The scrip of Dr Reddy's Laboratories today rose by over 5 per cent after the company said it has received an establishment inspection report (EIR) from the US health regulator for its formulation manufacturing facility at Duvvada in Visakhapatnam.
The stock jumped 4.99 per cent to settle at Rs 2,390.85 on BSE. During the day, it went up sharply by 9.69 per cent to Rs 2,498.
Dr Reddy's was the top performer among the BSE's 30-share index components.
On NSE, shares of the company advanced by 5.26 per cent to end at Rs 2,394.15.
The company, however, said the US Food and Drug Administration has not closed the inspection and the manufacturing site's status remains unchanged.
"We have received the establishment inspection report (EIR) from the USFDA for the above mentioned facility. In the cover letter to the EIR, the USFDA has explained that inspection has not closed, and the site's status remains unchanged," Dr Reddy's said in a regulatory filing.
It further said: "The USFDA has released the EIR in order to be transparent about its regulatory process. We are planning to request a re-inspection in 2018 after further discussion on scheduling with the USFDA.
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