Ranbaxy Lab dips after drug recall from US market

The company said it has made a recall of Atorvastatin from the USA market which will cause temporary disruption to that market of this product.

Ranbaxy Laboratories is trading lower by 2% at Rs 504 after the pharmaceutical firm said that it has recalled Atorvastatin, a generic version of Lipitor, from the USA market.

"The company has made a recall of Atorvastatin from the USA market which will cause temporary disruption to that market of this product. The investigation with regard to the same of this issue is expected to be completed within two weeks and thereafter the Company expects to resume supplies,” Ranbaxy Laboratories said in a statement.

The stock opened at Rs 515 and hit a low of Rs 503 on the BSE. A combined 427,229 shares have changed hands on the counter till early noon deals.