Ranbaxy "responded" to US probe
19 November 2008 00:00 in Pharmacy Supplier News
Ranbaxy has said it has "responded" to a US probe into alleged procedural violations at two of its Indian factories.
Speaking on Monday, its chief executive said the company expects an early resolution to the matter.
Malvinder Singh explained at the India Economic Summit that the organisation is cooperating with investigations.
The US Food and Drug Administration (FDA) said in September it would block more than 30 of Ranbaxy's generic drugs from entering the country, due to violations in manufacturing.
The FDA has additionally cited the organisation for failing to fix numerous record-keeping and operational problems since 2006, with investigators probing the company among allegations it submitted false data to the agency, in order to support generic drug applications.
Following a deal with Daiichi Sankyo, Ranbaxy is now majority controlled by the Japanese company and also denies it sold misbranded or adulterated drugs.
It is now seeking advice from former New York City mayor Rudolph Giuliani in its attempts to contest the ban.
Ranbaxy was established in 1961, before going public in 1973, with global sales reaching $1,619 million (1.07 billion pounds) in 2007 - reflecting a growth of 21 per cent.
The organisation has manufacturing facilities in 11 countries.
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Story collated for Zenopa by the Adfero News Agency