Drug Safety Settlement

A Ranbaxy office building is pictured in the northern Indian city of Mohali May 14, 2013. Indian generic drugmaker Ranbaxy Laboratories Ltd pleaded guilty on Monday to felony charges related to drug safety and will pay $500 million in civil and criminal fines under the settlement agreement with the U.S. Department of Justice. The settlement is its largest-ever with a generic drugmaker over drug safety, according to the U.S. government. It includes $150 million in payments for a criminal fine and forfeiture and $350 million in payments for civil claims. REUTERS/Ajay Verma (INDIA - Tags: HEALTH BUSINESS)

Daiichi Sankyo says it was misled over Ranbaxy U.S. probes

Japanese drugmaker Daiichi Sankyo Co, which bought control of Ranbaxy Laboratories in 2008, said it believes unnamed former shareholders of the company hid information regarding U.S. regulatory probes into Ranbaxy.  Full Article 

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MARKET EYE-India's ONGC falls on weaker-than-expected earnings

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Fri Nov 9, 2012 11:44am IST 

* Shares in state-run producer Oil & Natural Gas Corp 
fall as much as 2.5 percent a day after posting a
bigger-than-expected fall in July-September net profit due to
higher subsidies. 
* Lower production is another concern, analysts say: HSBC
estimates ONGC posted a fourth sequential quarterly decline in
crude oil production. 
* HSBC maintains its 'neutral' rating on the stock with a target
price at 300 rupees. 
* ONGC shares down 2.3 percent at 259.15 rupees as of 0613 GMT. 

 (manoj.dharra@thomsonreuters.com/abhishek.vishnoi@thomsonreuter
.com)
India Markets
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