Ranbaxy Laboratories Ltd has decided to close its manufacturing facility located at Jejuri, Pune with effect from July 13 saying the plant has become unviable. The formulation drugs manufacturing plant is engaged in the production of steroidal and non-steroidal creams, ointments and lotions and non-beta-lactum tablets.
The company has another 4 formulation drugs manufacturing plants across India, while outside the country, it has 8 formulation plants. Ranbaxy has two active pharmaceutical ingredients (API) manufacturing plants in Punjab.
The share price of Ranbaxy on Friday closed at Rs 353.30 with a loss of Rs 5.30 or 1.48%. The stock opened the day at Rs 361 and touched an intra-day high of Rs 361.90 and a low of Rs 352.75. The stock in the last one week has lost Rs 8.65 or 2.39% in BSE.
During this week, the company faced a setback in patent litigation over lipitor following High Court in Dublin, Ireland ruled that the basic patent covering atorvastatin, the active ingredient in lipitor, would be infringed by a competitor product from Ranbaxy.
The decision, which is subject to a possible appeal, prevents Ranbaxy from launching its drug before the basic lipitor patent expires in November 2011.