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Daiichi Sankyo's shares drop as Ranbaxy confirms FDA import alert

17.09.2013

Shares in Daiichi Sankyo fell as much as 8 percent Tuesday in response to an FDA import alert imposed on Ranbaxy’s Mohali facility in India. Cantor Fitzgerald analyst Emilia Falcetti remarked «it is clear that Daiichi suffers from the continuing risks associated with the generic manufacturer," adding «the company will likely suffer a big reputational hit and concerns over management credibility will increase." Ranbaxy, which is majority owned by Daiichi Sankyo, confirmed Tuesday a communication from the FDA regarding the import alert, noting that the company will «take all necessary steps to resolve the concerns.»

Source: firstwordpharma.com


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