Forex losses and US import ban hit Ranbaxy in fourth quarter
This article was originally published in Scrip
Executive Summary
Ranbaxy Laboratorieshas reported a loss of Rs6.79 billion ($142 million) for the fourth quarter ended December 31st, dented by foreign exchange losses, adoption of an accounting standard aimed at improved transparency and the ongoing US import alert on its products for alleged good manufacturing practice (GMP) violations.