Dr Reddy's gets FDA approval for Roche drug generic; shares at record high

November 7, 2014 10:46 AM

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MUMBAI (Reuters) - Indian drugmaker Dr Reddy's Laboratories Ltd said on Friday it has received final approval from the U.S. Food and Drug Administration (FDA) to make a cheaper version of Roche Holding AG's antiviral Valcyte, sending its stock to a record high.

The move comes after Ranbaxy Laboratories Ltd said on Thursday that FDA had stripped the company of its tentative approval to launch the first copy of the drug due to quality control issues at its manufacturing plants.

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