Dr. Reddy's Falls Most in 11 Years on U.S. FDA Warning
- FDA issued warning letter over compliance issues on Nov. 5
- FDA warning for pharma ingredient, oncology product facilities
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Dr. Reddy’s Laboratories Ltd. plunged, falling the most in 11 years after receiving a warning letter from the U.S. Food and Drug Administration over manufacturing facilities making pharmaceutical ingredients and oncology products.
The warning letter was related to the company’s facilities making active pharmaceutical ingredients in Srikakulam, Andhra Pradesh and Miryalaguda, Telangana in southern India as well as an oncology products facility, the company, India’s second largest drugmaker, said in a statement today.