Dr Reddy’s Lab Gets EIR For 2 Facilities, Shares Jump 7%

Dr Reddy's Lab Gets EIR For 2 Facilities, Shares Jump 7%

New Delhi: Drug firm Dr Reddy’s Laboratories today said it has received establishment inspection report (EIR) from the US health regulator for a unit of its Srikakulam plant in Andhra Pradesh, following which its shares jumped as much as 7 per cent to Rs. 2,490 on National Stock Exchange.

The company has received EIR from the United States Food and Drug Administration (USFDA) for its formulations manufacturing facility at Srikakulam unit II, Dr Reddy’s said in a filing to BSE.

It, however, did not state if the US health regulator had made any observation in the EIR.

In a separate filing Dr Reddy’s Laboratories said it has received zero observations for its custom pharmaceutical services facility, technology development centre, at Miyapur in Hyderabad after audit of the facility by the USFDA.

Shares of Dr Reddy’s Laboratories were today trading at Rs. 2,488 in afternoon trade on NSE, up 5.80 per cent from previous close.