Dr Reddy's Lab Shares Crash on US Regulator's Warning Letter

Shares in Dr Reddy's Lab crashed around 15 per cent on Friday after the drugmaker said it has received a warning letter from US Food and Drug Administration over inadequate quality control procedures at three manufacturing plants in India. Dr Reddy's, India's second largest drugmaker by sales, was the top Nifty loser. (Read: Dr Reddy's Gets FDA Warning on Three Drug Plants) Two active pharmaceutical ingredient (API) manufacturing u...