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

Ranbaxy Laboratories (RANBAXY.BO) Pays $500 Million to Settle Long-Running Production Scandal


5/14/2013 7:46:45 AM

Staying up-to-date has never been simpler. Sign up for the free GenePool newsletter today!

More than a year after entering into a consent decree over a far-reaching manufacturing scandal, Ranbaxy Laboratories has agreed to pay $500 million to settle criminal and civil charges associated with the episode. In announcing the settlement, the US Department of Justice calls this the “largest” financial penalty paid by a generic drugmaker for violating the Food, Drug & Cosmetic Act. Here are the terms: the Ranbaxy US unit pleaded guilty to three felony counts of violating the Food, Drug & Cosmetic Act and four felony counts of knowingly making material false statements to the FDA. A criminal fine of $130 million will be paid, along with a forfeiture of another $20 million. The drugs in question were made in two plants in Paonta Sahib and Dewas, India.

Help employers find you! Check out all the jobs and post your resume.

Read at PharmaLive
Read at News Release
Read at CTV.ca

comments powered by Disqus
   

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