Ranbaxy turns positive after court dismisses suit

MUMBAI (Reuters) - Shares in Ranbaxy Laboratories Ltd , India's No.1 drugmaker by sales, turned positive after earlier falling as much as 7.4 percent after the Supreme Court of India dismissed a public interest lawsuit against the company.

The court said the petitioner had failed to provide material in support of his petition, said Manohar Lal Sharma, the lawyer who had filed the lawsuit alleging the company had manufactured substandard quality medicine. (Reporting by Suchitra Mohanty and Abhishek Vishnoi; editing by Tony Munroe)