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 BSE gains; turn slightly positive for Nov

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Thu Nov 22, 2012 2:59pm IST 

* The BSE index gains 0.29 percent, while the NSE index
 advances 0.24 percent, turning slightly positive for the
month.  
* Software services stocks are among the leading gainers
tracking the weakening Indian rupee.
* Infosys gains 1.4 percent, while Wipro 
gains 1 percent.
* Banking stocks also gain on hopes the winter session of
parliament kicking off on Thursday will pass bills to liberalise
the insurance, pension and banking sectors. 
* The Indian government's move to allow state-run Life Insurance
Corp (LIC) to triple the maximum stake it can hold in other
companies to 30 percent also helping banks, dealers say.
 
* State Bank of India  gains 1.9 percent, recovering
after falling 2.3 percent in November as of Wednesday's close.
Axis Bank gains 2.1 percent.

 (abhishek.vishnoi@thomsonreuters.com /;
abhishek.vishnoi.reuters.com@reuters.net)
India Markets
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