Slump almost 7% intra-day after firm gets ‘six major observations’
Hyderabad, September 8:
The Regulatory Authority of Germany (Regierung von Oberbayern) has made “six major observations” after an audit of the formulations unit of drugmaker Dr Reddy’s Laboratories’ (DRL) at Duvvada, Visakhapatnam.
The audit concluded “with zero critical and six major observations”, Hyderabad-based DRL said in a filing to the BSE on Friday.
Reacting to the report, DRL’s scrip dipped 2.93 per cent on the BSE to end at ₹2,158.8 after slumping 6.96 per cent to ₹2,069.10 intra-day. On the NSE, shares of the company dropped 2.80 per cent to close at ₹2,162.50.
The products manufactured at the Duvvada facility are currently being exported to the European Union.
(This article was published on September 8, 2017)
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