The financial pain inflicted by a US import ban on some of the products of Ranbaxy Laboratories, India's largest drugsmaker, continues to hurt the company a year after it was first imposed.
In the US, sales fell 53 per cent to $44m during the quarter to the end of September in spite of efforts by Daiichi Sankyo, Ranbaxy's Japanese parent, to resolve the Indian company's difficulties with the US Food and Drug Administration.
Ranbaxy had put faith in the Japanese company's reputation for clinical excellence to help remove the ban and even resorted to hiring a consultancy firm, headed by Rudy Giuliani, the former mayor of New York, to help repair the image of the quality and safety of its drugs.
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