US withdraws motion against Ranbaxy

The US Department of Justice (DoJ) withdrew its motion in a local court against Ranbaxy after the Indian drug maker handed over the documents sought by the authorities. Ranbaxy said that the DoJ has been provided with a comprehensive set of audit documents based on instructions by the company, which will help resolve the questions raised by the U S government about the company's business practices and standards. Ranbaxy said that it remains confident that its pharmaceutical products are sale and effective and remains committed to cooperatively working with all regulatory and legislative authorities. Ranbaxy shares bucked the gloomy mood in the market, rising by 16% on the week.