Ranbaxy Laboratories is currently trading at Rs. 362.60, up by 11.45 points or 3.26 % from its previous closing of Rs. 351.15 on the BSE.
The scrip opened at Rs. 355.60 and has touched a high and low of Rs. 366.60 and Rs. 355.05 respectively. So far 619612 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 490.15 on 06-Jan-2014 and a 52 week low of Rs. 253.95 on 02-Aug-2013.
Last one week high and low of the scrip stood at Rs. 354.80 and Rs. 338.65 respectively. The current market cap of the company is Rs. 15368.35 crore.
The promoters holding in the company stood at 63.41 % while Institutions and Non-Institutions held 19.55 % and 15.38 % respectively.
Ranbaxy Laboratories and US drugmaker Teva have jointly agreed to settle an investigation launched by the New York Attorney General alleging the two rival generic drug makers made an unlawful agreement to restrict competition. As part of the settlement of the claim, the companies will terminate an agreement not to challenge each other's rights to sell certain generic drugs exclusively in the US and also agreed to refrain from entering into similar agreements in the future, besides paying a penalty of $300,000.
Ranbaxy’s concerns of not receiving US Food and Drug Administration (USFDA)’s approval in time to begin selling the drug in late 2011, made it strike a financial deal that would have allowed Teva to sell generic Lipitor in the event that it couldn't. According to reports, Ranbaxy had entered into an advance profit-sharing arrangement with Teva, which stated that if the Indian firm wins the right to sell the generic version of Pfizer’s $ 11 billion cholesterol drug Lipitor (generic name avorstatin) when its patent expired in late 2011, the US firm would not challenge the claim.Under US laws, a generic drugmaker that gets first right to sell an out-of-patent drug gets an exclusive 180-day period by the FDA, but the decision can be challenged by rivals.
Ranbaxy Laboratories, India’s largest pharmaceutical company, is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies.
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