The Share and Stock Market is one of the most important ways for companies to raise their money through shares, and the objective of this blog is to provide you daily intraday news regarding stock market. You have arrived at the right place and you'll find a lot of information here on intraday news updates— basic concepts, strategies for buying and selling, time of entry and exit and a lot more.
Dr Reddy's says U.S. FDA raises fresh concerns at Srikakulam drug plant
MUMBAI - India's Dr Reddy's Laboratories Ltd said on Tuesday that the U.S. Food and Drug Administration has outlined two more concerns with the company's Srikakulam drug-making plant after an inspection of the facility.
Dr Reddy's, which derives a majority of its sales from the United States, said in statement that it had received an inspection letter known as 'form 483' from the FDA about the Srikakulam plant and was addressing the concerns.
It did not say what the FDA observations were, and the FDA typically does not make such letters public. The Srikakulam plant was one of Dr Reddy's main facilities for producing active pharmaceutical ingredients (APIs) but production was hit after the FDA issued a warning over inadequate quality control practices there in 2015.