US IRS imposes $32,350 penalty on Dr. Reddy's US arm
The U.S. Internal Revenue Service has levied a penalty of $32,350.20 on Dr. Reddy's Laboratories Inc., a step-down wholly owned U.S. subsidiary of pharma major Dr. Reddy's Laboratories. The penalty is due to misclassification of fiscal year reference at the time of tax payment, the Hyderabad-based parent company said, citing an order from the IRS, Cincinnati. It received the final transcript dated September 25, 2026 on October 2, 2026. In a filing on Saturday, the company said there is no material impact on its financials or operations.