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Home Industry News Ranbaxy in drug settlement

Ranbaxy in drug settlement

23rd December 2008

Ranbaxy and the Scottish government have reached a one million pound settlement.

The agreement follows accusations by the former of anti-competitive cartel conduct, in connection with drugs that were supplied to the NHS.

As a result, Ranbaxy has settled to pay more than 1.05 million pounds in compensation, on a full and final basis and without admission of liability.

Cabinet secretary for health and wellbeing Nicola Sturgeon said: “The settlement with Ranbaxy is very welcome.

“I am particularly pleased that they have agreed to provide co-operation in respect of our continuing civil claims.”

Head of service at NHSScotland Counter Fraud Services Neil Billing added: “I am glad that the CFS has contributed to this positive conclusion.”

The civil claims follow lawsuits lodged in February 2005 in English courts against a number of companies.

Ranbaxy has additionally already settled a similar claim with the Department of Health in England.

Last month, the company said it was to cease its role as Fortis Healthcare’s promoting firm.

The move follows Japanese drug company Daiichi Sankyo’s acquisition of a majority stake in Ranbaxy.

Established in 1961, the company’s global sales reached $1.61 billion (1.07 billion pounds) in 2007 – reflecting a growth of 21 per cent.

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