India's Dr Reddy's rises as analysts project no material impact from US FDA observations
BUZZ-India's Dr Reddy's rises as analysts project no material impact from US FDA observations ** Shares of Dr. Reddy's Laboratories REDY.NS rise 4.4% to 1,409.30 rupees
** The pharmaceuticals co said the U.S. Food & Drug Administration has issued a form-483 with seven observations to its biologics manufacturing facility in Bachupally, Hyderabad
** Brokerage Morgan Stanley says it does not expect a material impact on REDY's financials due to the observations
** "We do not see any material incremental delays in launches of key biosimilars," Morgan Stanley says
** Nomura says company's clarification that most observations relate to new block at the facility suggests that the long-standing contamination concerns related to the old block may have been substantially addressed
** Adds that company expressed confidence in resolving observations and remains optimistic of approval and launch in Q4 of FY27
** YTD, REDY stock up ~11%
(Reporting by Vijay Malkar)
Recent news on Dr. Reddy's Laboratories
See all newsDr Reddy's rolls out new generic Ozempic brands to ease Obeda supply hit
Dr Reddy's beats quarterly profit estimate on India market lift (updated)
India's Dr Reddy's beats quarterly profit estimate
Brief: Dr. Reddy's Q2 Consol Net PAT 9.25 Billion Rupees
Dr Reddy's rolls out new generic Ozempic brands amid Obeda supply disruption