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Jan 03, 2009, 12.42 PM IST
Sharekhan has maintained its hold rating on Ranbaxy Laboratories. The research firm believes that Ranbaxy's diversified business model should be supported with gains from the FTF opportunities going forward.
Sharekhan has maintained its hold rating on Ranbaxy Laboratories in its January 2, 2009 research report. "Although the reasons for the delay are not known, yet the street has already anticipated a delay in the launch of the product citing the risks associated with the business. While we expect the USFDA’s concerns with regard to Ranbaxy’s manufacturing operations to affect the sales of its US business, the one-off exclusivities will add to the cash flows in the future. We believe that Ranbaxy's diversified business model should be supported with gains from the FTF opportunities going forward.
However, the continued uncertainty over the extent of likely damage to the US business and the timing of the resolution of USFDA issues will continue to cast a shadow on Ranbaxy’s prospects in the near term. Given the continuing uncertainties related to the business, we reiterate our Hold recommendation on the stock.
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