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.
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
Work to begin after that on corrective measures to meet US regulator's requirements.
Ranbaxy Laboratories on Thursday launched a generic version of Prasugrel, used in treating heart diseases, from Daiichi Sankyo portfolio in India as part of strategy to launch drugs from the parent company's stable.
Regulator likely to probe possible violation of insider-trading norms.
The company is working on a synergy plan with Ranbaxy under which Daiichi Sankyo's product will be introduced in emerging markets through Ranbaxy, he said, declining to give further details.
The company recorded a net profit of Rs 426.9 crore (Rs 4.26 billion) in the first nine months against Rs 366.5 crore (Rs 3.66 billion) for the same period in 2006. With another quarter to go, the company expects profits close to Rs 739.3 crore (Rs 7.39 billion).
Last month, the high court had ordered an interim status quo on the $4-billion deal, after a suit from some individual investors alleged insider trading in Ranbaxy's shares by Silverstreet Developers, Sun's wholly owned arm, before the deal was announced on April 6.
Leading pharmaceutical company Ranbaxy Laboratories on Tuesday said its global sales had crossed the $1 billion mark in February 2003-February 2004 on a moving annual total (MAT) basis.
The merger has fortified Sun Pharma's position.
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.
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.
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.
The Delhi High Court has quashed a demand of approximately Rs 5 crore (Rs 50 million) raised by the central government against Ranbaxy Laboratories.
JB Chemicals & Pharmaceuticals has entered into an in-licensing agreement with Ranbaxy Laboratories for marketing its herbal brand 'Doktor Mom' in Romania.
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 Indian pharmaceutical company Ranbaxy Laboratories Limited has offered to provide oseltamivir phosphate capsules
Ranbaxy did its maiden public issue in 1973.
Ranbaxy, originally promoted by the Singh family, was acquired by Japan's Daiichi Sankyo late last year.
Drug maker agrees to cooperate with Scottish investigation.
India's biggest drugmaker Ranbaxy on Thursday acquired the 10th largest generic company in Belgium, Ethimed NV, for an undisclosed sum, a day after it shelled out $324 million to buy Terapia in Romania.
India's leading drug-maker Ranbaxy on Wednesday said it has acquired Terapia, the largest independent generic company in Romania, for $324 million and aims to make that country its manufacturing hub in Europe.
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.
Global pharma firm AstraZeneca on Tuesday said it had filed a lawsuit in the United States District Court of New Jersey
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.
Ranbaxy has also agreed to relinquish any 180-day marketing exclusivity that it might have for three pending generic drug applications.
Pharmaceuticals major Ranbaxy Laboratories plans to leverage the cost advantage of Chinese raw materials by making China its major active pharmaceutical ingredient sourcing hub.
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.
WakeupWalmart.com, an anti-Wal-Mart website which belongs to the United Food and Commercial Workers Union, came out with a report two days ago titled, 'Wal-Mart's vaunted $4 prescriptions supplied by disgraced Indian manufacturer.' UFCW claims to have a membership of over 1.3 million workers in the US and Canada. WakeupWalmart.com mainly campaigns for the rights of Wal-Mart employees and consumer interests.
Ranbaxy Laboratories has received tentative approval from the US Food and Drug Administration to manufacture and market Fosinopril Sodium and Hydrochlorothiazide tablets in 10 mg/12.5 mg and 20 mg/12.5 mg strengths
The USFDA has accused Ranbaxy of falsifying data and test results of medicines. A Daiichi Sankyo statement said it takes the issue very seriously. 'Both Daiichi and Ranbaxy have formed a team to solve the issue. Ranbaxy will be responding to the FDA and will continue to cooperate with the agency.' Ranbaxy shares fell more than 18 per cent to Rs 169.85 today on the Bombay Stock Exchange, while Daiichi stock dropped about 10 per cent to yen 1,680 on the Tokyo Stock Exchange.
In May this year, Ranbaxy had pleaded guilty to 'felony charges' for violating manufacturing norms and agreed to pay $500 million penalty to US authorities.
Sun Pharmaceutical Industries reported a 34 per cent year-on-year (Y-o-Y) jump in net profit to Rs 2,654.6 crore in Q4FY24.
Ranbaxy Laboratories Ltd will acquire RPG Aventis SA along with its fully-owned subsidiary, OPIH SARL, in France for an undisclosed sum.
Pharma major Ranbaxy Laboratories on Thursday said it has scored a legal victory with a United States court ruling that its Cefuroxime Exetil product does not infringe upon the patent rights of GlaxoSmithKline.
Veronica Laboratories has tied up with SRL Ranbaxy Ltd, a special reference laboratory, to carry out clinical investigations in HIV positive patients.
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