- Tag results for Dr reddy
Most Asian markets were trading higher as solid economic data from the United States and Germany reinforced investors' optimism.
Meanwhile, BSE earlier in the day sought clarification from the company on reports that Dr Reddy's shares fell on the buzz of issues raised in EIR for Duvvada plant.
Dr Reddy's Laboratories today said it has received an establishment inspection report from the US health regulator for its formulation manufacturing facility at Duvvada in Visakhapatnam.
Three days before Dr. Reddy's Laboratories Ltd announced quarterly results this summer, a message circulated to a private WhatsApp group saying the Indian drugmaker would not post good numbers.
The drug major had posted a net profit of Rs 308.9 crore in July-September a year ago, DRL said in a filing to BSE.
The company said it has received an establishment inspection report from FDA for a unit at its Srikakulam formulations facility.
In terms of equity volume, 1.57 lakh shares of the company were traded on BSE and over 17 lakh shares changed hands on NSE during the day.
US District court has issued a judgement in favour to the drug firm, ruling that proposed generic version of Suboxone sublingual film does not infringe the patent of Indivior.
DRL has said a law firm representing a purported investor has filed a class action suit in a USA court against the company and its key executives for alleged violations of American federal securities.
Dr Reddy's Laboratories today said it has out-licensed the future development, manufacturing and commercialisation rights of its topical high potency steroid DFD-06 to Encore Dermatology Inc.
A recent government notice that said the company is selling a high blood pressure drug that lacks the pricing regulator's approval.
The FDA also found violations of manufacturing standards at Dr Reddy's Laboratories Ltd's drug plant, also in Vizag, during an inspection.
Companies are allowed to hike prices of essential drugs by up to 10 per cent in a year.
The patent infringement case was over an anti-nausea injection Aloxi meant for dealing with the side-effects of chemotherapy.
A notification by the FDA said recalls are voluntarily initiated by the two companies.