Ranbaxy extends gain on resuming drug exports to US

Ranbaxy Laboratories is trading higher by 3% at Rs 491, extending its 6% gain in past three trading days, after the pharmaceutical company said that it has resumed exports of cholesterol-lowering drug, Atorvastatin to the US market from its Mohali (Punjab) manufacturing facility.

“The first consignment of atorvastatin tablets was dispatched to the US market in March this year. The Mohali facility will supplement the company's current production from its US-based subsidiary, Ohm Laboratories Inc,” Ranbaxy said in a filing to the stock exchanges.

A combined 4.5 million shares have changed hands on the counter so far on the NSE and BSE.