US FDA ban and forex losses dent Ranbaxy's growth prospects in 2008
This article was originally published in Scrip
Hit by unprecedented foreign exchange losses and the US FDA import ban on its products, Ranbaxy Laboratoriesmay not meet its growth targets for 2008. The company reported a loss of Rs3.95 billion ($79.7 million) and consolidated sales of Rs18.88 billion (+14.3%) for the quarter ended September 30th.
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