The inspection has been classified as voluntary action indicated (VAI) and has been closed accordingly said the firm.
On 7 June 2024, USFDA had issued form 483 with four observations post inspection at its Andhra Pradesh facility. The good manufacturing practices (GMP) inspection was conducted from 30 May 2024 to 7 June 2024 at the API manufacturing facility.
Dr Reddy's Labs is engaged in providing medicines. The firm operates in three segments: global generics, pharmaceutical services and active ingredients (PSAI) and proprietary products.
The company’s consolidated net profit shed marginally to Rs 1,392.40 crore in Q1 FY25 as against 1,405 crore posted in Q1 FY24. However revenue from operations jumped 13.9% YoY to Rs 7,672.70 crore in Q1 FY25.
Shares of Dr.Reddy's Laboratories shed 0.23% to Rs 6,682on the BSE.