The details of this news item is scary and it is nothing to do with the 10% fall in share price. I have extracted the following from Financial Times.
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.
Ok. Fair enough.
But what about those drugs that are manufactured in the above mentioned Ranbaxy plants and are available in India? The ban is on 30 generic drugs.
Shouldn't the drugs control authorities in India also look into it?
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