Ranbaxy shares slump on $500 million fine to settle US drug safety charges

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MUMBAI (Reuters) – Ranbaxy Laboratories Ltd shares fell 3.4 percent in pre-open trading on Tuesday after the Indian generic drugmaker pleaded guilty to U.S. felony charges related to drug safety and will pay $500 million in civil and criminal fines. The settlement is its largest-ever with a generic drugmaker over drug safety, according to the U.S. government. Trading will open at 11.45pm EDT. (Reporting by Abhishek Vishnoi; Editing by Rafael Nam)

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