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India's Ranbaxy falls on media report of U.S. FDA query on plant
June 24, 2013 / 4:17 AM / 4 years ago

India's Ranbaxy falls on media report of U.S. FDA query on plant

MUMBAI (Reuters) - Shares of Ranbaxy Laboratories Ltd fell as much as 2.3 percent on Monday after newspaper Business Standard reported the U.S. Food and Drug Administration had raised concerns about a plant in northern India, citing unidentified sources.

A general view of the office of Ranbaxy Laboratories is pictured at Gurgaon, on the outskirts of New Delhi, June 13, 2013. REUTERS/Adnan Abidi

Business Standard said the FDA had issued form 483 to Ranbaxy regarding its Mohali plant. That form is issued when U.S. inspectors see conditions they believe may violate U.S. rules.

A Ranbaxy spokesman declined to comment when asked if the drug maker had received the 483 form.

“We continue to make regulatory submissions from Mohali and will commercialize products from Mohali when we get approvals,” he said.

The U.S. FDA was not immediately reachable for comment.

Ranbaxy shares were down 1.8 percent at 0355 GMT (11.55 p.m. EDT Sunday), compared with a 0.7 percent fall in the broader NSE index.

Reporting by Kaustubh Kulkarni and Rafael Nam; Editing by Michael Urquhart

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