Dr Reddy's Faces Fine in Mexico for Regulatory Deviations

Dr Reddy's Laboratories has been fined Rs 27 lakh by Mexico's drug regulator for deviations in import filing guidelines related to a product. The fine is associated with errors in invoice dates and inconsistencies between the reference standard and import license.

Dr Reddy's Laboratories has been penalized by Mexico's drug regulatory authority, incurring a fine of Rs 27 lakh for deviations from prescribed filing guidelines related to the import of a reference standard. The Hyderabad-based pharmaceutical company disclosed this information in a regulatory filing on Thursday.

According to the filing, the penalty stemmed from inaccuracies found in the date of the invoice and mismatches between the name of the reference standard and the import license. Such discrepancies prompted the Mexican regulator to impose the fine on the Indian company.

Despite this development, shares of Dr Reddy's Laboratories saw a slight decline, trading down 0.70 per cent at Rs 1,237 per share on the Bombay Stock Exchange (BSE).

(With inputs from agencies.)