Date:06/04/2006 URL: http://www.thehindubusinessline.com/2006/04/06/stories/2006040604790100.htm

Back UK to charge 5 drug cos for price fixing

Our Bureau

Ranbaxy UK denies any wrongdoing

Negative impact
According to analysts , "This could have a negative impact on the sentiment towards Ranbaxy. But if the investigation leads to financial compensation or cancellation of licences, then the damages could be higher."

New Delhi , April 5

Reacting to the UK SFO's announcement, Ranbaxy (UK) Ltd (RUKL) said that it "has not yet been informed of the substance of the allegations against it nor the evidence upon which they are based and is therefore not in a position to comment.

"The company is not aware of any wrongdoing. RUKL is a responsible company committed to upholding the highest standards of corporate governance and best practices.

"The current operations of RUKL remain unaffected by these developments."

According to analysts tracking the sector, "This could have a negative impact on the sentiment towards the company.

"But if the investigation leads to financial compensation or cancellation of licences, then the damages could be higher."

The share price of Ranbaxy rose by 4.10 per cent on Wednesday to close at Rs 473.70 on the BSE.