SAN DIEGO, Aug. 12, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP is investigating potential violations of the federal securities laws by Dr. Reddy's Laboratories Ltd. (NYSE: RDY) and certain of its officers. Dr. Reddy's operates as an integrated pharmaceutical company worldwide.
On November 6, 2015, Dr. Reddy's reported that the Company received a "warning letter" from U.S. regulators over inadequate quality controls at three manufacturing plants producing drugs for cancer and other diseases. The next trading day, on November 9, the Company held an investor conference call to discuss the warning letter. On the call, it was further revealed that it was not just the three facilities singled out in the warning letter that was experiencing problems. In fact, the FDA required Dr. Reddy's to implement changes for every manufacturing site the Company operated. Specifically, Dr. Reddy's disclosed to investors that the FDA found deficiencies in its documentation practices and control, laboratory testing practices, adequacy of standard operating procedures, and incident investigation practices.
Then, on August 10, 2017, Dr. Reddy's disclosed that the Regulatory of Germany (Regierung von Oberbayern), following a recent inspection of the plant, did not renew the good manufacturing practices compliance certificate of a manufacturing unit of Dr. Reddy's German subsidiary Betapharm Arzneimittel, located in Hyderabad, India. Following these disclosures, the price of Dr. Reddy's plummeted.
If you have information that could assist in this investigation, or if you are a Dr. Reddy's shareholder and are interested in learning more about the investigation or your legal rights and remedies, please contact Jim Baker (email@example.com) by email or by phone at 619-814-4471. If emailing, please include a phone number.
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Jim Baker, 619-814-4471
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