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Wednesday, April 7, 2010 as of 11:14 AM ET

Ranbaxy Laboratories

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Ranbaxy Laboratories Limited () is an Indian pharmaceutical company that was incorporated in India in 1961. The company went public in 1973 and Japanese pharmaceutical company Daiichi Sankyo gained majority control in 2008. Ranbaxy exports its products to 125 countries with ground operations in 46 and manufacturing facilities in seven countries.

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Dr Reddy's Jan-March Net Grows 2.7%; Misses View On One-Time Charge

Dr.

Reddy's Laboratories Ltd. (500124.BY) Friday disappointed investors with a slim 2.7% rise in its fourth-quarter net profit, but this was due mainly to a one-time charge.The company said it had to take a INR1.04 billion non-cash impairment charge for intangible assets related to its German operations.Investors, who were expecting a strong bottomline, did a run on the stock. The shares initially fell 3.2% to INR1,645--their lowest level in a month -- before closing down 2.2% in a Bombay Stock Exchange 0.8% lower.This after the company said its consolidated net profit grew 2.7% to INR3.43 billion, missing a INR4.76 billion forecast in a Dow Jones Newswires poll of 18 analysts.Consolidated sales climbed 32% to INR26.58 billion, in line with the INR26.22 billion predicted in the poll.The Mumbai- and New York-listed company's results were expected to reflect the strong trend in the quarterly performances of peers such as Ranbaxy Laboratories Ltd. and Cipla Ltd., whose profits were booste...

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