MUMBAI: Shares in one of India’s biggest drugmakers, Ranbaxy Laboratories, dropped 17 percent after the US Food and Drug Administration suspended imports from a fourth manufacturing facility of the firm.
The FDA said it found significant violations from the expected “good manufacturing practice” requirements at Ranbaxy’s Toansa factory in the northern state of Punjab.
The New Delhi-based drug manufacturer’s stock tumbled to 346.20 rupees from its previous close of 417.15 on the Bombay Stock Exchange.
The Toansa plant makes so-called API — active pharmaceutical ingredients — for the company’s drugs which include treatments for ailments including heart and nervous system disorders.
Toansa now joins the firm’s Mohali plant and two other facilities which have been banned by the FDA, further locking out the company from one of its biggest markets.
Violations at Toansa included staff re-testing raw materials and drugs “after those items failed analytical testing and specifications in order to produce acceptable findings,” according to the regulator.
The plant now becomes part of the FDA “consent decree” which means it cannot supply drugs for the US until the regulator reinspects the facilities and is satisfied that corrective measures have been taken.
“Appropriate management action will be taken after completion of the internal investigation,” Ranbaxy said in statement posted on the BSE website.
Japanese drugmaker Daiichi bought Ranbaxy in 2008 believing its dominance in cheap generic medicines and developing markets would help the firm grow.
But the Indian company has been a weight on Daiichi’s books ever since due to its regulatory problems.
Shares have fallen over 24 percent in the last 12 months.
Daiichi paid 737 rupees per share in 2008, more than double their current level.
The US market traditionally makes up some 40 percent of Ranbaxy’s sales.
India’s Ranbaxy hit by new ban from US drug regulator
India’s Ranbaxy hit by new ban from US drug regulator
Jordan’s exports to Syria jump 341% in first 10 months
RIYADH: Jordan’s national exports to Syria rose to 203 million Jordanian dinars ($286 million) in the first 10 months of 2025, marking a 341.3 percent year-on-year increase, new figures show.
According to foreign trade data issued by the Department of Statistics, Jordan’s imports from Syria reached around 75 million dinars over the same period, up 47.1 percent annually, the Jordan News Agency, Petra, reported.
Total trade between the two countries stood at 278 million dinars in the first 10 months of the year, compared with 97 million dinars in the same period of 2024.
The growth reflects closer bilateral ties, as Jordan has reaffirmed its commitment to supporting Syria’s recovery and reintegration, a relationship seen as important for reconstruction efforts as well as regional stability and economic cooperation.
In May, the two sides also agreed to draft a comprehensive road map to guide future cooperation, with a focus on investment, joint ventures and reconstruction initiatives.
“Trade relations between Jordan and Syria recorded notable growth over the last ten months of this year, driven by the resumption of commercial activity and a marked increase in bilateral trade flows,” the Petra report stated.
It added: “Jordanian exports to Syria are primarily concentrated in construction-related industries and building materials, including cement, steel, marble, tiles, paints, and pipes, in addition to electrical equipment, as well as food, agricultural, and chemical products.”
Jordan and Syria are also expected to strengthen cooperation and exchange expertise in the banking and financial sectors, following meetings between the two countries’ central bank governors earlier this month.
Jordan’s export growth to Syria comes amid a broader rise in trade with Arab markets, as Jordanian exports to countries in the Greater Arab Free Trade Area continued to climb during the first 10 months of the year, keeping Arab states at the forefront of the country’s trading partners.
According to foreign trade data from the Department of Statistics, Jordanian exports to the region rose 8.7 percent year on year to 3.24 billion dinars, compared with 2.98 billion dinars in the same period last year. Arab countries accounted for about 41.5 percent of Jordan’s total exports during the period.
Imports from countries within the Greater Arab Free Trade Area also increased, rising 8 percent to 4.58 billion dinars in the first 10 months of the year, up from 4.25 billion dinars a year earlier.
As a result, Jordan’s trade deficit with the region widened to about 1.34 billion dinars during the period, compared with 1.26 billion dinars in the corresponding period last year, reflecting stronger import growth alongside rising exports.
