Click to play videoNew Delhi: After days of speculation and ambiguity, India's largest drug maker Ranbaxy has clarified that its deal with Japan's Daiichi Sankyo is on. Ranbaxy says Daiichi Sankyo was aware of the US FDA issue before the deal was signed.
According to Malvinder Singh, the US FDA is only seeking a clarification from his company as of now and he says all information will be provided as and when required.
Ranbaxy is also confident that it will face no further action once Information is provided. The drug maker said that no allegations were filed against the Company and it was only conducting a dialogue with US authorities.
Ranbaxy's stock has been hammered on news that the US FDA had alleged the company sold adulterated drugs in the american market. but malvinder alleged that there had been a concerted effort in the market to bring Ranbaxy's stock price down.
“Data is being collected and the information will be provided to SEBI. There seems to be a concerted effort to bring down the share price,” he said.
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