Stock Watch

Ranbaxy Laboratories today swung to a consolidated quarterly profit after tax of Rs 262 crore for the quarter ended December, 2009, triggered by the launch of its own copy of a blockbuster drug in the U. S., and forecast strong growth this year from new products.

Leading pharmaceutical company Ranbaxy Laboratories has announced to sell its 50 per cent stake in its Japanese joint venture with Nihon Pharmaceutical Industry (NPI) without divulging the financial details of the deal. However, media reports claim that the buyer Nippon Chemiphar, founded in 1950, would pay $18 million for the 50 per cent stake.

Ranbaxy Laboratories, India's largest pharmaceutical company, has finally got approval from the U. S. Food and Drug Administration to manufacture and market Glycopyrrolate Tablets USP, 1 mg and 2 mg in the market.

Indian markets closed above 15,000 level as buying was seen in major Banking, Metals and Capital Goods counters. Technical experts were expecting Indian markets to trade lower for the day as US markets closed lower on Monday and Asian stocks were seen lower during the start of session. However, markets surprised traders and started gaining momentum after first 30 minutes of trade.

Ranbaxy Laboratories, leading Indian drug manufacturer, has received US Food & Drug Administration's (USFDA) final approval to manufacture and sell Sumatriptan Succinate tablets.

The approval has been granted for tablets in potencies of 25 mg (base) and 50 mg (base).

India's largest pharmaceutical company Ranbaxy Laboratories clocked net loss of Rs 806.55 crore in the quarter ended December 2008 as against net profit of Rs 48.40 crore during the previous quarter ended December 2007.

In addition, the company's sales declined 2.00% to Rs 1012.72 crore in the quarter ended December 2008 as against Rs 1033.43 crore during the previous quarter ended December 2007.

Finally, Japan based drug maker Daiichi Sankyo has completed the acquisition process of Indian drug maker Ranbaxy Laboratories on Friday. The Japanese drug maker acquired remaining 11.4% stake for Rs 3,537.6 crore and its total stakes increased to 63.92%. 

Now, Daiichi has become the majority stake holder of the largest drug maker in the country. Singh family would still have some management roles in Ranbaxy. However, Ranbaxy would continue to work as an independent company.

Ranbaxy Labs good for long term investment. The company has a robust growth model and the recent fall in valuations makes the stock even more attractive. There are some issues which are a big concern for the company, however, as the stock markets will stabalize, the Ranbaxy stock will also bounce back. There are three major bad

Japanese pharmaceutical major Daiichi Sankyo Co has informed that it has acquired 52.5% equity stake of India-based Ranbaxy Laboratories.

According to the sources, with the proposed acquisition, country’s largest pharmaceutical company Ranbaxy Laboratories has become an affiliate of Daiichi Sankyo.

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.