Ranbaxy Laboratories shares fall after US drug recall

Written by Reuters | Mumbai | Updated: Mar 11 2014, 00:14am hrs
Ranbaxy LaboratoriesRanbaxy has recalled more than 64,000 bottles of a cholesterol drug in the US after doseage mix-up was detected.
Shares in Ranbaxy Laboratories Ltd fell as much as 3.8 per cent on Monday after the drug maker recalled more than 64,000 bottles of the generic version of a cholesterol-lowering drug in the United States after doseage mix-up was detected.

Ranbaxy confirmed the recall of select batches of the drug, a generic version of Pfizer Inc's Lipitor, but said the company had not received any product complaints.

Shares in Ranbaxy, India's biggest drugmaker by revenue and majority owned by Japan's Daiichi Sankyo Co Ltd, were down 2.9 percent at 0353 GMT, underperforming a 0.3 percent fall in the broader NSE index.