Exhibiting one of its worst quarterly performances ever, Ranbaxy Laboratories – now owned by Japanese firm Daiichi Sankyo - has posted its third straight quarter of losses, for the quarter ended March 31, 2009.

Citing foreign exchange instability, a 14 percent drop in its US market, and pricing strain in key markets, Ranbaxy posted a net loss of Rs 761 crore during the quarter – a dramatic turnaround from the Rs 153 crore net profit figures in 2008. In the previous two quarters, Ranbaxy posted losses of Rs 680 crore and Rs 394 crore.

The country's largest pharmaceutical company, Ranbaxy Laboratories Ltd has managed to get Good Manufacturing Practice (GMP) certificates from the concerned departments in the UK and Australia for its Paonta Sahib plant.

The authorities from both countries investigated the utility as per respective principles and guidelines of GMP in 2006 and finally gave nod to drug manufacturing after re-examining the plant in 2008.

The US Food and Drug Administration (USFDA) has approved the marketing of Ranbaxy Laboratories' migraine drug, Imitrex (Sumatriptan), a low cost version of migraine drug GlaxoSmithKine, in the US market.

A spokesman of Rabnbaxy said, "We have received the US Food and Drug Administration's (USFDA) approval for 100 mg Sumatriptan."

The regulator provides 180-day marketing exclusivity for its marketing in 100 mg dosage which was earlier rejected by it on December 2008.

Ranbaxy Laboratories CEO Malvinder Singh said that due to an import ban by the US authorities, his firm may shift some generic drug production from India to the US.

"We will transfer (production of) some products from India to America. Also, we are looking at making some acquisitions of manufacturing assets," said Mr Singh, at a media reception held by Japanese drugmaker Daiichi Sankyo.

India’s Pharmaceutical major, Ranbaxy Laboratories Ltd has received tentative approval from

India’s biggest pharma company, Ranbaxy Laboratories Ltd has announced that it has rec