US law firms threaten action against Dr. Reddy’s Laboratories for quality-related lapses
DSIJ Intelligence / 14 Aug 2017
Dr. Reddy’s Laboratories has found itself in hot waters following the threat of a class action suit by US-based law firms for non-disclosure of quality-related lapses at its Indian facilities.
Dr. Reddy’s Laboratories has found itself in hot waters following the threat of a class action suit by US-based law firms for non-disclosure of quality-related lapses at its Indian facilities. This is the second blow of its kind after the German regulatory authority having earlier revoked good manufacturing practices (GMP) clearance related to the company’s formulations manufacturing Unit 2 plant in Hyderabad.
Meanwhile, the stock traded marginally in the green zone, gaining 0.49% at Rs 2,020.95 per share. The stock on NSE attracted a traded volume of 1,64,458 shares and a traded value of 3280.59 lakh. The company has been maintaining a dividend payout of 18.93% and delivered growth of 7.37% over the past five years. On a yearly basis, the stock has lost 32.49% returns and has underperformed the BSE Sensex index and BSE Healthcare index.
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