Dr Reddy's falls as firm gets 6 observations in Duvvada facility audit

The stock dipped 7% to Rs 2,066 on NSE in intra-day trade

Dr Reddy’s Laboratories dipped 7% to Rs 2,066 on the National Stock Exchange (NSE) in intra-day trade after the company said its formulations manufacturing facility in Duvvada, Vishakhapatnam, got zero critical and six major observations from the Regulatory Authority of Germany.

“The products manufactured at the facility are not currently exported to EU. The company will be submitting a corrective and preventive action plan (CAPA) to the authorities,” Dr Reddy’s Laboratories said in a statement.

The Regulatory Authority of Germany (Regierung von Oberbayern) concluded an audit on September 7, 2017.

The auditor has cautioned that the facility