India's Dr Reddy's falls after getting CRL from US FDA

ICICI Securities

01/01/2026 06:46

** Dr Reddy's REDY.NS stock falls nearly 2% to 1,250 rupees, its lowest since Dec 11, 2025

** Co receives complete response letter (CRL) from US FDA on inspection observations at the Alvotech facility

** CRLs are issued when the FDA completes its review cycle and determines that it cannot grant an approval of an application in its current form.

** Brokerage ICICI Securities says while no concerns were raised on efficacy or safety,  the approval delay could result in a loss of early-mover or near-term commercial opportunity in the U.S.

** REDY rated "hold" on avg by 38 analysts covering it; median PT at 1305 rupees

** Stock lost 8.43% in 2025

(Reporting by Komal Salecha)

((Komal@thomsonreuters.com;))