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India's Sun Pharma expects Ranbaxy business to be profitable in short term

MUMBAI (Reuters) - India's Sun Pharmaceutical Industries Ltd <SUN.NS> Managing Director Dilip Shanghvi said he expects Ranbaxy Laboratories Ltd <RANB.NS> to become profitable in the short term. Sun said it will buy Ranbaxy in a $3.2 billion all-share deal, creating the world's fifth-largest generic drug maker from two firms struggling with quality issues in the lucrative United States market.

India's Ranbaxy slumps, Sun Pharma surges on $3.2-billion acquisition

MUMBAI (Reuters) - Shares in India's Ranbaxy Laboratories Ltd <RANB.NS> fell as much as 3.2 percent on profit-taking after Sun Pharmaceutical Industries Ltd <SUN.NS> said it will buy the company in a $3.2 billion all-share deal, creating the world's fifth-largest generic drug maker. Ranbaxy shares had surged 32.6 percent in six consecutive sessions of gains till Friday's close. Sun Pharmaceutical shares rose as much as 4 percent.

India's Sun Pharma buys troubled drugmaker Ranbaxy in $4 billion deal

MUMBAI, India - India's Sun Pharmaceutical Industries says it is buying troubled generic drugmaker Ranbaxy Laboratories in a $4 billion all-stock transaction. The combined company will be India's biggest pharmaceutical firm, with annual revenue estimated at $4.2 billion. Sun Pharma's shares rose 1.7 per cent Monday. Ranbaxy is the leading drugmaker in India's $26 billion generic pharmaceutical industry, but it has faced penalties from U.S. regulators for years. The U.S. has banned imports of drugs from two of its factories because of concerns over quality control.

Indian drug maker Sun to buy troubled peer Ranbaxy for $4.0 bln

Top Indian drug giant Sun Pharmaceutical Industries said Monday it had agreed to buy its troubled peer Ranbaxy for $4.0 billion in stock, ending its ill-fated six-year control by Japan's Daiichi Sankyo. The deal will create India's biggest drugs manufacturer by far and leave Daiichi Sankyo with a significant stake in the combined entity. The United States, one of Ranbaxy Laboratories' biggest markets, has slapped import bans on Ranbaxy's manufacturing plants for failing to meet "good manufacturing practices".

Asian stock markets vacillate on Wall Street cues, weak China data

MUMBAI, India - Asian stock markets vacillated Thursday as investors waiting to see if weak Chinese economic data might prompt new economic stimulus also weighed a sell-off on Wall Street. Japan's Nikkei was up 1 per cent to 14,622.89 while Hong Kong's Hang Seng shed 0.2 per cent to 21,842.89. China's Shanghai Composite was down 0.8 per cent to 2,142.68. Australia's S

India generic drugmakers' woes put new focus on quality over price

By Bill Berkrot (Reuters) - A spate of regulatory warnings for India's generic drug manufacturers will add a new emphasis on the quality of such medicines in an industry long dominated by the ability to deliver treatments as cheaply as possible, analysts say. In the short term, that is expected to benefit larger global competitors, such as Teva Pharmaceutical Industries Ltd, Actavis Plc and Mylan Inc, which will be called upon to supply drugs no longer available from some of their rivals in India, they said.

Toyota suspends Indian auto output after labour unrest

Toyota said Monday it has suspended production at its two Indian auto assembly plants in response to threats against management and "deliberate" assembly-line stoppages, as efforts to hammer out a labour deal failed. The world's biggest automaker said the move will see the lock-out of about 6,400 employees at the factories in southern India. Company and union officials had been trying to sign a new contract for the past 10 months, with the local government helping mediate negotiations.

Toyota suspends Indian auto output after labour unrest

Toyota said Monday it has suspended production at its two Indian auto assembly plants in response to threats against management and "deliberate" assembly-line stoppages, as efforts to hammer out a labour deal failed. The world's biggest automaker said the move will see the lock-out of about 6,400 employees at the factories in southern India. Company and union officials had been trying to sign a new contract for the past 10 months, with the local government helping mediate negotiations.

India's Sun Pharma hit by US import ban, shares plunge

US regulators slapped an import ban on some products of top Indian drugmaker Sun Pharma, sending the firm's shares tumbling Thursday and dealing a fresh blow to the nation's beleaguered generics industry. The US Food and Drug Administration (FDA) announced an "import alert" late Wednesday on drugs made by Sun at one of its plants in western India over failure to meet "good manufacturing practices".

FDA bans imports from Sun Pharma plant in India crackdown

By Zeba Siddiqui and Sumeet Chatterjee MUMBAI (Reuters) - The U.S. Food and Drug Administration (FDA) has banned imports from Indian generic drugmaker Sun Pharmaceutical Industries Ltd's plant at Karkhadi in the western state of Gujarat, in the latest quality blow for India's drug sector.
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