Plants at Dr Reddy's Lab to be re-audited
Shital Jibhe / 12 Jan 2017
Dr Reddy's Laboratories closed at Rs 3,008.50 down about 1.12 per cent. The fall was observed close to the news that US Food and Drug Administration (USFDA) will re-audit the company's three manufacturing plants at Srikakulam, Miryalaguda and Duvvada.
Dr Reddy's Laboratories closed at Rs 3,008.50 down about 1.12 per cent. The fall was observed close to the news that US Food and Drug Administration (USFDA) will re-audit the company's three manufacturing plants at Srikakulam, Miryalaguda and Duvvada.
USFDA, after finding several violations with regard to current good manufacturing practices, had sent a warning letter.
USFDA had already inspected the plants in November 2014, January 2015 and in February 2015.However, Dr Reddy's Laboratories reported in a presentation on their website that "Re-audit has been scheduled for first quarter of 2017". All the commitments have been completed, as part of the warning letter response, it added.
In a BSE filing, the pharma major today written that "scheduling of audit by the USFDA is a usual activity in the normal course of pharmaceutical industries' business operations".
Also, it was observed that the entire pharma sector reeled under in pressure on Thursday after the speech of US President-elect Donald Triump's on Wednsday.
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