The United States Food & Drug Administration (USFDA) has completed the good manufacturing practice (GMP) inspection at Dr Reddy’s Laboratories’ (DRL) API manufacturing facility at Bollaram, Hyderabad. The inspection was conducted from June 12 to 16, 2023, and closed with zero observations.
Additionally, an inspection was conducted by the USFDA at the company’s formulations manufacturing facility in Srikakulam, following which DRL received the establishment inspection report (EIR). The agency has classified the inspection as voluntary action while concluding that the inspection is closed, DRL said in a regulatory filing with stock exchanges.
DRL reported a consolidated net profit of Rs 959 crore for the fourth quarter of FY23, increasing multi-fold on a year-on-year basis, from Rs 87 crore in the corresponding quarter of last fiscal, driven by growth in North America, Europe and India markets. The consolidated revenue from operations stood at Rs 6,297 crore compared to Rs 5,436 crore, registering a jump of 16%.
