After completion of its mandatory tender offer in Fortis Healthcare and Fortis Malar Hospitals, Malaysian health care giant IHH Healthcare is aiming to add 2,000 beds in a bid to double down on value creation in India. IHH, which is Asia's largest multinational private healthcare provider, currently has over 5,000 beds across a combined network of 35 hospitals and 11 states.
Last year, Ranbaxy Laboratories' managing director and chief executive officer Atul Sobti had stepped down from his positions effective August 19, and was replaced by Arun Sawhney, who was the then president of the company's global pharmaceutical business.
The company had stopped production of generic version of cholesterol lowering drug Lipitor last year as it investigated the issue of potential glass particles in certain lots of the drug.
The letter mentions certain cGMP violation based on site inspections conducted between July and August 2009.
The launch came after final approval from the US health regulator to manufacture the generic version of Lipitor at Ranbaxy's wholly owned Ohm Laboratories facility in New Brunswick, New Jersey, as well as market the product.
Initially, the domestic firm will market Cravit (levofloxacin) used for treating severe bacterial infections in the Malaysian market from January 1, 2012.
Ranbaxy Laboratories edged higher on Tuesday following reports that the company has received the regulators nod to market a new drug in the US.
The drug is licensed to Ranbaxy Laboratories from Cipher Pharmaceuticals Inc of Mississauga, Ontario. It is currently protected by two issued patents listed in the FDA's approved drug products list, which expire in September 2021, the company said in a statement.
In another setback to India's biggest drugmaker Ranbaxy Laboratories Ltd, a court in Finland has prohibited it from marketing its generic version of Pfizer's cholesterol lowering drug Lipitor in the country.
While Ranbaxy tested the lot in question and found it to have met the specified standards, it is recalling the product on the US health regulator Food and Drug Administration's recommendation, the company said.
Ranbaxy Laboratories said on Monday that it has received tentative approval from the US Food and Drug Administration to manufacture and market Modafinil tablets, a generic of Cepahalon's Provigil.
Drug-maker Ranbaxy Laboratories on Wednesday said it has signed an agreement with the US health regulator to lift a ban on the import of drugs from certain manufacturing plants in India and will pay up to $500 million to settle a case lodged by the Department of Justice.
Ranbaxy Laboratories Ltd unveiled an advanced Cephalosporin, Cefprozil, under the brand name Refzil O.
During the quarter, growth in base business was driven by India and Western Europe.
Last week, the court had vacated the status quo order it had issued earlier on the merger process between Sun Pharma and Ranbaxy.
Silverstreet Developers LLP, which had no holding in Ranbaxy at the end of September 2013, had bought shares of the Gurgaon-based firm aggregating 1.41 per cent stake by end of December 2013. As on March 31, 2014, its holding stood at 1.64 per cent.
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.
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.
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).
It had posted net profit of Rs 125.75 crore (Rs 1.25 billion) during the January-March quarter of the previous fiscal, 2012-13.
Sun gets RBI nod for transfer of Ranbaxy overseas investments.
Abbott Laboratories is suing India's Ranbaxy Laboratories as well as Israel's Teva and Sandoz of the Novartis group, in Chicago for allegedly violating its patents protecting Omnicef, a drug used to treat ear, throat and skin infections.
The company had a PAT of $139 million (Rs 693.1 crore) in the corresponding June quarter last year.
Ranbaxy Laboratories on Monday announced the launch of its drug for Benign Prostatic Hyperplasia in India.
Ranbaxy Laboratories Ltd said it has not received any notice from National Pharmaceutical Pricing Authority to deposit Rs 15 million as penalty for pricing flaws.
The company has received a Civil Investigative Demand from the US Department of Justice, Ranbaxy Laboratories said in a filing to the BSE.
The move follows an FDA inspection of a Ranbaxy facility which identified significant violations of sound manufacturing practices.
Ranbaxy Ghuangzhou China is a joint venture formed in 1993 between the Ranbaxy group, Guangzhou Baiyunshan Pharmaceutical Company Ltd, China and Hong Kong New Chemic.
Ranbaxy Laboratories Ltd has informed BSE that neither the company nor its UK based subsidiary has received any notice for any civil action in regard to pricing of Penicillin-based drugs in UK.\n\n
Patient safety and quality our guidance now, says CEO and MD Arun Sawhney.
The generic drugs at issue were manufactured at Ranbaxy's facilities in Paonta Sahib and Dewas in India and included acne drug Sotret, epilepsy and nerve pain drug gabapentin and antibiotic ciprofloxacin.
Ranbaxy has acceded to the request of Health Canada to quarantine drugs produced from its Paonta Sahib facility at Himachal Pradesh, North American country's newspapers reported, highlighting the trouble in store for the Japanese-controlled drug maker. Health Canada is a department of the government of Canada with responsibility for national public health.
Continuing its expansion in Europe, Ranbaxy Laboratories Ltd on Tuesday said it has entered into the Italian pharmaceutical market with the launch of a wholly owned subsidiary, Ranbaxy Italia SPA, in Milan.\n\n
Pharmaceutical major Matrix Laboratories, public sector oil producer Oil and Natural Gas Corporation and Ranbaxy Laboratories have emerged as the fastest, biggest and the most consistent wealth creators for year 2006
Pharma company Ranbaxy Laboratories has entered into a long-term drug discovery and development agreement with the US-based pharma company Merck in the area of anti-infective medicines. Ranbaxy could earn over $100 million on each drug developed through the collaborative research programme. The agreement, announced on Monday, calls for joint research to develop clinically validated anti-bacterial and anti-fungal drug candidates.
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