ARTICLE | Company News

Ranbaxy, Daiichi slide on FDA import alert

January 25, 2014 1:38 AM UTC

Ranbaxy Laboratories Ltd. (NSE:RANBAXY; BSE:500359) and majority owner Daiichi Sankyo Co. Ltd. (Tokyo:4568) both fell on Friday after FDA issued an import alert on another Ranbaxy facility due to "significant" cGMP violations. Ranbaxy's Toansa, India, facility is now included in a consent decree with FDA, and Ranbaxy is prohibited from manufacturing APIs for FDA-regulated drugs until the facility is in compliance with cGMP standards. In September, FDA issued an import alert on drug products manufactured at another Ranbaxy facility in Mohali, India. Ranbaxy declined to disclose details, including whether the company has any facilities without import restrictions by FDA (see BioCentury Extra, Sept. 16, 2013). ...