Dr Reddy’s Lab shares hit one-year low; down nearly 5%

By
Daily Excelsior
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NEW DELHI, Mar 9:  Shares of Dr Reddy’s Laboratories today fell by nearly 5 per cent after the company received 13 observations from the US health regulator for its formulation manufacturing facility at Duwada, Visakhapatnam.
The stock went down by 4.6 per cent to Rs 2,720 — its 52-week low level — on BSE.
On NSE, it slipped 4.64 per cent to hit its one-year low of Rs 2,714.50.
The stock was the worst performer among the bluechips on both the Sensex and Nifty
“The audit of company’s formulation manufacturing facility at Duwada, Visakhapatnam, by the USFDA, has been completed on March 8, 2017. The company has been issued Form 483 with 13 observations, which the company is addressing,” Dr Reddy’s Laboratories said in a BSE filing.
The firm, however, did not specify the observations. (PTI)

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