Ranbaxy announces improved standards
May 23, 2013
RANBAXY Laboratories Ltd, which
is now a subsidiary of Japanese
pharmaceutical manufacturer
Daiichi Sankyo Company Ltd, has
announced “improved business
standards and quality assurance
initiatives” as it addresses “past
conduct under prior management”.
The move follows a settlement
by the company last week, when
it agreed to pay US$500 million
in penalties for manufacturing
deficiencies and falsification
of data and test results in drug
applications.
Daiichi said it wants to correct
the conduct of the past, which
led to investigations by the US
Department of Justice and the US
Food and Drug Administration.
“These efforts include significant
changes to Ranbaxy’s management,
culture, operations and
compliance,” the company said.
“Daiichi Sankyo believes that
certain former shareholders
of Ranbaxy concealed and
misrepresented critical information
concerning the US DoJ and FDA
investigations,” it added, with
Daiichi currently pursuing its
available legal remedies.
Ranbaxy ceo and md, Arun
Sawhney, said “Ranbaxy is a
different company today.
“All Ranbaxy products currently
in the global market are safe
and effective...Ranbaxy has
successfully launched several
new generic equivalents across
the world recently, and remains a
robust pipeline of important new
products,” Sawhney said.
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