Indian pharmaceutical giants under USFDA scanner again

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Indian pharmaceutical giants under USFDA scanner again
Indian drug majors have once again come under the scanner of US Food and Drug Administration (US FDA) for violating the good manufacturing practices and this time the Ranbaxy Laboratories is accompanied by Strides Arcolab, a Business Standard report said.

Ranbaxy, which recently agreed to pay penalty of USD 500 million to USFDA for violating manufacturing standards at two of its Indian plant, is now under the lens for another Indian plant situated at Mohali in Punjab. According to the buzz, USFDA has issued import alert on company's Mohali plant, sending the stock down by 35 per cent in just one day on Monday.

Also, Strides Arcolab has got a warning for violation of manufacturing norms at its sterile manufacturing facility, putting at risk the company's USD 1.8-billion pending deal with Pennsylvania-based Mylan Inc. The stock of Strides also slipped on Monday to close down by 3.4 per cent.

Experts said that it will be a huge blow to Ranbaxy as future product launches from Mohali now remain under dark clouds. The import ban on Mohali will make it difficult for the company to go ahead with the launches on time.

Dion Global Solutions Ltd.

Story first published: Tuesday, September 17, 2013, 9:10 [IST]
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