Dr Reddy's Laboratories said that US Food and Drug Administration (USFDA) issued Form 483 with two observations after the inspection conducted at its formulations manufacturing facilities (FTO-7 & FTO-9) in Duvvada, Visakhapatnam, Andhra Pradesh.
The drug regulator conducted good manufacturing practice (GMP) inspection at its formulations manufacturing facilities (FTO-7 & FTO-9) in Duvvada, Visakhapatnam from 8 May 2024 to 17 May 2024.Upon completion, the drug maker has been issued a Form 483 with two observations, which it will address within the stipulated timeline.
Dr. Reddy's Laboratories is engaged in providing medicines. The firm operates in three segments: global generics, pharmaceutical services and active ingredients (PSAI) and proprietary products.
The drug major's consolidated net profit increased 36.26% to Rs 1,307 crore on 12.49% rise in revenues to Rs 7,083 crore in Q4 FY24 over Q4 FY23.
The counter shed 0.71% to end at Rs 5,799.25 on Friday, 17 May 2024.
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