Dr Reddys Laboratories Ltd Adr (RDY)

Shares of Dr. Reddy's Laboratories Ltd. ADR (RDY) dropped by 5.81% from $68.86 to $64.86 in the trading on Monday, December 11, 2023. The reason why RDY is down today is due to the U.S. Food and Drug Administration (FDA) issuing three observations for Dr. Reddy's Telangana plant in India, the company's facility that contributes around 30% of its U.S. revenue. This news represents the steepest stock decline since mid-August. In summary, RDY's shares fell notably on FDA observations related to its Telangana facility, highlighting the impact of regulatory matters on stock performance in the pharmaceutical sector.