Dr Reddys Labs shine on receiving EIR for Bachupally plant-3

The shares of Dr Reddy’s Laboratories went up by more than five per cent today after the company announced that it has received an EIR for its Bachupally plant-3, located in Telangana.

In an exchange filing made on Wednesday during the market hours, Dr Reddy’s Laboratories stated that the company has received an EIR in reference to the audit of its formulations manufacturing plant-3 at Bachupally, near Hyderabad in the state of Telangana.

The company further stated in the regulatory filing that the EIR has been granted to the company by US drug regulator-United States Food & Drug Administration (USFDA) for the above-mentioned facility, indicating a closure of the audit.

Dr Reddy is an integrated pharmaceutical company, which operates through its three businesses-pharmaceutical services & active ingredients, global generics and proprietary products. Besides, the company also offers a portfolio of products and services including APIs, custom pharmaceutical services, generics, biosimilars and differentiated formulations.

At the time of market closing on Wednesday, the stock of Dr Reddy’s Laboratories was trading at Rs 3,910.75, up by 5.71 per cent against its previous close of Rs 3,699.55. Its 52-week high is Rs 4,099.90 while, its 52-week low is Rs 2,352.00 on BSE.