Ranbaxy Laboratories declines after setback in US Court

Ranbaxy Laboratories lost 1.15% to Rs 613.50 at 11:50 IST on BSE after the company said that D.C. Federal Court has not granted temporary restraining order to block FDA approval for other ANDAs for generic version of Nexium and Valganciclovir.

The announcement was made during market hours today, 26 November 2014.

Meanwhile, the S&P BSE Sensex was down 44.09 points or 0.16% at 28,293.96.

On BSE, so far 52,000 shares were traded in the counter as against average daily volume of 1.61 lakh shares in the past one quarter.

The stock hit a high of Rs 624 and a low of Rs 613 so far during the day. The stock had hit a record high of Rs 697.50 on 10 November 2014. The stock had hit a 52-week low of Rs 306.05 on 27 January 2014.

The large-cap pharma firm has equity capital of Rs 212.29 crore. Face value per share is Rs 5.

It may be recalled that Ranbaxy Laboratories had filed a complaint against the US FDA in D.C. Federal Court and had also asked the Court for a temporary restraining order to prevent any further action by FDA until Ranbaxy's case is decided.

Ranbaxy Laboratories reported a consolidated net profit of Rs 477.76 crore in the quarter ended 30 September 2014 compared with net loss of Rs 454.17 crore in the quarter ended 30 September 2013. Net sales rose 17.01% to Rs 3218 crore in the quarter ended 30 September 2014 over the quarter ended 30 September 2013.

Ranbaxy Laboratories 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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