Ranbaxy has disclosed that the US FDA has issued warning letter to one of its plants in the US (Gloversvillic, NY). This is one of the three plants in Ohm Labs which basically manufacture liquid products and other two plants did not have any material deviations. Ranbaxy has engaged a consultancy firm to address the issues.
Impact on Ranbaxy:
Management has indicated that this facility is relatively a small facility manufacturing liquid formulation. Sales from this facility account for 5-7% of US revenue and 1-2% of overall revenue. Sales would continue while approvals are likely to be on hold (not many filings pending).
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