Ranbaxy says Daiichi deal on track

In an attempt to allay the fears of the investor community, Ranbaxy, whose stocks plunged over 10 per cent at 3:20 pm today also stated that it's business in the US continues as normal.

"Ranbaxy remains committed to providing high quality generic medicines at affordable prices to its customers and patients in the United States" the company said.

 

In a statement, Ranbaxy strongly denied the allegations raised by the US Department of Justice (DOJ). "No legal proceedings in the sense of a prosecution have been initiated. The Company continues to cooperate with the DOJ in regards to the investigation and has agreed to produce the specific documents sought by the Motion", it said.

Ranbaxy will be filing a response today in the US District Court for The District of Maryland and will strongly defend its position.

The company clarified that an investigation by US Food and Drugs Administration (USFDA) has been underway against Ranbaxy for approximately three years and no charges have been filed against the Company.

"The USFDA has also gathered over 200 random samples of various products marketed by the company in the US. These products have been independently tested by the USFDA and were found to be complying with all the specifications. Under these circumstances the company finds that the allegations are baseless", the company said.