America’s $93 billion pipeline of generic pharmaceuticals often starts in places like Toansa, a village in northern India where a drug-making facility rises up beside mustard fields and manure-flecked ox-cart tracks.
U.S. regulators are mobilizing to shore up confidence in America’s generic-drug supply as alarm grows over the quality of products made in India, and the head of the largest U.S.-based maker of the medicines predicted more trouble lies ahead.
Ranbaxy Pharmaceuticals Inc. and Teva Pharmaceuticals Inc.’s U.S. unit agreed to settle New York state claims that they colluded on generic-drug sales, including copies of the world’s best-selling medicine Lipitor.
The head of the U.S. Food and Drug Administration said she will visit India to talk with generic- drug makers and regulators about quality concerns and plans to expand overseas inspections to address the country’s growing role in producing medicines sold in the U.S.
Japanese stocks fell, with the Topix index capping its biggest decline since August, after the yen climbed to a seven-week high and U.S. equities tumbled on concern that the global economy’s recovery will falter.
Ranbaxy Laboratories Ltd., the drugmaker controlled by Japan’s Daiichi Sankyo Co., can’t make or distribute drug ingredients from a fourth plant in India for the U.S. market, regulators ordered. The stock plunged.