Dr Reddy's up 4% after receiving EIR from USFDA for Srikakulam Unit I

In past one month, the stock has outperformed the market by surging 17% as compared to 2% decline in the S&P BSE Sensex

Dr Reddy’s Laboratories has moved higher by 4% to Rs 2,409 on BSE in intra-day trade after the company received an Establishment Inspection Report (EIR) from the US health regulator for a unit of its Srikakulam plant in Andhra Pradesh.

“The company's formulation Srikakulam plant (SEZ) Unit I, Andhra Pradesh, have received an Establishment Inspection Report (EIR) from the US FDA,” Dr Reddy’s Laboratories said in BSE filing.

On June 16, 2017, the pharmaceutical company had said the USFDA issued a Form 483 with one observation on completion of audit of the above-referred facility.

Last week, Dr