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Ranbaxy Laboratories (RANBAXY.BO) Crashes on FDA Import Alert for Mohali Unit; Stock Falls -30.27% at Market Close (September 16, 2013)


9/16/2013 8:01:52 AM

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Shares of Ranbaxy Laboratories lost 35 percent in early trade to fall below Rs 300 Monday as US Food & Drug Administration (USFDA) issued an import alert on the company's Mohali unit on September 13. The import alert was due to non compliance with drug good manufacturing practices (GMPs). After the problems at Paonta Sahib and Dewas, the USFDA now has a problem per se with its unit at Mohali.

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