Ranbaxy gains after settling with NY Attorney General over collusion

Reuters Market Eye - Ranbaxy Laboratories (RANB.NS) shares gain 3.4 percent after the New York Attorney General and the U.S. units of the Indian company and Teva Pharmaceutical Industries (TEVA.TA) settled claims that an agreement between the two drugmakers unlawfully restricted competition.

“The settlement is positive for the company and since the settlement amount will not significantly impact the company. We remain neutral on the stock,” said Sarabjit Kour Nangra, an analyst tracking the sector at Angel Broking.

(Reporting by Abhishek Vishnoi)

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