More Pain for Ranbaxy, Daiichi Sankyo

Shares of Indian drugmaker Ranbaxy and its parent, Japan's Daiichi Sankyo, fell sharply after more FDA charges of Ranbaxy wrongdoing

Japanese pharmaceutical company Daiichi Sankyo (4568.T) is finding out the hard way that global ambitions can come at a price. Last June the midsize company seemed to have pulled off a coup when it beat out bigger rivals for a $4.6 billion controlling stake in India's biggest generic drug maker, Ranbaxy Laboratories (RANB.BO). But within a month, the U.S. Food & Drug Administration had announced plans to ban more than 30 generic drugs—including antibiotics and AIDS medications—that were made at two Ranbaxy plants in India.

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