Malvinder steps down as CMD four years ahead of schedule.
Bhai Mohan Singh, the grand old man of India's pharmaceutical industry and founder of Ranbaxy laboratories, passed away on Monday evening at the age of 89.
Aurobindo pharma, cipla, orchid chemicals are the prominent takeover targets.
Ranbaxy Laboratories has received tentative approval from the US Food and Drug Administration to manufacture and market Lamivudine Tablets in 150 mg strength, the company announced on Saturday.
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.
Pharmaceutical giant Ranbaxy on Monday said that it has received tentative approval from the US Food and Drug Administration to manufacture and market carvedilol tablets for treatment of cardiac disorders including hypertension.\n\n\n\n
Agreeing to examine the allegations, a bench headed by Chief Justice P Sathasivam, however, refused to pass any interim order for restraining the company from manufacturing drugs.
A random check had found that tests failed to prove the medicines were same as the patented drugs.\n
Ranbaxy Laboratories has received tentative approval form the Food & Drug Administration USA for manufacturing and marketing Fluconazole tablets
Ranbaxy Laboratories on Tuesday said it had received approval from US Food and Drug Administration to market a semi synthetic cephalosporin Panixine DisperDose, a generic version of Ceph International Corp, Keflex.
Ranbaxy Laboratories Ltd, India's top drugmaker by sales, said it expected to get US approvals for a paediatric dosage of its generic version of Augmentin, GlaxoSmithKline's blockbuster antibiotic, within a month.\n\n\n\n
K Raghavendra Rao, one of the founding promoters and managing director of Orchid Chemicals and Pharmaceuticals, said he may initiate talks to buy back its 14.7 per cent stake that is now with Rexcel, a unit of pharma major Ranbaxy.
Japanese drug maker Daichii Sankyo, which has signed a share purchase agreement with Ranbaxy, on Thursday said its open offer for an additional 20 per cent stake in the domestic pharma major would undergo a change of schedule, pursuant to a delay in Sebi's approval.
Bhai Mohan Singh came to Delhi from Rawalpindi after the partition, having made big money in road contracts in the northeast region during the Second World War. He was soon in business, lending money to companies based in Delhi. It would be difficult to tell if he would have shared the elation of his grandson, Malvinder Mohan Singh at the family's exit from the company today.
In a major boost to Ranbaxy Laboratories' exports to developed countries, the United States has approved marketing of flecainide acetate tablets in the country.
D S Brar on Monday announced his decision to step down as chief executive officer and managing director of Ranbaxy when his term expires on July 04
Agents from the US Food and Drug Administration apparently locked down the US headquarters of the Indian pharmaceutical major as well.
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As per the media report, the US Food and Drug Administration is learnt to have issued a Form 483 to the company's manufacturing facility at Mohali a few months ago after finding deviations from norms during an inspection of the plant.
Simvastatin goes off patent in late June; Ranbaxy gets 180-day exclusivity period; Dr Reddy's-Merck will be third player.
The US Congressional committee, which is inquiring into the country's Food and Drug Administration's handling of drug-marketing approvals of India's leading drug-maker Ranbaxy, has extended its probe into similar permissions given to Iceland's Actavis.
The high court said the investigation has shown the crime proceeds were used for air travel and purchase of high-end branded gifts for Bollywood celebrities.
The transaction, to be followed up by an open offer, puts the entire deal value between $3.4 billion and $4.6 billion.
In a development that might result in India's leading drug maker Ranbaxy selling a generic version of Pfizer's blockbuster drug Lipitor sooner than expected in the US market, the United States patent office has made an initial rejection of Pfizer's claim on the basic patent on Lipitor.
Domestic pharma giant Ranbaxy Laboratories Limited has topped the list of patent filers in the area of drug applications from the Third World countries last year with 64 new formulations.\n\n\n\n
On the NSE, the stock gained 28.60 per cent to close at Rs 362.
India's top drug maker Ranbaxy Laboratories said on Tuesday its first-quarter net profit nearly tripled on booming exports of generic drugs to the United States.
Pharmaceutical major Ranbaxy Laboratories on Wednesday said it was confident of clocking around 23 per cent growth in global sales in 2003.
Investors in Ranbaxy Laboratories got richer by over Rs 1,900 crore (Rs 19 billion) in a single day as the scrip surged by a little over 20 per cent on the Bombay Stock Exchange on Monday, a day after the pharma major announced a change of guard at its top management level.
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