Problems with US regulators mean that Ranbaxy, the Indian generic medicines manufacturer, is unlikely to meet its financial targets for the year, dealing a fresh blow to Daiichi Sankyo of Japan, which took a controlling stake last month.

Speaking after the company surprised the market with third quarter losses last Friday, Malvinder Singh, chief executive, told Indian media on Monday: ”Due to exceptional losses in the third quarter, which may also affect the fourth quarter, we may not meet the guidance for the whole year.”