Markets :: Fine Chemicals/Biotech :: Pharmaceutical ingredients
Ranbaxy’s API sales fall on lower demand
2:56 AM MST | February 7, 2014 | Deepti Ramesh
The active pharmaceutical ingredient (API) business of Ranbaxy Laboratories (Gurgaon, India) reports sales of 1.37 billion Indian rupees ($22 million) in the fourth quarter of 2013, compared with sales of Rs2.14 billion in the year-ago quarter. For the full year 2013, the API business reports sales of Rs6.92 billion, compared with sales of Rs7.30 billion in 2012. Sales in the API business were affected by lower demand, Ranbaxy says. Earnings figures for the API business were not disclosed. Last month, the US Food and Drug Administration (FDA) prohibited Ranbaxy...
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