The US Food and Drug Administration (USFDA) has issued a warning letter to RPG Life Sciences for violation of current good manufacturing practice (CGMP) norms at its two plants at Ankleshwar and Mumbai.
RPG Life Sciences said on Wednesday it will undergo a restructuring process, wherein its pharmaceutical business and investments will be transfered to two of its group companies.
RPG Life already has marketing tie-ups with Israel's drug major Teva for the EU market and with the US-based Apotex for the Canadian market.
RPG Life Sciences Ltd, the pharmaceutical arm of RPG Enterprises, is recruiting sales officers and district managers.
The move comes in the wake of many facilities of Ranbaxy in India being barred by the US Food and Drugs Administration for supplying medicines to the US.
Data also show that several other leading domestic pharma companies have recalled their products from the US
Overnight, the Wall Street closed on a flatter note.
Import alert on Ranbaxy's Mohali unit; Strides' injectible arm gets warning letter
The winter session of Parliament will commence on November 26.
The 30-share Sensex ended up 1 point at 27,459 and the 50-share Nifty ended down 1 point at 8,341.
The Indian Pharmaceutical Alliance has approached regulator for a dialogue to understand the concern raised by it
Margaret A Hamburg, the first commissioner of the US Food and Drug Administration (US FDA) to visit India officially, will meet heads of major domestic pharma companies such as Ranbaxy, Wockhardt, Cadila Healthcare and Lupin in New Delhi.
The country's drug companies have attracted the highest number of enforcements from the American drug regulator in 2013, a year that has seen the US Food and Drug Administration turning stricter to ensure compliance levels and quality of medicines.
He did not believe in any fiscal puritanism. In 2012, when it was almost certain that the government will breach the 2012-13 fiscal deficit target, he wrote that in abnormal times, abnormal measures are required to get back to normalcy.
The Sensex closed higher by 170 points at 26,128 and the Nifty rose 59 points to end at 7,943.
Though the intent has been hailed as good for the economy, teething problems remain with a five-rate structure for various goods and services
Details on prices sought as 10 generic drugs become up to 83 times costlier in 6 months
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