The announcement was made on Thursday, 26 January 2012.

Meanwhile, the BSE Sensex was up 126.54 points, or 0.74%, to 17,203.72.

On BSE, 1.22 lakh shares were traded in the counter as against an average daily volume of 1.37 lakh shares in the past one quarter.

The stock hit a high of Rs 456 and a low of Rs 442.20 so far during the day. The stock had hit a 52-week high of Rs 572.40 on 25 January 2011 and a 52-week low of Rs 366.50 on 19 December 2011.

The stock had outperformed the market over the past one month until 25 January 2012, rising 17.19% compared with the Sensex's 8.50% rise. The scrip had, however, underperformed the market in past one quarter, falling 6.81% as against 1.03% fall in the Sensex.

The large-cap drug maker has an equity capital of Rs 211.02 crore. Face value per share is Rs 5.

Ranbaxy Laboratories said it filed a consent decree with a US court as part of its settlement with the American authorities regarding a ban on certain manufacturing plants operated by the company in India.

The company announced that the consent decree with the US Food and Drug Administration (USFDA) that was signed on 20 December 2011, has been filed with the United States District Court for the District of Maryland. Under the terms of the consent decree, which is subject to approval by this court, Ranbaxy has committed to further strengthen procedures and policies to ensure data integrity and to comply with current good manufacturing practices, the statement said.

In 2008, the USFDA had banned 30 generic drugs produced by Ranbaxy at its Dewas (Madhya Pradesh) and Paonta Sahib and Batamandi unit in Himachal Pradesh, citing gross violation of approved manufacturing norms. In the same year, the US Department of Justice had moved a motion against the company in a local court alleging forgery of documents and fraudulent practice. A consent decree is a settlement of a lawsuit or criminal case in which a person or company agrees to take specific actions without admitting fault or guilt for the situation that led to the lawsuit.

According to reports, the decree is unprecedented in its scope, and requires the drug maker to take a range of actions to correct its violations and ensure they do not happen again.

Reports suggest that as part of the agreement, Ranbaxy has agreed to relinquish any 180-day marketing exclusivity that it might have for three pending generic drug applications and forfeit exclusivity for several additional generic drug applications if it does not comply with settlement terms.

On a consolidated basis, Ranbaxy Laboratories reported a net loss of Rs 464.58 crore in Q3 September 2011 compared with a net profit of Rs 307.94 crore in Q3 September 2010. Net sales rose 7.7% to Rs 2022.76 crore in Q3 September 2011 over Q3 September 2010.

Ranbaxy Laboratories is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies. Ranbaxy serves its customers in over 125 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 46 countries and manufacturing operations in 7 countries. Ranbaxy is a member of the Daiichi Sankyo Group. Through strategic in-licensing opportunities and its hybrid business model with Daiichi Sankyo, a leading global pharma innovator headquartered in Tokyo, Japan, Ranbaxy is introducing many innovator products in markets around the world, where it has a strong presence. This is in line with the company's commitment to increase penetration and improve access to medicines, across the globe.

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