April 21, 2006
The media had reports that Ranbaxy Laboratories Ltd is likely to hive off its research and development (R&D) division into a separate company.
The Exchange, in order to verify the accuracy or otherwise of the information reported in the media and to inform the market place so that the interest of the investors is safeguarded, had written to the officials of the company.
Ranbaxy Laboratories Ltd has vide its letter inter-alia stated, "The aforesaid news item does not reflect the true simulation. Our R&D is a core inhouse activity of the company. In the case of special projects, as is already the practice, we may explore entering into cost-benefit sharing activities with other entities."
Source: National Stock Exchange of India Limited
Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.