Data also show that several other leading domestic pharma companies have recalled their products from the US
While company would hold on to prices for now, hike likely by end of 2013
The National Pharmaceutical Pricing Authority will soon notify prices of as many as 150 packs of essential medicines in line with the new pharma pricing policy, according to official sources.
In a development that could hasten the entry of the generic version of Gleevec into the US market, Indian drug major Sun Pharma has sued Novartis Pharmaceuticals Corp in the District Court of New Jersey, demanding rights to launch a generic version of the cancer drug before the Novartis patent expires.
Last month, the US Food and Drugs Administration had placed Wockhardt's facilities in Waluj near Aurangabad on import alert, barring supply of various products from these facilities to the US.
The complaint was lodged by Mumbai-based Express Industry Council of India, which represented major express courier and cargo companies such as DTDC, Aramex India, Blue Dart, DHL Express, GATI and First Flight.
FDA had also issued warning letters to Ranbaxy's Paonta Sahib and Dewas facilities as it found extensive problems and deviations from manufacturing norms.
There may be shortage of drugs till pharmaceutical companies supply new batches with revised MRPs.
Apollo Pharmacy, the country's largest branded drug retail network with over 1,500 outlets, has temporarily suspended sale of medicines manufactured by Ranbaxy Laboratories. It has also stopped further procurement from the company for now.
The 2008 deal agreement contains provisions of arbitration to be held in that country.
Consultants are working with various teams on manufacturing, R&D, etc, to assess per-month productivity of each department.
The trouble-stricken company has sought appointment with at least two major hospitals -- Mumbai-based Jaslok and Gurgaon-based Medanta Medicity.
The company was indicted for violations at one of its US facilities in 2009, even after Daiichi Sankyo took over as majority shareholder in 2008.
The US FDA, during its inspection of Ranbaxy's manufacturing facilities in India, between 2006 and 2008, had found violations, incomplete testing records and an inadequate stability programme, besides manufacturing practices that did not follow regulations.
Patient safety and quality our guidance now, says CEO and MD Arun Sawhney.
Singh says Japanese pharma giant's allegations false.
In what could be the beginning of fresh troubles for Ranbaxy Laboratories, which has just managed to settle long-pending issues with the US Department of Justice after agreeing to pay a penalty of $500 million, the health ministry in India, too, has decided to initiate a probe.
Dinesh Thakur says he waved the red flag only after Ranbaxy didn't respond to his concerns.
With Ju-C, the beverage maker launches a price war in the fruit juice space.
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