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Stock Market & Financial Investment News

News Breaks
January 27, 2014
10:53 EDTRBXLYFDA says workers at Ranbaxy altered test results, WSJ says
According to a report by U.S. Food and Drug Administration inspectors, Ranbaxy workers altered test results to make it appear that raw materials and active pharmaceutical ingredients met required standards when they didn't, says the Wall Street Journal. Reference Link
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April 15, 2014
06:36 EDTRBXLYRanbaxy inspection failures add $900M to heart drug costs, Bloomberg says
A gap in U.S. patent law has kept cheap copies of Novartis' (NVS) heart drug Diovan off the market for 18 months, which has cost U.S. consumers and insurers as much as $900M in possible savings, reported Bloomberg. Ranbaxy (RBXLY) is the only company permitted to sell a generic version of Diovan, and hasnít been able to manufacture and market them after four factories it runs in India failed U.S. inspections. Reference Link

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