Daiichi Sankyo Co Ltd

Ranbaxy Laboratories rose 5.8 per cent in early trading after the US Food and Drug Administration (FDA) on Thursday said it has approved the company's generic version of Novartis AG's blood pressure drug Diovan.

Sun Pharmaceutical Industries Ltd has agreed to buy generic drugmaker Ranbaxy Laboratories Ltd for $3.2 billion, betting it can fix factory quality glitches that plagued the current owner, Japan's Daiichi Sankyo Co, and got Ranbaxy India-made drugs barred from the United States.

Ranbaxy confirmed the recall of select batches of the drug, a generic version of Pfizer Inc's Lipitor, but said the company had not received any product complaints.

Ranbaxy Laboratories Ltd has been hit by more regulatory scrutiny sparked by a US ban on the bulk of its drugs, in a backlash that could bump up compliance costs and erode profitability among some Indian makers of generic drugs.

All of Ranbaxy's India-based factories are currently banned by the FDA from exporting medicines to the United States, the company's largest market, after the regulator's inspection found violation of its so-called good manufacturing practices.

The settlement is its largest-ever with a generic drugmaker over drug safety, according to the US government. It includes $150 million in payments for a criminal fine and forfeiture and $350 million in payments for civil claims.

Ranbaxy Laboratories Ltd, India's top drugmaker by sales, said its base business would grow a modest 10 per cent in 2013 after reporting a surprise quarterly loss on product recall charges, sending its shares down more than 4 per cent.

Ranbaxy Laboratories Ltd, India's top drugmaker by sales, said it has launched Absorica, a drug used to treat recalcitrant acne, in the United States.

Ranbaxy Laboratories Ltd, India's top drugmaker by sales, beat estimates with a Rs 750 crore quarterly net profit as demand for its generic drugs stoked a sales surge in its key U.S. market while foreign exchange gains boosted profitability.

Ranbaxy Laboratories rose 5.8 per cent in early trading after the US Food and Drug Administration (FDA) on Thursday said it has approved the company's generic version of Novartis AG's blood pressure drug Diovan.

Sun Pharmaceutical Industries Ltd has agreed to buy generic drugmaker Ranbaxy Laboratories Ltd for $3.2 billion, betting it can fix factory quality glitches that plagued the current owner, Japan's Daiichi Sankyo Co, and got Ranbaxy India-made drugs barred from the United States.

Ranbaxy confirmed the recall of select batches of the drug, a generic version of Pfizer Inc's Lipitor, but said the company had not received any product complaints.

Ranbaxy Laboratories Ltd has been hit by more regulatory scrutiny sparked by a US ban on the bulk of its drugs, in a backlash that could bump up compliance costs and erode profitability among some Indian makers of generic drugs.

All of Ranbaxy's India-based factories are currently banned by the FDA from exporting medicines to the United States, the company's largest market, after the regulator's inspection found violation of its so-called good manufacturing practices.

The settlement is its largest-ever with a generic drugmaker over drug safety, according to the US government. It includes $150 million in payments for a criminal fine and forfeiture and $350 million in payments for civil claims.

Ranbaxy Laboratories Ltd, India's top drugmaker by sales, said its base business would grow a modest 10 per cent in 2013 after reporting a surprise quarterly loss on product recall charges, sending its shares down more than 4 per cent.

Ranbaxy Laboratories Ltd, India's top drugmaker by sales, said it has launched Absorica, a drug used to treat recalcitrant acne, in the United States.

Ranbaxy Laboratories Ltd, India's top drugmaker by sales, beat estimates with a Rs 750 crore quarterly net profit as demand for its generic drugs stoked a sales surge in its key U.S. market while foreign exchange gains boosted profitability.