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

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Reuters MUMBAI
Last Updated : May 14 2013 | 9:50 AM IST

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)

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First Published: May 14 2013 | 9:33 AM IST

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