HSBC ups Ranbaxy to 'overweight' on generic Lipitor announcement - NDTV

The content may have been removed, or is temporarily unavailable. We apologize for the inconvenience. Please try again later. Mumbai: HSBC raised its rating on shares of Ranbaxy Laboratories Ltd to 'overweight' from 'underweight' after the Indian drug-maker said it would resume production of a generic version of cholesterol fighter Lipitor for sale in the United States. HSBC added other factors behind its upgrade were share valuations after a recent correction, as well as the near-term catalysts such as the launch of additional generic drugs and the probability of a recovery in US sales. Ranbaxy shares were up 3.3 per cent as of 9:34 a.m. Copyright @ Thomson Reuters 2013 via Business - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNGLpx3CtB5mi2qEP7M5Z2oLXlWY-w&url=http://profit.ndtv.com/news/market/article-hsbc-ups-ranbaxy-to-overweight-on-generic-lipitor-announcement-318458

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