Pharma major Dr Reddy's Laboratories shares fell 2.6 percent intraday Friday after its Medak unit has received five observations from the US health regulator. The stock price, however, recovered a bit to close down 0.7 percent at Rs 2,130.45 on the BSE.
The US Food and Drug Administration has issued a Form 483 with five observations for company's Medak unit in Telangana.
These observations are related to procedures and facility maintenance. "We will address them comprehensively within the stipulated time," it said.
The company informed exchanges that the audit of its API Hyderabad plant 3 at Medak district, by the USFDA has completed today.
At 15:24 hours IST, the stock price was quoting at Rs 2,108.40, down Rs 37.10, or 1.73 percent on the BSE.
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