Pharma major denies charges, to file response soon.
Pharmaceutical major Ranbaxy Laboratories, which has been linked to a hostile takeover bid of Chennai-based Orchid Chemicals, on Wednesday said the company does not believe in such practices.Solrex Pharma, reportedly a Ranbaxy promoter group firm, had acquired over 8 per cent stake in Orchid Chemicals through open market purchases. The Ranbaxy official also declined to confirm or deny if Solrex Pharma is a part of the Ranbaxy Group.
Earlier in April, Sun Pharmaceuticals Industries announced acquisition of Ranbaxy in an all-share deal.
Sun Pharmaceutical Industries Ltd Chairman Dilip Shanghvi said he expects Ranbaxy Laboratories Ltd to become profitable in the short term.
Indian pharmaceutical majors Dr Reddy's Laboratories and Ranbaxy Labs have made it to the list of 105 best pharmaceutical companies in Asia.
"It will be the team I choose to have with the approval of the board. It is really our call on how to run the business. Certainly, the growth will be higher and so will be the size and scale of the investments. You will see a lot more aggression in terms of leveraging opportunities for the next few years," says Ranbaxy CEO Malvinder Mohan Singh.
US country head, key departmental heads leave; more likely to follow.
Earlier, Jaslok Hospital had issued an advisory to its doctors to avoid prescribing drugs manufactured by Ranbaxy.
Ranbaxy was asked to sell all products containing Leuprorelin which are marketed and supplied under brand name Eligard.
The deal had separately come under scanner of the market regulator Sebi for alleged insider trading violations and the present 'no-objection' from the exchanges.
Regulator likely to probe possible violation of insider-trading norms.
The court also restrained RHC Holdings from operating its bank accounts except for payment of salaries and statutory dues till March 23, the next date of hearing.
The company has launched a new chemical entity Lulifin (Luliconazole) in the Indian dermatology market, the pharma major said in a filing to the Bombay Stock Exchange.
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
Ranbaxy Laboratories on Friday said it had received approval from US Food and Drug Administration to manufacture and market nitrofurantoin monohydrate macrocrystals capsules (100 mg) and planned to bring the new drug to the market in April.
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.
It hopes to turn around Ranbaxy within four years of closing the deal by improving efficiency and resolving all regulatory issues
Leading Indian pharmaceutical company Ranbaxy Laboratories Limited has offered to provide oseltamivir phosphate capsules
Ranbaxy Laboratories will soon join the select club of Indian pharmaceutical majors and have a share in the $76.6 million generics market for anti-infective Cefprozil tablets in the US.
Profit motives shouldn't override national interests, said BJP leader at the Business Standard annual awards function. Though he did not name Ranbaxy, the signal from the Bharatiya Janata Party's prime ministerial candidate was clear.
Leading pharmaceutical company Ranbaxy Laboratories on Friday announced the launch of its first branded prescription product, Visclair, in the United Kingdom.
Ranbaxy on Tuesday announced it had got final approval from the US Food and Drug Administration to market its Metformin HC1 tablets for diabetes.
Pharmaceutical major Ranbaxy Laboratories on Friday said it will set up a wholly-owned subsidiary in Spain as part of its strategy to expand presence in Europe.
All of Ranbaxy's India-based factories are currently banned by the FDA from exporting medicines to the United States, the company's largest market, after the regulator's inspection found violation of its so-called good manufacturing practices.
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.
The comments need to be submitted to the Competition Commission of India within 15 days, along with supporting documents on how the merger can adversely impact the concerned person or entity, the regulator said, while adding that it would not consider 'unsubstantiated objections' to the deal.
FDA had cancelled Ranbaxy's approvals to launch generic Nexium, Valcyte
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.
Indian drug major Ranbaxy Laboratories has got the US Food and Drug Administration nod for the manufacture and sale of Ofloxacin tablets.
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The company has been reported to be retrenching staff.
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.
Sun Pharma expects synergy benefits by next fiscal.
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 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.
It has exited most non-profitable geographies and is no longer chasing acquisitions. Will the new strategy pay off?
Nearly 150 senior management staff will be asked to leave.
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