Ranbaxy may offer penalty to US FDA for lifting export ban

40039 Investors following Ranbaxy Labs. Share this News with them.

0

Like this story, share it with millions of investors on M3

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.

Post your opinion here

 

0

Tweet

Share on Tumblr

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.