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FDA Raises More Concerns About Ranbaxy Laboratories (RANBAXY.BO)'s India Plants, Shares Fall


1/13/2014 7:47:19 AM

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The Food and Drug Administration (FDA) has raised concerns about the manufacturing practices at a factory owned by Ranbaxy Laboratories Ltd, the Indian drugmaker said on Monday, sending its shares down to nearly a one-month low. All of Ranbaxy's India-based factories are currently banned by the FDA from exporting medicines to the United States, the company's largest market, after the regulator's inspection found violation of its so-called good manufacturing practices. The company, India's biggest drugmaker by sales, said the FDA had now filed "certain observations" about its Toansa pharmaceutical ingredients plant in the northern state of Punjab.

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