Company to assess cost of consent decree by next qtr

Written by Soma Das | New Delhi | Updated: May 10 2012, 06:12am hrs
The top management of Ranbaxy Laboratories indicated on Wednesday that the company would be in a position to assess the cost of implementing the consent decree it signed with the US drug regulator by the end of next quarter. This, the top executives of the company said, would be possible as the consultants it hires would visit its plants in the next quarter and suggest remedial measures, if any. Ranbaxy CEO Arun Sawhney said, We have fulfilled all obligations due under the consent decree on time till now. We have hired consultants who are scheduled to visit the plants next quarter. Depending on many variables such as the number of hours they would need to clock and the various measures they may suggest, we would have to work out the costs towards the end of next quarter.

He, however, added that the company has been voluntarily upgrading its facilities and believes that large part of expenditure on that account has already been incurred.