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Ranbaxy Laboratories gains on inking consent decree with USFDA

21 Dec 2011 Evaluate

Ranbaxy Laboratories is currently trading at Rs. 398.85, up by 3.50 points or 0.89% from its previous closing of Rs. 395.35 on the BSE.

The scrip opened at Rs. 401.50 and has touched a high and low of Rs. 404.50 and Rs. 398.00 respectively. So far 24,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 611.75 on 04-Jan-2011 and a 52 week low of Rs. 366.50 on 19-Dec-2011.

Last one week high and low of the scrip stood at Rs. 404.50 and Rs. 366.50 respectively. The current market cap of the company is Rs. 16831.00 crore.

The promoters holding in the company stood at 63.75% while Institutions and Non-Institutions held 20.50% and 14.00% respectively.

Ranbaxy Laboratories (Ranbaxy) has inked a consent decree with the US Food and Drug Administration (USFDA). The company has committed to further strengthen procedures and policies to ensure data integrity and to comply with current good manufacturing practices. The consent decree is subject to approval by the United States District Court for the District of Maryland.

Separately, the company intends to make a provision of $500 million in connection with the investigation by the US Department of Justice, which the company believes will be sufficient to resolve all potential civil and criminal liability.

Ranbaxy Laboratories is India's largest pharmaceutical company. The company has global presence in 49 countries and is ranked amongst top ten global generics companies. Ranbaxy has world-class manufacturing facilities in 11 countries namely Brazil, China, Ireland, India, Japan, Malaysia, Nigeria, Romania, South Africa, USA and Vietnam.

Peers
Company Name CMP
Sun Pharma Inds. 1675.20
Dr. Reddys Lab 1235.40
Cipla 1238.30
Zydus Lifesciences 942.55
Lupin 2324.25
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