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

Reuters Posted online: Wednesday, Feb 19, 2014 at 0000 hrs
Mumbai : 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.