Ranbaxy Shares Fall after US Drug Recall - The New Indian Express

Ranbaxy Shares Fall after US Drug Recall

Published: 10th March 2014 10:21 AM

Last Updated: 10th March 2014 10:21 AM

Shares in Ranbaxy Laboratories Ltd fell as much as 3.8 percent on Monday after the drug maker recalled more than 64,000 bottles of the generic version of a cholesterol-lowering drug in the United States after doseage mix-up was detected.

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.

Shares in Ranbaxy, India's biggest drugmaker by revenue and majority owned by Japan's Daiichi Sankyo Co Ltd, were down 2.9 percent at 0353 GMT, underperforming a 0.3 percent fall in the broader NSE index.

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