Ranbaxy's manufacturing mess results in $606M loss

The manufacturing problems that brought about groundbreaking Department of Justice oversight of Ranbaxy Laboratories ($RBXY) has led to a $500 million charge and a $606 million loss for the fourth quarter. That loss represents the biggest quarterly loss in four years for India's largest generic drugmaker. In addition to significant lapses in its manufacturing practices, the FDA and DOJ found that Ranbaxy had falsified documentation. The consent decree forced the company to upgrade facilities, lose exclusivity on some drugs for a period and even set up an employee whistleblower program. Story | More 
 

Suggested Articles

Recipharm has been building its capabilities in sterile injectable and inhalation drugs. Now it is buying a CDMO that manufactures devices for both.

The FDA has slapped the parent of Dollar Tree stores with a warning letter saying some CMOs that made its OTC products were among the world's worst.

GSK expects Shingrix supplies to rise slightly in 2020, but the real "step change" will come in 2024 with a brand-new manufacturing facility.