Ranbaxy falls on media report of US FDA query on plant
Business Standard said the FDA had issued form 483 to Ranbaxy regarding its Mohali plant. That form is issued when U.S. inspectors see conditions they believe may violate US rules.
June 24, 2013 / 14:19 IST
Shares of Ranbaxy Laboratories Ltd fell as much as 2.3 percent on Monday after newspaper Business Standard reported the US Food and Drug Administration had raised concerns about a plant in Mohali, citing unidentified sources.
Also Read: Global tech cos bullish on India business potentialBusiness Standard said the FDA had issued form 483 to Ranbaxy regarding its Mohali plant. That form is issued when U.S. inspectors see conditions they believe may violate US rules.A Ranbaxy spokesman declined to comment when asked if the drug maker had received the 483 form."We continue to make regulatory submissions from Mohali and will commercialise products from Mohali when we get approvals," he said.The US FDA was not immediately reachable for comment.Ranbaxy shares were down 2.8 percent at 9.40 a.m., compared with a 0.7 percent fall in the broader Nifty. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
