Ranbaxy dips 18 pc on USFDA charges of data falsification

Shares of Pharma major Ranbaxy nosedived 18 per cent on the Bombay Stock Exchange, a day after the US health regulator FDA charged the firm with falsification of data and test results in its drug applications

Shares of pharma major Ranbaxy nosedived 18 per cent on the Bombay Stock Exchange, a day after the US health regulator FDA charged the firm with falsification of data and test results in its drug applications.

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The scrip of Ranbaxy closed at Rs 169.95, down 18 per cent. During the day, the stock touched its intra-day low of Rs 168.55, down 22 per cent on the BSE.

Similar, movement was seen on the National Stock Exchange, where the scrip closed down 18.05 per cent to end the trade at Rs 169.85. It had touched an intra-day low of Rs 168.30.

A total of 2.10 crore shares of Ranbaxy changed hands on both the bourses.

Food and Drug Administration has also said that it may seek third-party audit for drug applications from Ranbaxy's Paonta Sahib plant in Himachal Pradesh, as it has found evidence of falsified data and test results in them.

Five months after banning import of Ranbaxy's 30 drugs to the US, the regulator said in a statement late last night that it was taking "new regulatory action against Ranbaxy's Paonta Sahib Plant in India" and has halted review of drug applications from the plant due to evidence on falsified data.

"To address the falsified data, the FDA has invoked its Application Integrity Policy (AIP) against the Paonta Sahib facility," it said.