Reddy’s is among the top gainers on the BSE currently. The stock price rose over 6% to Rs.2328 and continues to remain firmly in the green.
There is finally some good news from the company. Its formulations manufacturing unit at Bachupally in Hyderabad, in April/17 had received 11 observations from the US FDA.
Post this, in an inspection conducted recently, the FDA has given its nod of approval. The company has received an establishment inspection report as closure of the audit. This comes as a big relief for most investors who have been worried with the consistent receipt of Form 483 from the FDA.