Advertisement

HindustanTimes Fri,19 Dec 2014

Ranbaxy shares fall 3.8% after US drug recall

Reuters  Mumbai , March 10, 2014
First Published: 10:20 IST(10/3/2014) | Last Updated: 10:23 IST(10/3/2014)

Shares in Ranbaxy Laboratories Ltd fell as much as 3.8% on Monday after the drug maker recalled more than 64,000 bottles of the generic version of a cholesterol-lowering drug in the United States after doseage mix-up was detected.

Advertisement

Ranbaxy confirmed the recall of select batches of the drug, a generic version of Pfizer Inc's Lipitor, but said the company had not received any product complaints.

Shares in Ranbaxy, India's biggest drugmaker by revenue and majority owned by Japan's Daiichi Sankyo Co Ltd, were down 2.9% at 9:20am, underperforming a 0.3% fall in the Nifty.


Advertisement
more from Business

Tata, Singapore Air venture Vistara to take off on January 9

Based in New Delhi, the full service Vistara will begin operations with a fleet of new Airbus A320-200s with 148 seats, Tata SIA Airlines Ltd said in a statement. Vistara will offer flights to Mumbai and Ahmedabad initially.
markets
Advertisement
Most Popular
Advertisement
Advertisement
Copyright © 2014 HT Media Limited. All Rights Reserved