Dr. Reddy's Laboratories Limited on Sunday alloted 1,873 shares worth Rs 9,365 to employees as stock options, the company announced through an exchange filing. The Board of Directors approved the allotment of shares worth Rs 5 on March 11.
The shares would be allotted under Dr. Reddy's Employees Stock Option Scheme, 2002. After this allotment the company has issued a total of 16,65,27,054 shares worth Rs 83,26,35,270. The shares will rank pari passu with the existing shares.
Dr. Reddy's Lab recalled 4,320 bottles of generic drug in US
On February 8, Dr. Reddy's lab initiated a recall of 4,320 bottles of Tacrolimus Capsules, a generic drug in the US due to a packaging error. The drug is used to prevent the body from rejecting a transplanted organ. New Jersey-based Dr Reddy's Laboratories Inc, a unit of the company, is recalling the affected lot due to "Presence of one Tacrolimus 1 mg capsule co-mingled in a bottle containing and labeled as Tacrolimus 0.5 mg capsules," USFDA said in its latest Enforcement Report.
Dr. Reddy's Lab shares
The shares of Dr. Reddy's Laboratories Limited on Friday closed at Rs 4,378.75, down by 50 per cent.
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