Dr Reddy's Labs hits an all-time high after US FDA issues EIR to its Hyderabad facility

Dr Reddy's Lab Share Price: Dr Reddy's Laboratories hit an all-time high of Rs 6232.15 on BSE on Monday (February 12, 2024) after the pharma firm received an Establishment Inspection Report (EIR) by the US FDA for its Bachupally, Hyderabad, facility.

The stock of the large-cap pharma company ended the trading session on Monday up by Rs 2.56 per cent, or Rs 157.50, at Rs 6309.95. 

After closing at Rs 6152.45 on Friday evening, the stock of the company started its journey on Monday at Rs 6200.05. It jumped to its all-time high minutes after starting the session on Monday.  

Informing about the United States Food & Drug Administration (US FDA) to bourses, Dr Reddy's Laboratories said, "In furtherance to our intimation dated October 28, 2023, on the inspection conducted by the United States Food & Drug Administration (USFDA) at the Company’s formulations manufacturing facility (FTO-3) in Bachupally, Hyderabad, we wish to inform you that the Company has received the Establishment Inspection Report (EIR). The USFDA has classified the inspection as Voluntary Action Indicated (VAI) and concluded that the inspection is "closed" under 21 CFR 20.64(d)(3)."