Dr Reddy surges on receiving EIR for Bachupally plant.
Sanket Dewarkar / 12 Dec 2017
Indian Pharma giant Dr. Reddy informed exchanges that it has received EIR (Establishment Inspection Report) from USFDA for its Bachupally plant.
Indian Pharma giant Dr. Reddy informed exchanges that it has received EIR (Establishment Inspection Report) from USFDA for its Bachupally plant.
In April 2017, USFDA (US Food and Drug Administration) has conducted an audit of Dr Reddy’s manufacturing facility at Bachupally. After completion of the same, the US drug regulator has issued Form 483 with 11 observations. The company said that these observations were procedural in nature.
The Bachupally plant with 3 units accounts for ~40% of the company's US sales.
The clearance of plant represents that the company has resolved all the observations issued by USFDA.
With this news, the stock of Dr. Reddy has surged by around 4 per cent and at 11:01 hours, the stock was quoting at Rs. 2,264.2 per share.
If you want to stay updated with the share market news today, keep a close watch on the indian stock market today with real time movements like sensex today live and overall stock market today trends. Investors tracking ipo allotment status, ipo news today, or the latest ipo india can also follow daily updates along with bse share price live data. Whether you are learning how to invest in stock market in india, preparing for a market crash today, or searching for the best stocks to buy in india, insights on top gainers today india, top losers today india, trending stocks india and long term stocks india help in making informed investment decisions.