Ranbaxy Laboratories have recalled 64000 bottles of Lipitor Generic in the US.
Ranbaxy shares tumbled 4 percent on Wednesday morning, extending Tuesday's losses on a surprise fourth quarter loss on the back of falling sales and costs related to the recall of its cholesterol lowering drug in the US market.
In an interview to CNBC-TV18, SP Tulsian of Sptulsian.com informed that they have scheduled this all party meet on Monday to discuss on FDI. He feels that this is seen more as a political agenda and nobody is interested in having a healthy discussion.
While the market has been weak, the pharma sector has remained steadfastly resilient. Chirag Talati, Pharma Analyst, Espirito Santo Securities talks about what is making news in the pharma space.
Dr Reddys Laboratories has done a settlement with Pfizer on Lipitor Generic, reports CNBC-TV18. It touched an intraday high of Rs 1,650 and an intraday low of Rs 1,522. At 09:20 hrs the share was quoting at Rs 1,528.80, up Rs 34.95, or 2.34%.
In a petition filed in the court of California, the USFDA has requested that Mylan’s complaint be dismissed, reports CNBC-TV18's Priyanka Ghosh, who has obtained the USFDA's petition copy.