Legal6 Mar 2026, 05:21 pm
Dr Reddys Laboratories Ltd Receives Closure Letter from US Department of Justice in FCPA Inquiry
AI Summary
Dr Reddys Laboratories Ltd has announced that it has received a letter from the U.S. Department of Justice, Criminal Division, Fraud Section, stating that the Department has closed its inquiry under the Foreign Corrupt Practices Act (FCPA). The inquiry was initiated following an anonymous complaint about allegations of improper payments to healthcare professionals in Ukraine and potentially in other countries. The Company had engaged a U.S. law firm to conduct a detailed investigation into the matter. The SEC had previously informed the Company that it did not intend to recommend any enforcement action. The Company has disclosed these developments to the Securities Exchange Board of India (SEBI) and the stock exchanges.
Key Highlights
- Dr Reddys Laboratories Ltd has received a closure letter from the US Department of Justice in FCPA inquiry.
- The inquiry was initiated following an anonymous complaint about allegations of improper payments to healthcare professionals in Ukraine and potentially in other countries.
- The Company had engaged a U.S. law firm to conduct a detailed investigation into the matter.
- The SEC had previously informed the Company that it did not intend to recommend any enforcement action.
- The Company has disclosed these developments to the Securities Exchange Board of India (SEBI) and the stock exchanges.