With a strategic approach on formulations, the company has been focusing on the manufacturing of nutraceuticals with a growth rate of 35 percent.
"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.
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.
Diiachi says that certain former shareholders "misrepresented critical information".
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.
Ranbaxy’s shares jumped over 10% in morning trade on Thursday after it said it has launched its generic version of Lipitor in the US market having received final approval from US Food and Drugs Administration (FDA).
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.