Ranbaxy shares fall 3.8% after US drug recall

  • Reuters, Mumbai
  • |
  • Updated: Mar 10, 2014 10:23 IST

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.

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.

 

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