Thursday 30th January 2014,
Reporters-365

India’s Ranbaxy hit by new ban from US drug regulator

Reporters365 January 24, 2014 No Comments

 Shares in one of India’s biggest drugmakers, Ranbaxy Laboratories, dropped 17 percent on Friday after the US Food and Drug Administration suspended imports from a fourth manufacturing facility of the firm.
The FDA said it found significant violations from the expected “good manufacturing practice” requirements at Ranbaxy’s Toansa factory in the northern state of Punjab.
The New Delhi-based drug manufacturer’s stock tumbled to 346.20 rupees from its previous close of 417.15 on the Bombay Stock Exchange.
The Toansa plant makes so-called API

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