On October 2, a legislature committee wrote letters to the 14 companies, initiating an investigation and seeking details about recent price increases in several generic products available in the American market.
The global heath body had earlier suspended the hydroxychloroquine arm of the clinical trials of experimental COVID-19 drugs over safety concerns.
Have conviction in your bets and use stop-loss as a defence mechanism to curtail losses.
Markets ended their lowest close in 2015 on fears of FII outflows as the US Fed may hike rates.
In 2008, Daiichi Sankyo had bought the entire 34.82 per cent stake in Ranbaxy from its promoters, Malvinder Mohan Singh and family, for $4.2 billion. Currently, Singh is executive chairman of Fortis Healthcare.
FIIs are looking at the long-term story and initiatives of Indian pharma companies to transform themselves into global entities.
The US Food and Drug Administration (FDA) says it does not follow an India agenda.
Analysts are eyeing bigger launches that will positively impact company's fortunes.
The recall is the latest in a series of problems to hit Ranbaxy, which has had all its India factories stopped from sending drugs and ingredients to the United States.
The joint entity will have a market share of nine per cent in India. Analysts tracking the company said one of the key outcomes of the merger would be to create a single brand entity of Sun and the Ranbaxy brand would eventually dissolve.
Among these, Hindalco and Vedanta from the metal pack have become multi-baggers, gaining 100 per cent in 2016
Some Indian generic drugmakers are, however, uncertain about the pace of approvals in the near future.
The top gainers on the Sensex are Gail(India), HDFC, Infosys.
Slapped with Rs 242-crore fine by US authorities for rule violations at Toansa unit, say sources; 2nd such hefty rap in the recent past from US regulators for bending rules.
Sensex,Nifty to remain under pressure through the week.
Earning woes drag markets lower; TCS, HUL lead fall.
Investors will maintain a cautious stance.
Wockhardt MD Murtaza Khorakiwala said his firm had responded to the FDA's observations but declined to give details.
The past eight months have seen vast improvement in the Indian economy, says Edelweiss Group chairman and chief executive Rashesh Shah, who feels domestic-oriented sectors are likely to do better.
Last month, the US Food and Drugs Administration had placed Wockhardt's facilities in Waluj near Aurangabad on import alert, barring supply of various products from these facilities to the US.
Gains were led by Tata Motors amid robust sales in June along with select financials.
In 2013, Daiichi had launched the arbitration proceedings in Singapore.
50-odd biz leaders are part of Modi's entourage for the 3-nation tour
'Rolling out the vaccine is not a major challenge in India.'
There isn't much Budget could do directly to help sectors.
FPIs sold shares worth a net Rs 1236.95 crore on Friday.
Its Waluj manufacturing facility in Maharashtra failed to meet the good manufacturing norms prescribed by the UK drug regulator.
FDA had also issued warning letters to Ranbaxy's Paonta Sahib and Dewas facilities as it found extensive problems and deviations from manufacturing norms.
Consultants are working with various teams on manufacturing, R&D, etc, to assess per-month productivity of each department.
Indian markets ended on a lower note after the stimulus announced by the European Central Bank (ECB) failed to meet expectation.
US country head, key departmental heads leave; more likely to follow.
The top gainers on the Sensex were Cipla, Bharti Airtel, Maruti Suzuki, Hero Moto & Sesa Sterlite.
Altaf Ahmed Lal, country head of the US Food and Drug Administration (US FDA) in India, has quit and so have a few other key officials at the American drug regulator's India office.
Benchmark indices finished higher on hopes of economic reforms
Inspections only in domestic authorities' presence, visiting US drug regulator told
The 30-share Sensex ended down 224 points at 28,442 and the 50-share Nifty ended down 101 points at 8,606.
Asian shares ended higher after a string of positive US economic data.
The S&P BSE Sensex ended 190 points up at 23,382.
IT shares lost ground tracking a sell-off in tech stocks on Nasdaq on Friday
Financials were the top losers while oil shares also declined amid weak crude oil prices.
© 2026 Rediff.com - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances