Ranbaxy pleads guilty in US, to pay $500 mn in settlement

May 14, 2013 00:39

Pleading guilty to "felony charges" relating to manufacture and distribution of certain adulterated drugs made at two India units, the US subsidiary of Ranbaxy today agreed to pay $500 million -- the largest settlement by a generic medicine maker till date.

The US Justice Department said in a statement: "In the largest drug safety settlement to date with a generic drug manufacturer, Ranbaxy USA, a subsidiary of Indian generic pharmaceutical manufacturer Ranbaxy Laboratories, pleaded guilty today to felony charges relating to manufacture and distribution of certain adulterated drugs made at two of Ranbaxy's manufacturing facilities in India."

"Ranbaxy also agreed to pay a criminal fine and forfeiture totalling USD 150 million and to settle civil claims under the False Claims Act and related State laws for USD 350 million."

Ranbaxy USA pleaded guilty to three felony counts under Federal Food Durg and Cosmetics Act (FDCA), and four felony counts of knowingly making materially false statements to the Food and Drug Administration (FDA).

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