The Hyderabad-based company is an outlier among large pharmaceutical producers, having seen a jump in its stock price over the previous year
Dr Reddy's, Lupin, Sun Pharma and Cadila Healthcare outperformed the local industry growth in recent months, a trend expected to continue
A CRL is issued when the FDA decides not to approve new or generic drug application for marketing in its present form
Earnings were driven by one-off gains
A combination of factors, including an 8% growth in global generics business and the other operating income drove the growth in net profit of Dr Reddy's during the first quarter ended June, 2019
Allegra-D 12 HR is a trademark of Aventisub II Inc
Divestment of derma assets, lower operating costs helped firm post higher profit growth during the quarter
The pharma major is on a restructuring drive
Sources said the company got approval earlier this month for generic Clopidogrel, which is used primarily to prevent blood clotting and acts against cardiovascular problems
Shares of Dr Reddy's Laboratories were trading at Rs 2,640 per scrip on BSE, up 2.11 per cent from their previous close
Such recalls are for dangerous or defective products that predictably can cause serious health problems
This is the second plant to come out of the warning letter after multiple inspections conducted by the US drug regulator
The site was again audited in October 2018, Dr Reddy's said.
Gains hinge on key launches; US FDA issues in some plants another hurdle
Litigation issues, more competition could mean diminishing returns
The stock dipped 6% to Rs 2,536 on the BSE in intra-day trade on back of heavy volumes.
The stock surged 8% to Rs 2,652 on the BSE in early morning trade, quoting near to its 52-week high of Rs 2,687 touched on September 28, 2018 in intra-day deal.
The stock of the pharmaceutical company was up 3% at Rs 2,546, trading higher for the sixth straight day, gaining 6% from Rs 2,407 on November 9, as compared to 1% rise in the S&P BSE Sensex.
The stock slipped 7% to Rs 2,425 on the BSE after the pharmaceutical company said US health regulator issued eight observations after inspecting its formulations plant at Duvvada, Visakhapatnam.
The stock gained 6.5% to Rs 2,559 after the company reported a good operational performance in September quarter, on account of lower R&D, higher other income, financial income, and lower tax.