Keyword: Ranbaxy Laboratories
After more than two years of intense effort, Sun Pharma has returned its key plant to the good graces of the FDA.
Sun Pharmaceuticals has increased its ownership in its Malaysia production venture twice in three months and now holds an 85.9% share.
Sun Pharma has worked its way out from underneath an FDA ban on a plant it got in its 2015 buyout of Ranbaxy Laboratories.
In 2013, it looked as if AstraZeneca and Ranbaxy could face billions in damages in a lawsuit alleging they struck an illegal deal to block a Nexium generic. Now, that cloud has lifted.
India's FMRAI union is calling for a mass strike by pharma sales reps in November as protests over working practices gather strength.
Sun Pharma's takeover of Ranbaxy is not sitting well with some of the latter's sales reps. Hundreds are threatening an all-out strike later this month, saying they haven't been paid in months.
Daiichi Sankyo claimed it had been deceived about manufacturing problems at Ranbaxy Laboratories when it bought controlling interest in the Indian company. An arbitration court agreed.
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