Aug 24, 2010, 03.37 PM | Source: CNBC-TV18
Drug major Ranbaxy is likely to offer payment of one time penalty to US Food and Drug Administration (FDA), reports CNBC-TV18 quoting sources.
Facing the ban, Ranbaxy has been unable to export generic drug from Paonta Sahib and Deewas since September 2008.
It is learnt that Ranbaxy management is keen to settle with US FDA and offer to pay the penalty as one of the options. It is not known what the one time penalty will amount to.
However even if US FDA gives a nod to the penalty offer, its officials inspection of Ranbaxy’s plants is not ruled out. So the first inspection will be in Dewas because the issue is less complicated there.
Ranbaxy management has not denied to the story but only refused a comment calling it a market speculation.
Also watch the accompanying video.
US markets recovered from day's low to end flat on
There is a mouth-watering large IT deal that most
Hotel Leelaventure is sinking into debts and the c
The government has initiated clearance of coal sup
A day after Telenor said it is looking for a new J
ADB had offered its 5.2% stake in Petronet LNG in