SENSEX NIFTY
Home » News » CNBC-TV18 Comments
Aug 24, 2010, 03.37 PM IST | Source: CNBC-TV18

Ranbaxy may offer penalty to US FDA for lifting export ban

Drug major Ranbaxy is likely to offer payment of one time penalty to US Food and Drug Administration (FDA), reports CNBC-TV18 quoting sources.

Ranbaxy may offer penalty to US FDA for lifting export ban

Drug major Ranbaxy is likely to offer payment of one time penalty to US Food and Drug Administration (FDA), reports CNBC-TV18's Nayantara Rai 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.

 

READ MORE ON  Ranbaxy, US, FDA, Paonta Sahib, Deewas
Set email alert for

ADS BY GOOGLE

video of the day

Rules of stock-picking: Perils of becoming a fund manager

Explore Moneycontrol

Copyright © e-Eighteen.com Ltd. All rights reserved. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express written permission of moneycontrol.com is prohibited.