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HindustanTimes Wed,27 Aug 2014

Ranbaxy shares fall after US drug recall

Reuters  Mumbai, March 10, 2014
First Published: 10:48 IST(10/3/2014) | Last Updated: 10:53 IST(10/3/2014)

Shares in Ranbaxy Laboratories Ltd <RANB.NS> fell as much as 3.8 per cent 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.

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Ranbaxy confirmed the recall of select batches of the drug, a generic version of Pfizer Inc's <PFE.N> 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 <4568.T>, were down 2.9 percent at 9:20 a.m., underperforming a 0.3 percent fall in the Nifty.

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