Ranbaxy Laboratories recalls over 64,000 bottles Lipitor; stock slips over 3%

NEW DELHI: Shares in Ranbaxy Laboratories Ltd plunged as much as 3.2 per cent in trade on Monday after reports over the weekend suggested that the Pharma major said that it has recalled more than 64,000 bottles of the generic versions of its cholesterol-lowering drug in the United States due to reports of a dose mix-up, US regulators said.

At 09:25 a.m.; Ranbaxy was trading 3.1 per cent lower at Rs 358.45. It has hit a low of Rs 356 and a high of Rs 369 in trade today.

Ranbaxy recalled tablets of atorvastatin calcium, the generic name for Lipitor's active ingredient, after a pharmacist found a 20-milligram tablet in a sealed bottle marked for 10-milligram tablets, the US Food and Drug Administration (FDA) said on its website, Reuters said in a report.

The FDA declared a Class II recall, which signifies a remote chance of severe adverse consequences or death due to the product flaw.

Ranbaxy could not be reached for comment outside of India's business hours.

Hit by regulatory scrutiny, India's biggest drug maker by revenue had recalled 480,000 bottles of the cholesterol fighter in November 2012 after the company discovered contamination with tiny glass particles.