Indian employees of the Ranbaxy Laboratories Limited pharmaceutical Indian factory leave work at the end of the day at Toansa village in Ropar about 50 Km from Chandigarh on May 14, 2013. The US subsidiary of New Delhi-based Ranbaxy Laboratories pleaded guilty to seven counts of felony after it distributed several India-produced adulterated generic drugs in the United States in 2005 and 2006. They were all made in a facility near Chandigarh city in northern India, which US Food and Drug Administration inspectors cited for poor record keeping and inadequate testing for the stability of the drugs over time.
A view of the Ranbaxy Laboratories Limited pharmaceutical Indian factory at Toansa village in Ropar about 50 Km from Chandigarh on May 14, 2013. The US subsidiary of New Delhi-based Ranbaxy Laboratories pleaded guilty to seven counts of felony after it distributed several India-produced adulterated generic drugs in the United States in 2005 and 2006. They were all made in a facility near Chandigarh city in northern India, which US Food and Drug Administration inspectors cited for poor record keeping and inadequate testing for the stability of the drugs over time.
A Ranbaxy office building is pictured in the northern Indian city of Mohali May 14, 2013. Indian generic drugmaker Ranbaxy Laboratories Ltd pleaded guilty on Monday to felony charges related to drug safety and will pay $500 million in civil and criminal fines under the settlement agreement with the U.S. Department of Justice. The settlement is its largest-ever with a generic drugmaker over drug safety, according to the U.S. government. It includes $150 million in payments for a criminal fine and forfeiture and $350 million in payments for civil claims.
Ranbaxy-manufactured products are stacked on the counter as an Indian chemist talks on his mobile phone at his shop in New Delhi on May 14, 2013. US authorities announced Monday a 500 million dollar fine against Indian generic pharmaceutical manufacturer Ranbaxy after it pleaded guilty to selling adulterated drugs in the United States. Ranbaxy USA, the US subsidiary of Ranbaxy Laboratories Limited, based near New Delhi, pleaded guilty to seven counts of felony after it distributed several India-produced adulterated generic drugs in the US in 2005-2006.
New Delhi: Drug major Ranbaxy Laboratories today reported a consolidated net loss of Rs 492.44 crore for the fourth quarter ending December 31, 2012, mainly on account of recall of its cholesterol lowering drug atorvastatin calcium tablets in the US market and currency fluctuation.
The company had posted a consolidated net loss of Rs 2,982.76 crore during the corresponding quarter of previous fiscal. During the period under review, consolidated net sales of the company stood at Rs 2,670.80 crore as against Rs 3,752.01 crore for the same quarter last fiscal.
Drugmaker Ranbaxy Laboratories has voluntarily recalled its cholesterol-lowering drug atorvastatin in the United States, a development that could dent its image further in the world's biggest prescription drug market where the company faced an earlier ban.
Ranbaxy did not specify the reason for the recall of the drug, which largely drove the company's sales in the first of half the year. Shares of the company fell more than 4 percent following the announcement.
