Ranbaxy Laboratories shares gains after settling with NY Attorney General over collusion

Written by Reuters | Mumbai | Updated: Feb 20 2014, 00:45am hrs
RanbaxyRanbaxy Laboratories and Teva Pharma have settled US anti-trust probe for $300,000.
Ranbaxy Laboratories Ltd shares gain 3.4 per cent after the New York Attorney General and the US units of the Indian company and Teva Pharmaceutical Industries settled claims that an agreement between the two drugmakers unlawfully restricted competition.

"The settlement is positive for the company and since the settlement amount will not significantly impact the company. We remain neutral on the stock," said Sarabjit Kour Nangra, an analyst tracking the sector at Angel Broking.