News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Ranbaxy Laboratories (RANBAXY.BO), FDA in Settlement Talks Over $1 Billion Fine


5/5/2011 6:55:14 AM

Ranbaxy Laboratories and the US health regulator are reportedly negotiating a settlement to lift a ban on the sale of the drugs produced at two of the company's plants in India, which could involve payments and fines exceeding $1 billion.

A magazine report, quoting unnamed sources, said the US Food and Drug Administration (USFDA) and the Gurgaon-based company are negotiating to settle the issue that has been dragging on since 2008.

"... Federal prosecutors have been negotiating a criminal and civil settlement with the company (Ranbaxy) that could lead to fines and payments exceeding $1 billion," the Fortune report said, stating it "has learned from sources with knowledge of the negotiations".


Read at EconomicTimes
Read at AFP
Read at Money Control


comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES