Dr.Reddy’s Labs rose over 9.5% to an intra day high at Rs.2498 and continues to remain firmly in the green. Its 52-week high and low is at Rs.3247 and Rs.1901.65 respectively.
The company informed the stock exchanges today that it has received the establishment inspection (EIR) report from USFDA for formulations manufacturing facility at Duvvada, Vishakhapatnam.
FDA has stated that the inspection has not yet been closed and the site’s status remains unchanged, but it released the EIR in order to be transparent about the regulatory process.
Dr.Reddy’s said that it is planning to request a re-inspection in 2018 after further discussion on scheduling with FDA.