Ranbaxy shares down on $500 mln fine to settle U.S. drug safety charges

MUMBAI (Reuters) - Ranbaxy Laboratories Ltd shares were down over 1 percent in early trade on Tuesday after the generic drugmaker pleaded guilty to U.S. felony charges related to drug safety and will pay $500 million in civil and criminal fines.

The settlement is its largest-ever with a generic drugmaker over drug safety, according to the U.S. government.

(Reporting by Abhishek Vishnoi; Editing by Rafael Nam)