Ranbaxy Violates US Requirements Of Generic Drugs

Alleging that Ranbaxy’s two factories – located in Dewas and in Paonta Sahib – have made extensive violations of US requirements, the Food and Drug Administration (FDA) issued the ‘import alert’ for generic drugs manufactured at these two factories. This means that the FDA would ‘block’ the import of nearly 30 generic drugs made by this Indian pharmaceutical company owing to its failure in meeting manufacturing standards.

The FDA’s Import Alert is with reference to drugs like - ‘simvastatin’ and ‘pravastatin’ that lower the cholesterol; the antibiotic ‘clarithromycin’; HIV drugs ‘lamivudine’ and ‘zidovudine’; as well as the diabetes drug ‘metformin’.

Warning letters have also been issued to the company by the FDA, highlighting its ‘concern’ that Ranbaxy – a leading supplier of generic drugs in the US market - displayed ‘deficiencies in the company’s drug manufacturing processes’.

The director of the FDA’s Center for Drug Evaluation and Research, Janet Woodstock, 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.”

However, the FDA does not have any immediate plans of removing Ranbaxy drugs already on the market, primarily because till date there is no substantial evidence that Ranbaxy ‘has shipped defective products’. Moreover, the FDA’s current move would also not affect products from Ranbaxy’s other drug manufacturing plants.

Dr. Douglas Throckmorton, deputy director of FDA’s Center for Drug Evaluation and Research, said during a teleconference that – “To date, we have seen no evidence of harm to consumers from drugs produced at these two facilities and have no reason to believe that drugs already in the United States from these plans pose a safety problem.”


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Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Reliance Industries Purchase an Additional 0.68% Interest in EIH Ltd.

Owner of Energy giant Reliance Industries, Mukesh Ambani has put in an extra 0.68% in EIH Ltd. With this, his total stake in the hotel chain has increased to 14.8%. In a filing to the Bombay Stock Exchange, EIH said that the shares were purchased from the market on Tuesday.

Shares of Reliance surged 0.3% at Rs. 939.3 in proportion to the Mumbai market at 1.26pm, while EIH shares witnessed a 4.5% rise at Rs. 150.2.

On Monday, Reliance was quoted saying that it is widening its horizon and has procured 14.12% stake in EIH for a sum of $217.5 million.

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

Bajaj Auto Records 55% Surge in Sales of Vehicles in August

On Thursday, Bajaj Auto posted a 55% increase in its sales of vehicles. In the month of August, the Company recorded sales of 3,29,364 vehicles, compared to 2,13,072 units in the same month the year before.

Last month, 2,89,176 two wheelers were sold by Bajaj Auto, a big surge than 1,82,441 units, which were sold in August 2009. The Company’s cumulative sales of two wheelers for the time frame between April and August 2010 increased by 68% and were recorded at 1,397,348 units. The number was high from 833,235 units that were retailed during the same period last year.