Business

Ranbaxy says not received any FDA communication on import alert

  • Reuters, Mumbai
  • |
  • Updated: Sep 16, 2013 01:21 IST

India's Ranbaxy Laboratories Ltd said on Monday it had not received any communication from the US Food and Drug Administration on an import ban on its Mohali factory in northern India.

"We are seeking information from the USFDA in this regard," the company said in a statement issued to the stock exchanges. The FDA slapped an "import alert" on the Mohali factory in northern India on Friday, saying the plant owned by India's biggest drugmaker by sales had not met so-called good manufacturing practices, the US regulator said on its website.

Shares in Ranbaxy plummeted on Monday, sinking as much as 32.6% to post their worst single day fall on the news.

 

also read

It’s official now! Indian economy grew faster than earlier estimate...

blog comments powered by Disqus