Ranbaxy Laboratories Ltd., an Indian subsidiary of Japan's Daiichi
Sankyo Co., has agreed to pay $500 million to the U.S. Justice
Department to settle felony charges related to drug safety, local media
reported Tuesday.
In the largest-ever drug safety settlement case involving a generic drugmaker in the United States, Ranbaxy admitted falsifying data from its drug facilities and knowingly making false statements to the U.S. Food and Drug Administration.
Ranbaxy also pleaded guilty to manufacturing adulterated drugs at two plants in India.
Daiichi Sankyo earmarked $500 million in reserves in relation to the case in its business year through March 2012.
In the largest-ever drug safety settlement case involving a generic drugmaker in the United States, Ranbaxy admitted falsifying data from its drug facilities and knowingly making false statements to the U.S. Food and Drug Administration.
Ranbaxy also pleaded guilty to manufacturing adulterated drugs at two plants in India.
Daiichi Sankyo earmarked $500 million in reserves in relation to the case in its business year through March 2012.
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