Ranbaxy jumps over 8% on April-June US sales

Ranbaxy Laboratories shares gain 8.42 percent after better-than-expected April-June sales at its US unit.

The US results were a relief after Ranbaxy shares had tumbled 36 percent as of Wednesday's close since the drug maker pleaded guilty to US felony charges related to drug safety and agreed to pay USD 500 million in settlement. (Read More) 

Macquarie said US sales were driven by the newly launched acne treatment drug Absorica, which could see much higher sales in future. "Given Absorica is the only formulation being promoted to doctors with a much superior profile, we think it can easily be a US USD180-200m product at its peak with high margin," Macquarie, which rates the stock "outperform", said in a note dated Wednesday.