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)

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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-Indian financials gain on RBI draft rules on sector

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Thu Dec 13, 2012 1:57pm IST 

* Shares in non-banking finance companies gain after Reserve
Bank of India's unveils draft guidelines for capital in the
sector that are seen less stringent than feared.
* RBI wants non-bank lenders to set aside more capital for
lending in stock and real estate sectors and to improve the
quality of liquid assets they hold to reduce systemic risk from
the sector. 
* RBI also proposes to raise Tier I capital requirements across
the sector to a lower level than market participants had
anticipated. 
 * L&T Finance Holdings gains 0.8 percent, Mahindra
and Mahindra Financial Services is up 0.9 percent,
while LIC Housing Finance gains 0.8 percent.

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