Sachin Bansal, who had co-founded Flipkart with Binny Bansal in 2007, would exit the company
A source said the competition watchdog would by next month suggest 'structural remedies' that included selling key drug segments as conditions for clearing the country's largest pharmaceutical industry merger.
The joint entity will have a market share of nine per cent in India. Analysts tracking the company said one of the key outcomes of the merger would be to create a single brand entity of Sun and the Ranbaxy brand would eventually dissolve.
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.
Slapped with Rs 242-crore fine by US authorities for rule violations at Toansa unit, say sources; 2nd such hefty rap in the recent past from US regulators for bending rules.
Nifty50 surged 87 points to end at 8,157, highest closing levels since Oct 29, 2015.
The challenge of merging Ranbaxy into the company has not been factored in.
Sun-Ranbaxy are keen to complete the merger process.
FDI in brownfield investment has resulted in acquisition of domestic drug-manufacturing firms by multinational companies.
FDA allows Teva to launch Nexium generic; Cipla, which supplies formulation, to gain
In a surprise announcement in April, Sun and Ranbaxy -- at that time owned by Japan's Daiichi -- declared an all-stock deal to create India's largest and world's fifth-largest drugmaker in an over $4 billion deal.
The second half of June could be driven more or less by technical factors triggered by news flow from Greece, the US Federal Reserve and the monsoon. The technical picture seems bearish as of now, says Devangshu Datta.
The emperor has no political power, yet he enjoys a unique place in Japanese society, notes Dr Rajaram Panda.
.jpg)
According to sources, the company has identified smaller markets such as Peru, which do not contribute significantly to profits, where it might shut shop in the near term.
India is failing to take advantage of its important ally, Japan as much as it should, notes Mihir S Sharma.
Singh brothers might be stopped by 'fit & proper' hurdle due to US drug norm violations; firm says confident of qualifying.
FIIs have offloaded stocks worth Rs 13,110 crore
The Sensex ended at at 27,676, lower by 210 points and the Nifty broke the psychological level of 8,400 to end at 83877 down 70 points.
The agreement was reached in intensive negotiations between contact groups that Obama and Modi had set up in September.
Ranbaxy's US factory, Ohm Laboratories, is learnt to have got a clean chit from the American regulator. This US facility was under surveillance of the Food and Drug Administration (FDA) since the end of 2012.
'15, 17 years back we were not even in existence in the US. Today nearly 1/3 of prescriptions written comes from India.' 'India is showing that in a very competitive environment -- like the US and Europe -- our industry is doing very well.'
FDA inspectors visited the Mohali plant in the process of giving approval to Ranbaxy's application for Valsartan.
It hopes to turn around Ranbaxy within four years of closing the deal by improving efficiency and resolving all regulatory issues
Import alert on Ranbaxy's Mohali unit; Strides' injectible arm gets warning letter
And when an inspector asked about the contents of unlabelled vials in the laboratory glassware washing area, a plant worker dumped them down a sink and said the contents could not be determined, according to a July 18 letter from the US Food and Drug Administration to Wockhardt, which makes sterile injectable drugs and various forms of insulin.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances