Ranbaxy shares rise on resumption of production of generic Lipitor for US market

The shares of Ranbaxy rose on Monday after it informed the stock exchanges that it has resumed production of generic Lipitor for the US market.

At 11 am, Ranbaxy shares were up 3.7 per cent on the BSE at 428.50. On Monday, the broader markets were trading flat with a positive bias.

In a statement, the drugmaker informed the stock exchanges said, "We are working with the U.S. FDA, and have identified and implemented multiple corrective and preventative actions (CAPA). As part of the first step in initiating the manufacturing process to resume supplies to the U.S. market, we have commenced the production of the drug substance for our Atorvastatin product."

In November 2012, Ranbaxy Pharmaceuticals Inc, the U.S. subsidiary of Ranbaxy Laboratories Limited, had initiated a voluntary recall for select batches and strengths of Atorvastatin calcium tablets only in the US.

Atorvastatin calcium tablets or any other product containing this molecule distributed outside the US was not affected by this recall.