For Quick Alerts
ALLOW NOTIFICATIONS  
For Daily Alerts

Ranbaxy falls another 7 per cent; drops 26 per cent in 2-days

|
Ranbaxy falls another 7 per cent; drops 26 per cent in 2-days
Shares in pharma major Ranbaxy continued to drop for a second day in a row with the stock falling as much as 7 per cent today, taking losses in 2-trading sessions to as much as 26 per cent.
 

The shares were last trading at Rs 315 on the National Stock Exchange (NSE).

Last week, The US FDA prohibited the company from manufacturing and distributing Active Pharmaceutical Ingredients from its facility in Toansa for FDA related drug products.

The Toansa facility is now subject to certain terms of a consent decree of permanent injunction entered against Ranbaxy in January 2012.

The decree contains, among other things, provisions to ensure compliance with current good manufacturing practice (CGMP) requirements at Ranbaxy facilities in Paonta Sahib and Dewas, India, as well as provisions to address data integrity issues at those facilities. In September 2013, the FDA added Ranbaxy's Mohali facility to the CGMP provisions of the decree.

"We are taking swift action to prevent substandard quality products from reaching U.S. consumers," said Carol Bennett, acting director of the Office of Compliance in the FDA's Center for Drug Evaluation and Research. "The FDA is committed to ensuring that the drugs American consumers receive - no matter where they are produced - meet quality standards and are safe and effective."

GoodReturns.in

Company Search
Get Instant News Updates
Enable
x
Notification Settings X
Time Settings
Done
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Goodreturns sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Goodreturns website. However, you can change your cookie settings at any time. Learn more