Pharmaceutical major Ranbaxy Labortaories on Wednesday said it remained confident that its products were safe and effective as the US Department of Justice (DoJ) withdrew a legal motion against it that charged fraudlent practice.
"Ranbaxy remains confident that its pharmaceutical products are safe and effective and remains committed to cooperatively working with all regulatory and legislative authorities," a company spokesperson said reacting to the news of the US DoJ withdrawing its motion filed at the District Court of Maryland.
The US DoJ has now been provided with a comprehensive set of audit documents based on instructions by Ranbaxy Laboratories Limited, which will help resolve the questions raised by the US government about the company's business practices and standards, the spokesperson added.
Earlier in July, the US DoJ had moved the district court seeking to access data and documents claiming that Ranbaxy and its legal consultancy firm Parexel were not disclosing them and accused the company of submitting false and fabricated information to the USFDA.
In a submission earlier this month, the US DoJ said it would withdraw its motion against Ranbaxy, upon confirmation that the production of documents by the Indian drug firm and Parexel was complete.
Ranbaxy shares closed at Rs 279.25, up 9.08 per cent on the Bombay Stock Exchange.
