Dr. Reddy’s receives EIR for Mexico API plant
Dr. Reddy’s Cuernavaca (Mexico) plant has received an Establishment Inspection Report (EIR) from the USFDA, m
edia reports have suggested. Cuernavaca is an active pharmaceutical ingredient (API) plant.
Dr. Reddy’s subsidiary Industrias Quimicas Falcon De Mexico, which contributed Rs374.6cr (2.6% of consolidated revenue) in FY17 and Rs21cr in PAT (1.6% of consolidated PAT), operates this unit.
In 2010, the USFDA had inspected this facility and issued a warning letter in 2011. Subsequently, USFDA also issued an import alert on this plant. In 2012, the import alert was lifted. The plant underwent inspection in July 2017 and received zero observations.
Dr. Reddy’s Laboratories is currently trading at Rs2,096.60, down Rs25.2, or 1.19%, from its previous close of Rs2,121.80 on the BSE.