The drug is licensed to Ranbaxy Laboratories from Cipher Pharmaceuticals Inc of Mississauga, Ontario. It is currently protected by two issued patents listed in the FDA's approved drug products list, which expire in September 2021, the company said in a statement.
While Ranbaxy tested the lot in question and found it to have met the specified standards, it is recalling the product on the US health regulator Food and Drug Administration's recommendation, the company said.
Jubilant Organosys on Friday announced the acquisition of US-based Trinity Laboratories Inc along with its wholly-owned subsidiary Trigen Laboratories Inc for $12.25 million.
On December 27 last year, Pfizer had moved to the US District Court for the District of Delaware against Dr Reddy's Laboratories Ltd and Dr Reddy's Laboratories Inc for infringement of Pfizer's crystalline atorvastatin patent.
In addition to the US drug regulator, Food and Drug Administration, and rival pharma majors that appear keen to launch litigation against Indian company Ranbaxy, a US citizen has joined the bandwagon by filing a case in the world's biggest drug market.
The patent relates to the manufacturing process for the active ingredient in Sanofi-Aventis' Allegra and Allegra-D drug products. Both Dr Reddys and Sandoz are known to be marketing these products in the US.
Cipla is recalling the drug for failed impurities and degradation specifications.
US-based Mylan Laboratories Inc has acquired around 51.5 per cent stake in pharmaceutical company Matrix Laboratories for Rs 306 per share.
Sun Pharmaceutical Industries Ltd on Monday said its Michigan-based wholly owned subsidiary,
Indian drug maker Matrix Laboratories Ltd on Monday said US-based generic pharma firm Mylan Laboratories Inc will acquire up to 71.5 per cent stake in the company for around Rs 3,424 crore ($736 million).
Ranbaxy Laboratories on Thursday said it had received Abbreviated New Drug Application approval from the US Food and Drug Administration to manufacture and market Loratidine
Ohm Laboratories Inc, a wholly-owned subsidiary of Ranbaxy has received approval from the US Food and Drug Administration for manufacturing and marketing Valsartan tablets in strengths of 40 mg, 80 mg, 160 mg, and 320 mg on an exclusive basis, Ranbaxy Laboratories said in a statement.
Apple Inc Chief Executive Tim Cook publicly came out as gay in an article he wrote in Bloomberg Businessweek.
Is yet to decide about the partnership or acquisition route
In addition, the CPSC asserted that the company violated the CPSA by failing to immediately advise the CPSC of the alleged violations.
ICICI Bank, HDFC Bank, IndusInd Bank down between 0.2%-1.4% each.
The recall is the latest in a series of problems to hit Ranbaxy, which has had all its India factories stopped from sending drugs and ingredients to the United States.
The higher rate cut by RBI is positive for rate-sensitive sectors in the medium to long term.
Lupin will fund the buy through $100 mn cash reserves and a bridge loan.
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