Dr Reddy's Laboratories has recalled some batches of four products from its key US market that were observed to contain some oversized tablets.
The recalled products are Citalopram 40 mg (in bottles of 100 tablets), Fexofenadine 180 mg (bottles of 500), Pravastatin 10 mg (bottles of 90 and 500) and Risperidone 25 mg (bottles of 500).
Citalopram is used to treat major depression associated with mood disorders and anxiety, Fexofenadine is for treating hay fever and allergies, Pravastatin for lowering cholesterol and preventing cardiovascular disease and Risperidone for treating schizophrenia.
The US accounts for 35 per cent of Dr Reddy's turnover of close to Rs 6,945 crore, which includes active pharmaceutical ingredient sales.
The company in a statement said the products were being recalled voluntarily as a precautionary measure and with the knowledge of the US Food and Drug Administration.
Its investigation suggested that the issue was isolated to four products, one specific lot per product. “From the information we have, the financial impact is not material,” the company said in the statement.
“Only four lots or a few batches of these drugs have been recalled, and not all the four drugs have been withdrawn. So the development will not have much impact on the financial performance of Dr Reddy’s Lab,” added Ranjith Kapadia, vice-president, institutional research, HDFC Securities.
The company’s stock is currently trading at Rs 989.95, up 0.24 per cent from the previous close of Rs 987.6 on the Bombay Stock Exchange.
