bkaguy
09-19-08, 01:26 AM
not specifically but it will be soon.
http://www.ft.com/cms/s/0/c202cdf4-8519-11dd-b148-0000779fd18c.html
FDA imposes Ranbaxy import ban
By James Lamont in New Delhi and Andrew Jack in London
Published: September 18 2008 03:00 | Last updated: September 18 2008 03:00
<script type="text/javascript" language="javascript"> function floatContent(){var paraNum = "3" paraNum = paraNum - 1;var tb = document.getElementById('floating-con');var nl = document.getElementById('floating-target');if(tb.getElementsByTagName("div").length> 0){if (nl.getElementsByTagName("p").length>= paraNum){nl.insertBefore(tb,nl.getElementsByTagNam e("p")[paraNum]);}else {if (nl.getElementsByTagName("p").length == 3){nl.insertBefore(tb,nl.getElementsByTagName("p")[2]);}else {nl.insertBefore(tb,nl.getElementsByTagName("p")[0]);}}}}</script>A decision by US regulators to ban imports of more than 30 medicines produced by Ranbaxy, India's largest drugmaker, because of concerns over their manufacture triggered a decline of as much as 10 per cent in
its share price yesterday.
The ruling - the second high-profile US action against the company this year - cast a fresh shadow over the planned acquisition of the company by Daiichi Sankyo of Japan, which stressed last night that the deal would still go ahead.
It also threatened to sharply dent Ranbaxy's international growth, with analysts estimating that the ruling affected drugs accounting for 10-15 per cent of its US sales, which last year were $390m.
The US Food and Drug Administration issued an "import alert", instructing border officials to return or destroy drugs made in the two Ranbaxy plants of Dewas and Paonta Sahib, including simvastatin, the top-selling generic cholesterol-lowering drug.
It identified violations to "good manufacturing practice" which meant it could not be sure that processing took place in sterile conditions or that there was protection against cross-contamination of pharmaceuticals. It stressed it had not found evidence that Ranbaxy had shipped defective products.
The FDA said it would maintain the ban on imports and refuse regulatory app-rovals of products from the two sites until Ranbaxy had addressed its concerns.
Janet Woodcock, director of the FDA's Center for Drug Evaluation and Research, said: "With this action we are sending a clear signal that drug products intended for use by American consumers must meet our standards of safety and quality."
A spokesman for Ranbaxy said yesterday the company was "disappointed" with the decision, and added it would work with the US authorities to overcome the difficulties.
"We've been selling our products in the US for over a decade. Even after this development, the FDA is telling customers to continue with Ranbaxy medicines."
The troubles come only two months after the US Justice Department stepped up legal action against Ranbaxy, alleging adulteration of some of its products - claims that the company has called "baseless".
Agencies yesterday quoted a spokesman for Daiichi Sankyo stressing it would go ahead with its $4.6bn purchase of a controlling stake announced in June, and reinforced with an offer to buy a further 20 per cent. It is the largest foreign take-over of an Indian company.
The US faces heightened public concern over drug quality following the discovery this year of life-threatening substandard Heparin, a blood thinner, in which contamination in raw materials supplied from China was found.
http://www.ft.com/cms/s/0/c202cdf4-8519-11dd-b148-0000779fd18c.html
FDA imposes Ranbaxy import ban
By James Lamont in New Delhi and Andrew Jack in London
Published: September 18 2008 03:00 | Last updated: September 18 2008 03:00
<script type="text/javascript" language="javascript"> function floatContent(){var paraNum = "3" paraNum = paraNum - 1;var tb = document.getElementById('floating-con');var nl = document.getElementById('floating-target');if(tb.getElementsByTagName("div").length> 0){if (nl.getElementsByTagName("p").length>= paraNum){nl.insertBefore(tb,nl.getElementsByTagNam e("p")[paraNum]);}else {if (nl.getElementsByTagName("p").length == 3){nl.insertBefore(tb,nl.getElementsByTagName("p")[2]);}else {nl.insertBefore(tb,nl.getElementsByTagName("p")[0]);}}}}</script>A decision by US regulators to ban imports of more than 30 medicines produced by Ranbaxy, India's largest drugmaker, because of concerns over their manufacture triggered a decline of as much as 10 per cent in
its share price yesterday.
The ruling - the second high-profile US action against the company this year - cast a fresh shadow over the planned acquisition of the company by Daiichi Sankyo of Japan, which stressed last night that the deal would still go ahead.
It also threatened to sharply dent Ranbaxy's international growth, with analysts estimating that the ruling affected drugs accounting for 10-15 per cent of its US sales, which last year were $390m.
The US Food and Drug Administration issued an "import alert", instructing border officials to return or destroy drugs made in the two Ranbaxy plants of Dewas and Paonta Sahib, including simvastatin, the top-selling generic cholesterol-lowering drug.
It identified violations to "good manufacturing practice" which meant it could not be sure that processing took place in sterile conditions or that there was protection against cross-contamination of pharmaceuticals. It stressed it had not found evidence that Ranbaxy had shipped defective products.
The FDA said it would maintain the ban on imports and refuse regulatory app-rovals of products from the two sites until Ranbaxy had addressed its concerns.
Janet Woodcock, director of the FDA's Center for Drug Evaluation and Research, said: "With this action we are sending a clear signal that drug products intended for use by American consumers must meet our standards of safety and quality."
A spokesman for Ranbaxy said yesterday the company was "disappointed" with the decision, and added it would work with the US authorities to overcome the difficulties.
"We've been selling our products in the US for over a decade. Even after this development, the FDA is telling customers to continue with Ranbaxy medicines."
The troubles come only two months after the US Justice Department stepped up legal action against Ranbaxy, alleging adulteration of some of its products - claims that the company has called "baseless".
Agencies yesterday quoted a spokesman for Daiichi Sankyo stressing it would go ahead with its $4.6bn purchase of a controlling stake announced in June, and reinforced with an offer to buy a further 20 per cent. It is the largest foreign take-over of an Indian company.
The US faces heightened public concern over drug quality following the discovery this year of life-threatening substandard Heparin, a blood thinner, in which contamination in raw materials supplied from China was found.