Mexican drug regulator imposes Rs 27 lakh penalty on Dr Reddy’s

Penalty imposed on the company for deviation from prescribed guidelines in filing intimation of import of a reference standard for one of the APIs

New Delhi: Dr Reddy’s Laboratories on Thursday said Mexico’s drug regulator imposed a fine of Rs 27 lakh on it for deviation from prescribed guidelines in filing intimation of import for a product.

The drug regulatory body of Mexico has imposed a penalty of Rs 27 lakh on the company for deviation from prescribed guidelines in filing intimation of import of a reference standard for one of the APIs, the Hyderabad-based firm said in a regulatory filing.

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Additionally, the fine was imposed due to an error in the date of the invoice and also in the name of the reference standard versus import license, it added. Shares of Dr Reddy’s Laboratories were trading 0.70 per cent down at Rs 1,237 apiece on BSE.