Ranbaxy may look to buy FDA-approved plant in India

Ranbaxy Laboratories may be looking to buy an FDA-approved plant in India now that its three have been banned from exporting products to the U.S. The company is not commenting, but sources tell The Economic Times that the company has close to 30 applications pending for generic drugs and could lose $1 billion in revenue if it can't get to market with copycats of drugs like Diovan, Valcyte and Nexium. In September, the FDA banned drugs from Ranbaxy's Mohali plant because of serious deficiencies. Two other plants are still banned due to problems the company ran into in 2008 when it was found to be making subpar drugs and lying to the FDA about them. It now has only a plant in New Jersey that can sell into the U.S. market, but it is reportedly already at capacity. Story | More