India Ranbaxy says UK prosecution ended by court

NEW DELHI, July 22 (Reuters) - Ranbaxy Laboratories Ltd (RANB.BO), India's top drug maker by sales, said on Tuesday a U.K. court had quashed the country's Serious Fraud Office's (SFO) prosecution of the firm's subsidiary.

Ranbaxy said in a statement the English Crown Court had also declined an application by the SFO for permission to appeal to the English Court of Appeal. However, the SFO retained a right to appeal to the court directly, the Indian firm said.

In 2006, Ranbaxy said the the Serious Fraud Office had accused Ranbaxy (UK) Ltd of anti-competitive conduct in connection with the supply of penicillin-based antibiotics.

Shares in Ranbaxy were up 3.7 percent at 475.30 rupees at 0649 GMT in a Mumbai market that was up 2.5 percent. (Reporting by Devidutta Tripathy; Editing by John Mair)