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The consolidated profit in addition to revenue may also be adversely impacted due to certain expenses/ charges arising out of integration and remedial actions.
"Sun‘s strong positioning in key business verticals and synergy benefits from the Ranbaxy turnaround makes it a high conviction buy with an upside of 24 percent," CLSA reasoned.
The DC Federal Court in the US has upheld the decision of the USFDA for rescinding tentative approvals given to it for generic digestive disorder drug Nexium and antiviral Valcyte.
European authorities inspected all units at Ranbaxy's Dewas plant, in Madhya Pradesh, in June and did not approve the manufacturing practices at the unit that makes injectable cephalosporin antibiotics, Ranbaxy said in a stock market filing on Thursday.
Ranbaxy has recalled tablets of atorvastatin calcium, the generic name for Lipitor's active ingredient, after a pharmacist found a 20-milligram tablet in a sealed bottle marked for 10-milligram tablets, the US Food and Drug Administration (FDA) said.
RBI has printed a set of 2014 currency notes with governor Subbarao's signature. These are largely 500 rupee denominated notes which were printed at the Dewas press in Madhya Pradesh.
In January, the US Food and Drug Administration banned the Toansa plant, a key supplier of ingredients to the generic drugmaker's US factory, from sending its products to the United States due to manufacturing violations.
Analysts are worried about the guidance (Rs 13,000-13,500 crore - with no first-to-file included) after the US Food and Drug Administration (USFDA) banned manufacturing and distributing active pharmaceutical ingredients from its Toansa facility. Toansa was the fourth plant that was banned by USFDA after Mohali, Dewas and Poanta.
In an interview with CNBC-TV18, Isaac George, Director - Finance, GVK Power and Infrastructure, spoke about its consortium, Mumbai International Airport Ltd, provided a status update about the construction work at the airport and discussed the company‘s other projects.
Nomura has a buy whereas Antique has a sell on Ranbaxy.
Sources indicate that the deficiencies noted during DCGI inspections are not serious enough to attract suspension charges
The PIL was filed against Ranbaxy for allegedly manufacturing and selling of the adulterated drug. The petitioner cited the pharma giant's case in the US where Ranbaxy USA admitted to selling substandard and adulterated drugs.
Ranbaxy said its US arm is pleading guilty to criminal charges related to violation of the Food, Drugs and Cosmetics Act and the company. owned by Japan's Daiichi Sankyo, will now pay USD 500 million to settle all the civil, criminal lawsuits.
Pharma analyst at Macquarie Research, Abhishek Singhal, spoke to CNBC-TV18 about the key takeaways from the management meet post Ranbaxy’s settlement with the US FDA.
Ranbaxy's consent decree with the US Food and Drugs Administration [FDA] to resolve its long pending issue related to the drug regulator blacklisting its plants in Dewas and Paonta Saheb is a positive step analysts say.
Ranbaxy shares ended 3% up on Wednesday in a roller coaster ride after the drug maker signed a consent decree with US FDA, and set aside USD 500 million to cover any liabilities arising from a US Justice Department probe.
Shares of Ranbaxy Laboratories fell over 3% on Wednesday after the drug maker said it has signed a consent decree with the US Food and Drug Administration [FDA] and also has separately set aside USD 500 million to cover any potential penalty from an investigation by the US Justice Department.
In what could be the biggest boost for Ranbaxy in more than three years, sources suggest that the US FDA has given an approval for Ranbaxy's finished dosage plant in Mohali, reports Archana Shukla of CNBC-TV18.
Shares of pharma major Ranbaxy Laboratories slipped over 3% on Wednesday amidst uncertainties over when it will be able to launch a generic version of the blockbuster drug Lipitor.
