Sunder’s List

Ranbaxy Laboratories will stop manufacturing its version of Pfizer Inc’s cholesterol fighter, Lipitor, while it gets to the bottom of the cause of a recent recall. During its first six months on the market, atorvastatin generated sales of nearly $600 million for Ranbaxy (CT) [stockquote]RANBAXY[/stockquote]

 

 

Auto Makers in India Post Mixed November Sales (WSJ):

  • Maruti: +12% [stockquote]MARUTI[/stockquote]
  • Tata Motors: -15.5% [stockquote]TATAMOTORS[/stockquote]
  • M&M: +18% [stockquote]M&M[/stockquote]
  • Hyundai: –2.3%
  • Ford: +0.6%
  • Toyota: -26%

Roundup of economic news over the weekend:

  • India July-September GDP Grows 5.3% (5.5% previous); in-line with expectations. (WSJ)
  • U.S. consumer spending drops in October to a seasonally adjusted –0.2% (+0.8% previous) (MW)
  • US Small business owners are the most pessimistic since 2010. “Future Expectations” drops 19 points. (Yahoo)
  • Germany’s Retail Sales Hit 38-Month Low In October: -2.8% m/m.(ForexLive)
  • Greece 2013: sixth consecutive year in recession. (BBC)

Royal Bank of Scotland will no longer sell its Indian retail and commercial business to HSBC. The deal, which was first announced in 2010, fell through because all the commercial terms of the deal couldn’t be satisfied. (MW)

Good luck!

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