Dr Reddy's Faces Penalty from Mexican Drug Regulator

Dr Reddy's Laboratories announced a penalty of approximately Rs 28 lakh imposed by the Mexican drug regulator for not adhering to the guidelines for importing a reference standard for an active pharmaceutical ingredient. This news followed with a 0.39% increase in the company's share price on BSE.

Dr Reddy's Laboratories on Thursday reported that the Mexican drug regulator has levied a fine of around Rs 28 lakh. The fine, amounting to MXN 6,51,420 (Rs 28 lakh), was imposed due to deviations from prescribed guidelines for notifying the import of a reference standard for one of their active pharmaceutical ingredients, the Hyderabad-based pharmaceutical giant revealed in a regulatory filing.

Despite this, shares of Dr Reddy's Laboratories saw an uptick, trading 0.39% higher at Rs 6,720 per share on the BSE.

(With inputs from agencies.)