Investment Research and Business Due Diligence
Sunday, September 15, 2013
Ranbaxy gets import alert on Mohali Plant
Ranbaxy stock price had moved up 30 percent after the announcement of recent quarterly results, which was surprising and it made us wonder if the worries were really over
? Today morning, it was reported that the USFDA has issued an import alert on its Mohali facility. Now there are three USFDA plants of Ranbaxy that face import alert which include Dewas, Poanta Sahib apart from Mohali. Apart from these plants, Ranbaxy has 5 other USFDA approved plants in India, which incldue 2 at Gurgaon, 1 each at Noida, New Delhi and Toansa.
With the import alert extending to Mohali, it is now uncertain, whether Ranbaxy would be able to launch Valcyte and Nexium under 180-days exclusivity in the US. Ranbaxy is supposed to launch Valcyte in September and if they fail to do so until december, their 180-day exclusivity stands to be forfeited.
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