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Ranbaxy Laboratories gains ground amidst sluggish trade

19 Aug 2011 Evaluate

Ranbaxy Laboratories is currently trading at Rs 479.50, up by 3.80 points or 0.80% from its previous closing of Rs 475.70 on the BSE.

The scrip opened at Rs 470.00 and has touched a high and low of Rs 483.35 and Rs 469.00 respectively. So far 33000 shares were traded on the counter.

The BSE group 'A' stock of face value Rs 5 has touched a 52 week high of Rs 624.90 on 11-Nov-2010 and a 52 week low of Rs 414.00 on 05-May-2011.

Last one week high and low of the scrip stood at Rs 487.55 and Rs 459.80 respectively. The current market cap of the company is Rs 20051.08 crore.

The promoters holding in the company stood at 63.77% while Institutions and Non-Institutions held 20.71% and 13.81% respectively.

Ranbaxy Laboratories may part away with its rights to make a generic version of Pfizer Inc's Lipitor, the world's best-selling medicine, if it fails to win timely US approval for the cholesterol pill as stated in some media reports.

A legal settlement with Pfizer gave Ranbaxy six months' exclusivity to market generic Lipitor in the US. However, delays in Food and Drug Administration approval may prevent the Indian company from selling its copies as planned from November 30.

 An FDA investigation into quality standards at two Ranbaxy manufacturing plants and a federal investigation into its testing practices have delayed approval of the drug copy. However, there are reports stating that the Federal prosecutors are negotiating a dispute settlement that may cost Ranbaxy more than $1 billion.

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. 1664.00
Dr. Reddys Lab 1224.70
Cipla 1234.50
Zydus Lifesciences 929.35
Lupin 2311.95
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