Ranbaxy falls over 30% after FDA import alert
Sep 16 2013 , Mumbai
The FDA issued the alert on Friday, as per FDA's website. A spokesman for Ranbaxy did not have immediate comment on the FDA action.
Brokerage HSBC in a research note on Monday downgraded Ranbaxy, controlled by Japan's Daiichi Sankyo Co (4568.T), to "underweight" from "overweight" citing the import alert.
The company in May had pleaded guilty to U.S. felony charges related to drug safety and agreed to $500 million in fines.