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Stock Market & Financial Investment News

News Breaks
April 9, 2014
07:13 EDTRBXLYIndian brokers association to ask regulator to probe Ranbaxy, Reuters says
The president of an Indian brokerage association aims to formally ask the domestic market regulator to probe trading in Ranbaxy Laboratories' shares before the announcement that it was acquired by Sun Pharmaceutical Industries, according to Reuters, citing comments from the president of the Association of National Exchanges Members of India Naresh Tejwani. Reference Link
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September 8, 2014
14:13 EDTRBXLYConnecticut AG tells FDA to speed up generic Nexium
A news release from the Connecticut Attorney General George Jepsen, dated September 4, says: In comments to a Citizen Petition filed with the FDA, Attorney General George Jepsen called on the federal agency to expeditiously end several years of delays preventing the sale of a generic form of the drug esomeprazole magnesium , esomeprazole, currently marketed under the brand name Nexium. Nexium is the second highest-selling pharmaceutical drug in the United States, and delays in approving generic versions have cost consumers and government healthcare payers billions of dollars. In his comments, Attorney General Jepsen alleges that an agreement between drug manufacturers Ranbaxy (RBXLY) and AstraZeneca Pharmaceuticals (AZN), Nexiumís brand-name manufacturer, has prevented other drug-makers from launching a generic version of the drug, ultimately harming all consumers by artificially inflating prices. Ranbaxy was first-to-file with the FDA for approval of a generic form of Nexium. AstraZeneca sued Ranbaxy for patent infringement, and the dispute was settled by an agreement that provided financial incentives for Ranbaxy to delay entry of its generic into the consumer market. Reference Link

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