Views on Ranbaxy Lab settles with the New York Attorney General - Angel Broking

Views of Ms. Sarabjit Kour Nangra (VP - Research - Pharma, Angel Broking) on Ranbaxy Lab settles with the New York Attorney General:

"The New York Attorney General and the U.S. units of Ranbaxy Laboratories and Teva Pharmaceutical Industries have settled claims that an agreement between the two drugmakers unlawfully restricted competition. Under the terms of the settlement, the two generic drug makers will end a 2010 agreement of not challenging each other's rights to sell certain drugs exclusively in the United States. Teva and Ranbaxy will pay the New York state $300,000 and have agreed to refrain from similar agreements in the future. The settlement concludes an investigation into the agreement relating to atorvastatin calcium, the generic version of Pfizer Inc's Lipitor - a drug used to treat high cholesterol. The atorvastatin agreement related to the sale of only one drug, but by including "no-challenge" commitments as part of that agreement, the companies shielded dozens of their drugs from legal and regulatory challenges. The settlement is positive for the company and since the settlement amount will not significantly impact the company. We remain neutral on the stock."

Source : Equity Bulls

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