"This is to inform you that the United States Food and Drug Administration (USFDA) completed a Pre-Approval Inspection (PAI) at our FTO-9 manufacturing facility in Visakhapatnam, Andhra Pradesh," the company said in its filing. It added that it had "been issued a Form 483 with three observations, which we will address within the stipulated timeline."
Dr. Reddy's Laboratories shares closed at Rs 1,214.10 on Wednesday, down 2.06% from the previous close of Rs 1,239.65. The stock's movement on Thursday will be watched following the disclosure.
The company's filing did not specify the nature of the three observations. It also did not provide further details about the observations in the announcement. The company said it would address them within the stipulated timeline.
Dr. Reddy's Laboratories is a major multinational pharmaceutical company based in Hyderabad, India.
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