Dr Reddy's Laboratories Won't Face SEC Enforcement Action Over Corruption Allegations

Dr Reddy's Laboratories Ltd has announced that the U.S. Securities and Exchange Commission (SEC) has concluded its investigation into allegations of improper payments to healthcare professionals in Ukraine and potentially other countries. The investigation, which was initiated in 2020, was conducted in accordance with the U.S. Foreign Corrupt Practices Act. Dr Reddy's has fully cooperated with the SEC, providing requested documents and information, and engaging in various submissions and presentations. The SEC has stated that it does not intend to recommend any enforcement action against the company at this time. However, the notice does not indicate exoneration or guarantee that no action may result from the investigation in the future.