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Ranbaxy falls; suspends shipments from two plants
February 25, 2014 / 4:17 AM / 4 years ago

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.

A Ranbaxy office building is pictured in Mohali May 14, 2013. REUTERS/Ajay Verma/Files

“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

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