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Drugmaker Dr.Reddy's Laboratories Ltd's shares fell as much as 8% to Rs 2,351.20 , their lowest since February 15. However, the stock recouped some of the losses in the afternoon session. At 2 p.m, the stock was being quoted at Rs 2,501.05, down by Rs 56.95 or 2.23% on the BSE
The company said its generic versions of multiple sclerosis drug Copaxone and female contraceptive device Nuvaring get complete response letter from U.S. Food and Drug Administration (USFDA) and it is preparing its response
A complete response letter from FDA signals that the regulator will not approve an application, according to its website
DrReddy is among the top drags on Nifty Pharma index, which is down 2.5% in a broader market that rose 1%
The stock has fallen 2.3% as of last close this year
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