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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A pharmacist counts pills in a pharmacy in Toronto in this January 31, 2008 file photo. REUTERS/Mark Blinch/Files

A pharmacist counts pills in a pharmacy in Toronto in this January 31, 2008 file photo.

Credit: Reuters/Mark Blinch/Files

MUMBAI | Mon Feb 11, 2013 9:38am IST

MUMBAI (Reuters) - Cadila Healthcare (CADI.NS) shares fell as much as 8.9 percent after October-December earnings disappointed on Friday, followed by broker downgrades.

Cadila said its December quarter net profit fell by 30.9 percent to 1.03 billion rupees.

Credit Suisse downgraded the stock to "neutral" from "outperform", citing delay in contribution from higher margin products.

(Reporting by Abhishek Vishnoi; Editing by Jijo Jacob)
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