Devdiscourse
Development News Edition
Give Feedback
write for Us

Dr Reddy's shares tumble nearly 7 pc on USFDA observations for Duvvada plant

At NSE, shares of the company slumped 6.60 per cent to Rs 2,423.05.


Devdiscourse News Desk delhi India
Updated: 31-10-2018 12:41 IST
Dr Reddy's shares tumble nearly 7 pc on USFDA observations for Duvvada plant

As per USFDA, a Form 483 is issued to a firm's management at the conclusion of an inspection when the investigator has observed any conditions that in its judgment may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts.

Shares of Dr Reddy's Laboratories Wednesday tumbled nearly 7 per cent after the company said the US health regulator has issued eight observations after inspecting its formulations plant at Duvvada, Visakhapatnam.

The scrip after making a weak opening further tumbled 6.64 per cent to Rs 2,425 on BSE.

At NSE, shares of the company slumped 6.60 per cent to Rs 2,423.05.

"The audit of our formulations manufacturing facility at Duvvada, Visakhapatnam, by the US Food and Drug Administration (USFDA), has been completed. We have been issued a Form 483 with eight observations, which we are addressing," the company said in a regulatory filing Tuesday.

As per USFDA, a Form 483 is issued to a firm's management at the conclusion of an inspection when the investigator has observed any conditions that in its judgment may constitute violations of the Food Drug and Cosmetic (FD&C) Act and related Acts.

It notifies the company's management of objectionable conditions.

(With inputs from agencies.)

COUNTRY : India

POST A COMMENT