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| World Home » Life Style » | Sat. Nov 22, 2008 |
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Ranbaxy disappointed with U.S. move to ban drug imports MIL/Hindu/PTI, Sep 17, 2008. New Delhi: September 17, 2008 - Decrying the U.S. health regulator's move to ban import of drugs from its two plants, pharma major Ranbaxy on Wednesday said it had responded to every issue raised by them in the last two years. "Ranbaxy is very disappointed in the action Food and Drug Administration (FDA) has taken today. The company has responded to each concern FDA has raised during the past two years and had thought that progress was being made," Ranbaxy said in response to U.S. FDA's warning letters and import alert. The U.S. FDA has issued two warning letters to Ranbaxy Laboratories and an import alert for generic drugs produced by Ranbaxy's manufacturing facilities in Dewas (Madhya Pradesh) and Paonta Sahib, including the Batamandi unit, in Himachal Pradesh. Shares of Ranbaxy on Wednesday plunged by as much as 10 per cent to witness an intra-day low of Rs 363.10 on the Bombay Stock Exchange. The scrip was later trading at Rs 375, down 7.61 per cent and over 4.79 lakh shares exchanged hands on the BSE. According to the FDA announcement, the warning letters and import alert would not be applied to Ranbaxy's other facilities including its three units in the U.S., Ohms Laboratories facilities in New Brunswick, NJ, North Brunswick, NJ, and Gloversville, NY, the company said.
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