Ranbaxy's FDA woes could spell good news for Mylan

NEW YORK The warning letters and import advisory that the Food and Drug Administration issued to Ranbaxy Laboratories has already improved the fortunes of at least of the Gurgaon, India-based drug maker’s competitors.

Mylan’s stock rose in New York trading Thursday when an analyst said it could benefit from the FDA’s action, despite the recent troubles on Wall Street.

The FDA warning blocks the import of more than 30 drugs manufactured at Ranbaxy’s plants in Dewas and Paonta Sahib, India, but not drugs manufactured at other plants. The FDA has not found any specific problems with drugs manufactured at the two plants and has not issued warnings for any Ranbaxy drugs already in the United States, but cited manufacturing problems there.