Dr Reddy's Lab dips over 13 per cent on USFDA warning

Posted By: Religare
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Shares of Dr Reddy's Lab fell over 13 per cent on Bombay Stock Exchange (BSE) after the company received a warning letter issued by the USFDA dated November 5 pertaining to its API manufacturing facilities situated at Srikakulam in Andhra Pradesh and Miryalaguda in Tamil Nadu and also at its Oncology formulation manufacturing facility located in Duvvada in Andhra Pradesh.

Reacting to the news, shares of company dropped 13.34 per cent to Rs 3685.45 apiece on the BSE.

Shares of the company dipped 13.45 per cent to Rs 3677.80 a piece on National Stock Exchange.

Meanwhile, the broader benchmark BSE Sensex was trading at 26,326.18, up 21.98 points, or 0.08 per cent, at 11:10 hours.

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