Ranbaxy Laboratories surges as its arm gets USFDA nod for Absorica

Ranbaxy Laboratories Ltd.- (Amalgamation) | Pharmaceuticals & Drugs | Healthcare | BSE: 500359 | NSE: RANBAXY

29 May 2012 Evaluate

Ranbaxy Laboratories is currently trading at Rs. 539.00, up by 14.30 points or 2.73% from its previous closing of Rs. 524.70 on the BSE.

The scrip opened at Rs. 525.00 and has touched a high and low of Rs. 542.15 and Rs. 525.00 respectively. So far 259885 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 570.00 on 02-Aug-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. 542.15 and Rs. 488.35 respectively. The current market cap of the company is Rs. 22842.62 crore.

The promoters holding in the company stood at 63.67% while Institutions and Non-Institutions held 20.47% and 13.82% respectively.

Ranbaxy Laboratories’ wholly owned subsidiary Ranbaxy Laboratories Inc (RLI) has received US Food and Drug Administration (USFDA) approval for Absorica, a novel, patented brand formulation of the acne medication isotretinoin, developed by Cipher, for the treatment of severe recalcitrant nodular acne.

Through a business agreement with the Canadian firm, Cipher Pharmaceutical Inc, RLI is expected to launch Absorica in the US in Q4 2012; as per the agreement, Ranbaxy will pay royalties on net sales to Cipher.

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.

Ranbaxy Labs. Share Price

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Company Name	CMP
Sun Pharma. Inds.	1935.25
Dr. Reddys Labs.	1245.50
Cipla	1438.75
Zydus Lifesciences	1150.50
Lupin	2496.05
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