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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Indian Oil Corp to cut petrol price by 2 rupees/litre

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A worker prepares to fill a jerry-can at a fuel station in Kolkata January 18, 2013. REUTERS/Rupak De Chowdhuri/Files

A worker prepares to fill a jerry-can at a fuel station in Kolkata January 18, 2013.

Credit: Reuters/Rupak De Chowdhuri/Files

Fri Mar 15, 2013 7:12pm IST

REUTERS - Indian Oil Corp said on Friday it will reduce retail selling prices of petrol from Saturday by 2 rupees/litre.

The company also said it has lost over 5 billion rupees on sale of petrol so far during the current financial year.

(Reporting by Swati Pandey in MUMBAI)
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