Mylan had sued the United States Food and Drugs Administration for providing the exclusive right to Ranbaxy, alleging the permission was given on the basis of 'falsified data'.
All medicines that have USFDA approvals continue to be produced in the Poanta Sahib facility. The USFDA has not given any approval for new drugs as they have some concerns. We are addressing them, Malvinder Singh said.
Ranbaxy Laboratories Ltd on Wednesday said that it has received $4 million from German pharma company Schwarz Pharma AG for further progress on the development of RBx 2258 molecule.
The Supreme Court on Monday posed some tough questions to a lawyer, asking him to substantiate his "unfounded allegations" in a PIL that Indian pharma major Ranbaxy Laboratories Ltd was allegedly manufacturing and selling adulterated medicines.
PPD Inc has acquired exclusive worldwide license to develop, manufacture and market Ranbaxy's cholesterol lowering novel statin.
A day after Ranbaxy Laboratories accused corporate rivals for the recent stock slump, the pharma major on Thursday said its deal to sell promoters' stake to the Japanese firm Daiichi Sankyo is 'binding and final.'
The group's testing lab chain SRL Ranbaxy has been renamed as Religare Super Laboratories. RanAir, its charter aviation company will be known as Religare Voyages. About 15 group companies, including joint ventures like Religare Macquarie Private Wealth, Religare Aegon and Vistaar Religare have come under the umbrella brand Religare.
Ranbaxy Laboratories on Tuesday said it will acquire Bangalore-based Biovel Lifesciences for an undisclosed amount.
The generic products company had challenged the patent and secured a six-month exclusive right to sell a low-cost version of the $10.7 billion medicine in the US market after the expiry.
In 2014, Sun Pharma agreed to buy Ranbaxy -- which was then controlled by Daiichi.
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.
Apollo Pharmacy, the country's largest branded drug retail network with over 1,500 outlets, has temporarily suspended sale of medicines manufactured by Ranbaxy Laboratories. It has also stopped further procurement from the company for now.
The drug had generated sales of $600 million in the first six months of its launch in the US, as Ranbaxy had exclusive marketing rights for it.
Sun gets RBI nod for transfer of Ranbaxy overseas investments.
Under the terms of the deal Ranbaxy will drop litigation it initiated in November 2005 and will sell Nexium from May 2014 - the expiry date of the first of a series of patents. Under US law Ranbaxy would be the exclusive generic distributor for the first six months.
Ranbaxy, one of the first Indian companies to set up a venture in China in 1993, is bullish in its operations.
In 2013, Daiichi had launched the arbitration proceedings in Singapore.
The process is being undertaken in consultation and agreement with the competent authorities.
According to a report, the executives are T G Chandrashekhar, vice-president, global quality and analytical research, and Abha Pant, executive director for regulatory affairs.
It has hired consultants to advise it on a strategic project and compliance issues in the US. It also needs to improve employee morale.
Sun Pharmaceutical Industries Ltd Chairman Dilip Shanghvi said he expects Ranbaxy Laboratories Ltd to become profitable in the short term.
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.
Sun Pharma would have to do a lot of work to get USFDA to revoke the ban on Ranbaxy facilities but it has not put any time-frame for this, company ChairmanIsrael Makov said.
In what could be the beginning of fresh troubles for Ranbaxy Laboratories, which has just managed to settle long-pending issues with the US Department of Justice after agreeing to pay a penalty of $500 million, the health ministry in India, too, has decided to initiate a probe.
The bitter dispute in the Ranbaxy promoter family took an ugly turn on Wednesday with one section approaching the police against the other, alleging 'illegal construction' at the palatial family house in the heart of the city.
Under terms of the agreed deal, Ranbaxy shareholders will get 0.8 of a Sun Pharmaceutical share for each Ranbaxy share they own.
The company did not comply to the 'good manufacturing practice' norms.
The products would be marketed and promoted jointly by Nippon Chemiphar and Nihon Pharmaceutical and sold in Japan under the Ranbaxy/Nihon Pharmaceutical Industry Ltd label.
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.
Consultants are working with various teams on manufacturing, R&D, etc, to assess per-month productivity of each department.
In a boost to India's biggest drugmaker Ranbaxy Laboratories Ltd, an Austrian panel has ruled in the company's favour in a patent litigation against Pfizer involving cholesterol lowering drug 'Lipitor' in that country.
Pharma major, Ranbaxy Laboratories Ltd has entered into a joint venture agreement with South African Community Investment Holdings to market and sell its range of Anti-Retroviral products in African markets.
Ranbaxy earned $114 million from its US operations in 2006. It launched 10 new products during the year. The company said that the revenues from the sale of the newly acquired brands would be reflected from the next quarter.
Ranbaxy, which ranks second in domestic sales among drug companies (it is the largest in total sales), has announced plans to be the market leader in the next few years.
US District Judge Beryl Howell in Minneapolis denied Ranbaxy's request, the court filing showed.
The shares of Ranbaxy Laboratories fell 3.3 per cent on the bourses on Wednesday amid speculation the promoters of the country's top drugmaker were planning to dilute their stake, but the company denied any such move.
Having cut eight deals last year, the $1.3 billion pharma major Ranbaxy probably has the sharpest negotiating skills in the business.
Ranbaxy has six-month exclusive marketing right to anti-herpes Valtrex.
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