The US arm of Ranbaxy pleaded guilty to seven felonies relating to the manufacture and distribution of certain adulterated drugs
The promoters' stake was sold for $2.4 billion. Daiichi, who filed arbitration case in Singapore in 2013, seeks to be compensated for losses it incurred when Ranbaxy was forced to reach a $500-million settlement with the US Department of Justice on charges that the company fudged test results to get approval from the Food and Drug Administration for its medicines.
The US arm of Ranbaxy pleaded guilty to seven felonies relating to the manufacture and distribution of certain adulterated drugs made at units in India and agreed to pay the fine to settle criminal and legal suits.
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