Advertisement

HindustanTimes Thu,21 Aug 2014

Ranbaxy says not received any FDA communication on import alert

Reuters  Mumbai, September 16, 2013
First Published: 13:20 IST(16/9/2013) | Last Updated: 13:21 IST(16/9/2013)

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.

Advertisement

"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.


Advertisement
more from Business

Indian economy to grow 5.8% in 2014/15: Finance secretary Mayaram

India's economy is on course to grow by around 5.8% in the fiscal year to March 2015, the finance ministry's top official said on Thursday, expressing confidence that 'green shoots' of recovery were taking hold.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved