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Ranbaxy hires Giuliani to help it with FDA ban
18 Sep 2008 03:41:06 GMT
Source: Reuters
(Refiles to show in final paragraph that Ranbaxy shares trade on Mumbai exchange, not Bangalore)

NEW YORK, Sept 17 (Reuters) - Indian generic drugmaker Ranbaxy Laboratories Ltd <RANB.BO> has hired former New York City Mayor Rudolph Giuliani as an adviser, the company said on Wednesday, one day after regulators banned the U.S. sale of dozens of its drugs.

The U.S. Food and Drug Administration said on Tuesday that it would block more than 30 generic drugs from entering the United States because of ongoing procedural violations in manufacturing at Ranbaxy's Dewas and Paonta Sahib plants in India.

"Ranbaxy is committed to a swift resolution to address these issues and to continuing to supply the global marketplace with safe and effective pharmaceuticals," the company said in a a statement.

The agency has said it would not approve any further medications made at the two plants or lift its so-called "import alert" until the problems were fixed. It issued an earlier warning in 2006.

Ranbaxy, which has agreed to a takeover by Japan's Daiichi Sankyo Co Ltd <4568.T>, said it had retained the services of Giuliani and his consulting firm Giuliani Partners for advice and a review of compliance issues related to the agency's action. Giuliani had sought the Republican presidential nomination until dropping out in January.

Shares of Ranbaxy earlier fell 6.6 percent on on Wednesday on the Mumbai exchange. (Reporting by Sinead Carew in New York and Susan Heavey in Washington; Editing by Gary Hill)


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