5/16/2013 7:48:26 AM
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Earlier this week, the feds finally reached closure with Ranbaxy Laboratories with a $500 million deal to settle criminal and civil charges for a serious and widespread manufacturing ruse. The generic drugmaker was charged with using raw chemicals from unapproved sources, fabricating in-house test data to meet FDA standards and concealing these activities from FDA inspectors by falsifying records. In short, there was a systemic cover-up that Ranbaxy perpetuated for nearly a decade in order to boost profits and maintain its edge as a leading purveyor of low-cost generics to the world. Scientists were ordered to manipulate reports; other employees were forced to illegally carry supplies of brand-name drugs to India and duplicitous statements were issued by high-ranking executives. All the while, ceo Malvinder Singh (pictured), a grandson of the founder, screamed for more profits.
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