Ranbaxy Laboratories on Monday said it has received final approval from the United States Food and Drugs Administration to manufacture and market Amoxicillin and Clavulnate Potassium tablets, a generic version of GlaxoSmithkline's Augmentin.
While 22 per cent of the promoters' stake in Ranbaxy was sold through an off-market transaction, the remaining came from a preferential share allotment. Daiichi Sankyo had earlier picked up more than 20 per cent of Ranbaxy's shares through an open offer. Ranbaxy Chairman and Managing Director Malvinder Mohan Singh said the remaining 12-13 per cent promoter shareholding will change hands in the coming weeks, thereby taking Daiichi's share in Ranbaxy to over 60 per cent.
The Singh family sold their 22 per cent holding to the Japanese firm, besides issuing 4.62 crore shares on preferential basis. Daichii Sankyo has already acquired 20 per cent stake in the Gurgaon-based firm, and with today's acquisitions, Ranbaxy has become a subsidiary of the Japanese firm, which would now control 52.5 per cent in the domestic pharma major.
Sun Pharmaceutical said Ranbaxy shareholders will get 0.8 Sun Pharma shares for each Ranbaxy share.
Ranbaxy Laboratories Ltd is likely to post over 20 per cent growth in turnover for the year ending December 31, 2004, the company's chief executive officer and managing director Brian Tempest said on Tuesday.
Dinesh Thakur says he waved the red flag only after Ranbaxy didn't respond to his concerns.
Indian drug major Ranbaxy Laboratories has got the US Food and Drug Administration nod for the manufacture and sale of Ofloxacin tablets.
Ranbaxy Laboratories Ltd on Tuesday said it has decided to discontinue all its 'Valdecoxib' formulations with immediate effect from Indian markets.
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
Close on the heels of acquiring French company RPG (Aventis), Ranbaxy Laboratories on Wednesday said it was looking at more acquisitions in the United States and Europe and was examining few proposals.
Under fire in the United States for giving distorted information on the generic drugs it sold, Ranbaxy Laboratories on Tuesday said that it will file all relevant information within a month after which the legal case initiated against it by the US government will be withdrawn.
It has exited most non-profitable geographies and is no longer chasing acquisitions. Will the new strategy pay off?
Daiichi Sankyo had entered into a licensing agreement with Sanofi-Aventis in 1993 for marketing levofloxacin (Tavanic) in Europe, Africa, South America and in some countries in Asia. Sanofi-Aventis is currently selling the drug in more than 90 countries under the brand 'Tavanic'.
India's largest drugmaker, Ranbaxy, will have an exclusive six-month marketing opportunity to sell a generic version of Japanese drugmaker Eisai's drug for Alzheimer's in the US.
Ranbaxy Laboratories, in a release issued to the BSE on Thursday, said the US Food and Drug Administration has granted the company permission to market DisperMox (amoxicillin tablets for oral suspension - 200mg and 400mg).\n\n
Market regulator Sebi had imposed a penalty of Rs 50 lakh (Rs 5 million) on V K Kaul -- who was a non-executive independent director of Ranbaxy Laboratories between January 2007 and December 2008 -- and a fine of Rs 10 lakh (Rs 1 million) on his wife Bala Kaul.
Ranbaxy has completed the second phase of the clinical trial of a revolutionary anti-malarial drug that could enable it to be the nation's first pharmaceutical company to launch a New Chemical Entity globally.
Pharma major Ranbaxy Laboratories has set aside Rs 257.4 crore (Rs 2.57 billion) towards the financial impact of a US ban on import of products made at its plant at Toansa.
Ranbaxy Pharmaceuticals Inc said on Tuesday it has received US Food and Drug Administration's approval for manufacturing and marketing cardiovascular drug -- Atenolol tablets in the US.
After being raided by Federal officials, Ranbaxy Laboratories Ltd, India's largest pharmaceutical company, has been taken to court in the US by a consumer health group that supports the sale of low-priced generic medicines.
Ranbaxy Laboratories has acquired a generic product portfolio accounting for eighteen products belonging to the Spanish pharmaceutical Company Efarmes, S. A. Unipersonal for sale in the Spanish market.
Ranbaxy settled the day at Rs 409.25, down 14.01 per cent, or Rs 66.65, from its last close. It touched an an intra-day low of Rs 402.50, lower by over 15 per cent from its previous close after opening at Rs 478, its intra-day high.
Ranbaxy Laboratories, the country's biggest drugmaker, is all set to focus its energies in developing and marketing niche products where price erosion is minimal
Ranbaxy Laboratories Ltd, the country's biggest drug maker by revenues, has announced aggressive growth plans for the domestic market. It has increased its sales teams in specific areas like cardiovascular, diabetics and dermatology and plans to introduce over 100 new products by the year-end.
The company's Canadian subsidiary Ranbaxy Pharmaceuticals -- Canada Inc has received final approval from TPD to manufacture and market Ran-Simvastatin tablets, the Gurgaon-headquartered pharma major said in a statement. The approval for Ran-Simvastatin tablets, which are used as a lipid metabolism regulator, is in the strength of 5, 10, 20, 40 and 80 mg.
Jupiter Bioscience, a manufacturer of specialised organic compounds, on Tuesday said it has allotted 14.91 per cent stake to Ranbaxy Laboratories through issue of share warrants on preferential basis for Rs 46.70 crore (Rs 467 billion).
The case was earlier heard by a different vacation bench which had on June 10 asked Sharma to substantiate his 'unfounded allegations' that the Indian pharma major was allegedly manufacturing and selling adulterated medicines.
Insurance companies, which are major shareholders in the country's biggest drug maker Ranbaxy Laboratories, said they will sell part of their stake in the company to the highest bidder.
One reform that Malvinder couldn't do was that of the company's board of directors. For long, doctors and scientists have been inadequately represented on the Ranbaxy board. The new owner will have to address this problem.
Ranbaxy Laboratories has received US Food and Drug Authority approval for Benazepril Hydrochloride, a high blood pressure drug.
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