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An announcement from Dr. Reddy’s Laboratories Ltd. ( (IN:DRREDDY) ) is now available.
Dr. Reddy’s Laboratories has received a Post-Application Action Letter from the US Food and Drug Administration following a pre-approval inspection of its biologics manufacturing facility at Bachupally, Hyderabad. The company said it will work closely with the US regulator to address the queries raised, underscoring the importance of resolving these compliance issues for the approval timeline of its biologics products and for maintaining its position in the highly regulated U.S. pharmaceutical market.
More about Dr. Reddy’s Laboratories Ltd.
Dr. Reddy’s Laboratories Ltd. is an India-based global pharmaceutical company engaged in the development, manufacture and marketing of a broad range of generic and branded medicines, including biologics. With key manufacturing facilities around Hyderabad and listings in India and on the New York Stock Exchange, the company focuses on supplying regulated markets such as the United States, where compliance with stringent USFDA standards is critical to its growth strategy.
Average Trading Volume: 137,467
Technical Sentiment Signal: Hold
Current Market Cap: 1008.9B INR
Learn more about DRREDDY stock on TipRanks’ Stock Analysis page.