India's Ranbaxy hits rough weather?
First, it was the setback in its patent
challenge litigation against world's biggest pharmaceutical
company Pfizer for the cholesterol lowering medicine
Lipitor (chemical name atorvastatin) in the UK. Then
came another blow. Ranbaxy Laboratories Ltd (BSE:500359),
India's biggest drugmaker reported a loss after tax
of Rs.10.77 crore for the quarter ended September 2005
as against a net profit of Rs.141.3 crore in the corresponding
period last year. Aiming to grab a share from the pie
of the world's best-selling drug for four straight years,
Lipitor--which helped the American pharmaceutical giant
pocket a global sales of almost $11 billion in 2004--Ranbaxy
had challenged the patent in UK.
November 02, 2005