Patient safety and quality our guidance now, says CEO and MD Arun Sawhney.
The US FDA, during its inspection of Ranbaxy's manufacturing facilities in India, between 2006 and 2008, had found violations, incomplete testing records and an inadequate stability programme, besides manufacturing practices that did not follow regulations.
USFDA consent decree reveals that firm will have to forego huge short-term opportunities for its generics.
The group is looking into a new role for Ranbaxy CEO and MD Arun Sawhney.
During the quarter, growth in base business was driven by India and Western Europe.
Shares of Ranbaxy Laboratories on Friday slumped as much as 20 per cent in the morning trade after the USFDA prohibited the company from producing and distributing drugs for the American market from its Toansa plant in Punjab.
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.
Pharma major Ranbaxy Laboratories has set aside Rs 257.4 crore (Rs 2.57 billion) towards the financial impact of a US ban on import of products made at its plant at Toansa.
Company is among the few companies in the sector getting pulled up by FDA for violations at its factories in India.
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The company has been reported to be retrenching staff.
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.
Ranbaxy Laboratories on Wednesday reported widening of its consolidated net loss to Rs 1,029.72 crore (Rs 10.29 billion) for the third quarter ended December 31, 2014
Drug major Ranbaxy Laboratories on Thursday said it plans to launch more generic products in the US market with possible marketing exclusivity, while keeping options open for overseas acquisitions to grow its business in various global markets.
Consultants are working with various teams on manufacturing, R&D, etc, to assess per-month productivity of each department.
Ranbaxy Laboratories on Thursday said it will co-operate fully with any regulator from anywhere in the world wanting to investigate its manufacturing practices.
And when an inspector asked about the contents of unlabelled vials in the laboratory glassware washing area, a plant worker dumped them down a sink and said the contents could not be determined, according to a July 18 letter from the US Food and Drug Administration to Wockhardt, which makes sterile injectable drugs and various forms of insulin.
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