Financial Daily from THE HINDU group of publications
Thursday, Apr 06, 2006
Financial Daily from THE HINDU group of publications Thursday, Apr 06, 2006 |
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Pharmaceuticals Corporate - Corporate Governance UK to charge 5 drug cos for price fixing Our Bureau
Negative impact According to analysts , "This could have a negative impact on the sentiment towards Ranbaxy. But if the investigation leads to financial compensation or cancellation of licences, then the damages could be higher."
New Delhi , April 5 Reacting to the UK SFO's announcement, Ranbaxy (UK) Ltd (RUKL) said that it "has not yet been informed of the substance of the allegations against it nor the evidence upon which they are based and is therefore not in a position to comment. "The company is not aware of any wrongdoing. RUKL is a responsible company committed to upholding the highest standards of corporate governance and best practices. "The current operations of RUKL remain unaffected by these developments." According to analysts tracking the sector, "This could have a negative impact on the sentiment towards the company. "But if the investigation leads to financial compensation or cancellation of licences, then the damages could be higher." The share price of Ranbaxy rose by 4.10 per cent on Wednesday to close at Rs 473.70 on the BSE.
More Stories on : Pharmaceuticals | Corporate Governance | Ranbaxy Laboratories Ltd | Economic Offences
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