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India’s Ranbaxy Discloses Interest In Shimal Research

This article was originally published in PharmAsia News

Executive Summary

Ranbaxy Laboratories disclosed in an annual report it had acquired a large part of Shimal Research Laboratories, a clinical-trial company, as long ago as February. Ranbaxy's annual report said the firm bought Oscar Investment's Shimal, which in turn owns Fortis Clinical Research. A Ranbaxy spokesperson would not respond to reports of the acquisition. An industry analyst suggested Ranbaxy should have made the disclosure in a more-timely manner. (Click here for more
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