Dr Reddy’s Labs jumps 4.5% as Andhra formulation unit receives EIR

Chennai: Shares of Dr Reddy’s Laboratories jumped over  per cent in Thursday’s trade after the drug maker said that it has received an Establishment Inspection Report (EIR) from the USFDA for Unit II of its formulation facility at Srikakulam Plant (SEZ), Andhra Pradesh.

The company had in May told stock exchanges that an audit of Unit II of Andhra Pradesh-based Srikakulum Plant (SEZ) by USFDA completed with zero observations.

The scrip gained 4.5 per cent to hit a high of Rs 2424.70 on BSE.

The domestic drug maker have been facing regulatory hurdles of late.
Earlier this month, the regulatory authority of Germany issued six major observations related to Good Manufacturing Practices (GMP) for Indian drug major Dr Reddy’s plant in Vishakapatnam.

(Gaurav Yadav, The Newsroom Agenda)