Indian Pharmaceutical major, Ranbaxy Laboratories has informed the Bombay Stock Exchange (BSE) that it is withdrawing some of its approved abbreviated new drug approvals (ANDAs) from the US market.

The company informed the stock exchange that some products with negligible commercial impact are being withdrawn from the US market in order to focus resources on other applications that much more valuable and important to the country's health system.

Some of the ANDAs are not linked to current business and is unlikely to have any significant impact on the company's business in the US market. The company is withdrawn 27 drugs from the US market mainly due to commercial reasons. The company has requested withdrawal of the products under the consent decree from the US authorities, according to information available with the US Government Printing Office (GPO).

"The company has determined that certain products with negligible commercial impact should be withdrawn to enable the organisation to focus resources on other applications that are of greater importance and value to the US business and healthcare system," Ranbaxy said in a filing to the BSE.

The shares of the company rose to its highest level in 52-weeks to Rs 552.70. The shares touched a high of Rs 552.70 and an intraday low of Rs 535.20. The shares were trading 3.18 per cent higher at Rs 551.50 this morning at the time of reporting.