Thursday, November 19, 2015

Dr Reddy's Laboratories hits nine month low

Dr Reddy’s Laboratories has announced that it has received a warning letter from the US Food and Drug Administration ( US FDA) over quality control issues at three of its manufacturing facilities.

Warning letters are issued for violations of regulatory significance and these could lead to enforcement action such as import alerts, if not promptly and adequately corrected in voluntary compliance with the US drug laws by the companies.

Meanwhile, according to media reports, Lundin Law PC said it is investigating claims against Dr. Reddy’s Laboratories concerning possible violations of federal securities laws. The investigation is related to allegations that certain statements issued by Dr. Reddy’s were false and misleading concerning the company’s financial performance.

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