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Ranbaxy Laboratories inches up as its arm launches authorized generic of Pioglitazone in the US

21 Aug 2012 Evaluate

Ranbaxy Laboratories is currently trading at Rs. 515.30, up by 0.25 points or 0.05% from its previous closing of Rs. 515.05 on the BSE.

The scrip opened at Rs. 515.00 and has touched a high and low of Rs. 520.40 and Rs. 513.05 respectively. So far 47,000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 542.15 on 29-May-2012 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. 520.40 and Rs. 474.95 respectively. The current market cap of the company is Rs. 21,759.00 crore.

The promoters holding in the company stood at 63.66% while Institutions and Non-Institutions held 20.74% and 13.61% respectively.

Ranbaxy Laboratories’ (RLL) wholly owned subsidiary - Ranbaxy Pharmaceuticals Inc., has launched authorized generic pioglitazone hydrochloride tablets in the US market, under an agreement with Takeda Pharmaceuticals U.S.A., Inc.

Pioglitazone hydrochloride tablets is an oral antidiabetic agent that acts primarily by decreasing insulin resistance, presently distributed by Takeda Pharmaceuticals America, Inc. under the brand name Actos. The product is indicated for patients as an adjunct to diet and exercise to improve glycemic controls in adults with type 2 diabetes mellitus. Actos generated total annualized sales of $2.7 billion in the US (IMS - MAT June 2012).

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. 1665.25
Dr. Reddys Lab 1220.75
Cipla 1232.90
Zydus Lifesciences 928.85
Lupin 2311.75
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