Ranbaxy Laboratories

Ranbaxy shares dive after Japan parent says was misled

Agence France-PresseMay 23, 2013 04:46

Shares of Ranbaxy plunged Thursday after its Japanese parent accused former owners of the Indian firm of hiding key details about a US probe into the safety of drugs made by the generics giant. Last week, Ranbaxy Laboratories pleaded guilty in the United States to charges of making and distributing adulterated drugs at two Indian plants and agreed to a $500 million settlement.

Japan's Daiichi says key details 'concealed' in Ranbaxy sale

Agence France-PresseMay 22, 2013 15:30

The Japanese owners of Ranbaxy on Wednesday accused former shareholders of the Indian company of concealing key information about a US probe into the safety of medicines made by the New Delhi-based firm. Last week, Ranbaxy Laboratories pleaded guilty in the United States to charges of making and distributing adulterated drugs at its two Indian plants of Paonta Sahib and Dewas and agreed to a $500 million settlement.

India's Ranbaxy shares climb as US legal battle ends

Agence France-PresseMay 14, 2013 09:01

Shares in Ranbaxy climbed on Tuesday after US authorities slapped a $500 million fine on India's biggest drugmaker to settle a lengthy lawsuit over the sale of adulterated drugs in the United States. The case -- the largest-ever US drug safety settlement with a generic manufacturer -- ended eight years of criminal and civil investigations into the company, which is now majority-owned by Japan's Daiichi Sankyo. After opening down over four percent, Ranbaxy shares closed up 3.63 percent at 455.5 rupees as analysts said the decision would allow the firm to focus on the future.

India's Ranbaxy surprises with quarterly loss

Agence France-PresseFebruary 26, 2013 12:16

India's largest drug firm Ranbaxy reported Tuesday a sharp narrowing of its quarterly net loss but missed analyst forecasts for a profit after it was hit by product recall charges. The generics drug maker, majority-owned by Japan's Daiichi Sankyo, posted a net loss of 4.92 billion rupees ($91 million) for the three months to December, down from a loss of 29.83 billion rupees a year earlier. But analysts had expected Ranbaxy to be in the black for the fourth quarter and report a net profit of around 2.2 billion rupees, according to a poll by Dow Jones Newswires.