Daiichi may initiate legal action against former Ranbaxy shareholders

Daiichi Sankyo Co. Ltd, the Japanese parent of Ranbaxy Laboratories Ltd, said on Wednesday that it may initiate legal action against certain former shareholders of the Indian generic drug maker for concealing and misrepresenting critical information related to investigations by US agencies, a Mint report said.

“Daiichi Sankyo believes that certain former shareholders of Ranbaxy concealed and misrepresented critical information concerning the US DoJ (department of justice) and FDA (Food and Drug Administration) investigations. Daiichi Sankyo is currently pursuing its available legal remedies,” the company said.

The Japanese drug maker added that it was making significant changes to Ranbaxy’s management, culture, operations and compliance to correct its past conduct. Daiichi didn’t identify any of the former shareholders that it was thinking of taking action against.

Read the full report here