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

Feb 19 2014, 19:15 IST
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Ranbaxy Laboratories and Teva Pharma have settled US anti-trust probe for $300,000. Ranbaxy Laboratories and Teva Pharma have settled US anti-trust probe for $300,000.
SummaryRanbaxy, Teva have settled claims that the drugmakers unlawfully restricted competition.

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.

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