Ranbaxy falls; suspends shipments from two plants
MUMBAI (Reuters) - Shares of Ranbaxy Laboratories(RANB.NS) fell as much as 2.7 percent after the drug maker said on Tuesday it has suspended shipments of pharmaceutical ingredients produced at its Toansa and Dewas plants.
"This voluntary decision was taken as a precautionary measure and out of abundant caution to better allow the company to assess and review the processes and controls. The company will resume shipments after reassuring them about the processes and controls at these facilities," Ranbaxy said in an exchange filing.
Ranbaxy shares were trading up 0.7 percent at 11.46 a.m.
(Reporting by Abhishek Vishnoi; Editing by Subhranshu Sahu)
- Tweet this
- Share this
- Digg this
Trending On Reuters
Prime Minister Narendra Modi's Bharatiya Janata Party (BJP) will not win enough seats to form a government in Jammu and Kashmir, two exit polls showed on Saturday, dampening its hopes of taking control of the state for the first time. Full Article