Golden Week For Daiichi: Damages Due From Ranbaxy Brothers

In what seems like some consolation for Daiichi Sankyo after its disastrous acquisition of Ranbaxy Laboratories and subsequent divestment of the Indian company, arbitration proceedings in Singapore against the Singh brothers of Ranbaxy have gone the Japanese firm's way.

An arbitration tribunal in Singapore is now said to have asked the Singh brothers, Malvinder and Shivinder, and certain group firms to cough up damages of around INR25.62bn ($385m) in a case involving damages over Daiichi Sankyo Co. Ltd.‘s past acquisition of Ranbaxy Laboratories Ltd.

Daiichi Sankyo initiated arbitration proceedings in Singapore against the former shareholders of Ranbaxy, over alleged misrepresentation of critical information concerning the US Department of Justice (DoJ) and FDA

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