360° Coverage : Ranbaxy to pay $420,000 in US for sub-standard drugs

1 Updates
Ranbaxy to pay $420,000 in US for sub-standard drugs
Photo Credit: FRED DUFOUR, Getty Images

Ranbaxy to pay $420,000 in US for sub-standard drugs

Jul 9 2013, 8:18am CDT | by

Washington, July 9 (IANS) Ranbaxy Laboratories, controlled by Japan's Daiichi Sankyo Group, will pay Idaho state in northwestern US nearly $420,000 to settle civil and criminal complaints of selling drugs of inferior strength, purity or quality in a case that dates back "several years".

Washington, July 9 — Ranbaxy Laboratories, controlled by Japan's Daiichi Sankyo Group, will pay Idaho state in northwestern US nearly $420,000 to settle civil and criminal complaints of selling...

Filed under: news

YouTube Videos

 
 
 

1 year ago

Ranbaxy to pay $420,000 in US for sub-standard drugs

Jul 9 2013, 8:18am CDT | by

Washington, July 9 (IANS) Ranbaxy Laboratories, controlled by Japan's Daiichi Sankyo Group, will pay Idaho state in northwestern US nearly $420,000 to settle civil and criminal complaints of selling drugs of inferior strength, purity or quality in a case that dates back "several years".

Washington, July 9 — Ranbaxy Laboratories, controlled by Japan's Daiichi Sankyo Group, will pay Idaho state in northwestern US nearly $420,000 to settle civil and criminal complaints of selling drugs of inferior strength, purity or quality in a case that dates back "several years".

Idaho had joined several states and the US government in alleging that Ranbaxy products manufactured between April 2003 and September 2010 did not meet US Food and Drug Administration standards and caused Medicaid to pay fraudulent claims.

Medicaid is a US health programme for families and individuals with low income and resources. The alleged 26 sub-standard generic drugs were made at Ranbaxy's factories in Paonta Sahib and Dewas in India.

The company agreed to a $500 million settlement with the federal and state governments. About $266.7 million of that will go to Medicaid programmes that are jointly funded by federal and state taxes.

"Taxpayers expect their tax dollars to be used to pay for a legitimate service," Idaho Attorney General Lawrence Wasden said in a press release. "This settlement reflects our resolve to address losses to the Idaho Medicaid programme caused by individuals and companies."

In an e-mail statement to IANS, Ranbaxy clarified that this was not a new issue. "This amount is part of the $500 million settlement with the US DOJ (Department of Justice), which Ranbaxy announced on May 13, 2013."

On the same day Ranbaxy had said that the investigations pertained to conduct which occurred several years ago, and that the present management had fully cooperated with the DOJ.

It also said that it had since strengthened its data integrity and manufacturing processes to comply with all regulatory requirements, alluding that its drugs made at the two facilities were safe.

Idaho's share of the settlement is $419,914. About half of that will go to Idaho Medicaid as restitution, and about half will go to Idaho's general fund.

The company also pleaded guilty to seven felony counts of violating the US Food, Drug and Cosmetic Act and agreed to pay $150 million in criminal fines and forfeitures.

IANS

Source: IANS

 

Don't miss ...

 

<a href="/latest_stories/all/all/8" rel="author">Luigi Lugmayr</a>
Luigi is the founding Chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at ml@i4u.com. Luigi posts regularly on LuigiMe.com about his experience running I4U.

 

blog comments powered by Disqus

Latest stories

India, Japan working as strategic partners: Modi
Tokyo, Sep 2 (IANS) India and Japan are now working as "special strategic and global" partners, Prime Minister Narendra Modi said Tuesday.
 
 
Choose low-carb diet for weight loss, better heart
New York, Sep 2 (IANS) A low-carbohydrate diet is more effective for weight loss and reducing cardio-vascular risk factors than a low-fat diet, according to a new study.
 
 
Cab sharing helps cut cost, curbs CO2 emission
New York, Sep 2 (IANS) Sharing a cab may help reduce total travel time by up to 40 percent, with corresponding reductions in operational costs and carbon dioxide emissions, says a new study.
 
 
Belly fat increases high BP risk
Washington, Sep 2 (IANS) People with fat around their abdominal area are at greater risk of developing hypertension (high blood pressure) when compared to those with similar body mass index (BMI) but fat concentrations elsewhere on the body, says a study.
 
 
 

Latest from the Network

India elect to field against England in 4th ODI
Birmingham, Sep 2 (IANS) India captain Mahendra Singh Dhoni won the toss and elected to bowl against England in the fourth One-Day International (ODI) of the five-match series being played at Edgbaston here Tuesday....
Read more on Sport Balla
 
India, Japan working as strategic partners: Modi
Tokyo, Sep 2 (IANS) India and Japan are now working as "special strategic and global" partners, Prime Minister Narendra Modi said Tuesday. "We are now working as special strategic and global partners," Modi told...
Read more on Politics Balla
 
Choose low-carb diet for weight loss, better heart
New York, Sep 2 (IANS) A low-carbohydrate diet is more effective for weight loss and reducing cardio-vascular risk factors than a low-fat diet, according to a new study. To compare the effects, researchers randomly...
Read more on Celebrity Balla
 
Cab sharing helps cut cost, curbs CO2 emission
New York, Sep 2 (IANS) Sharing a cab may help reduce total travel time by up to 40 percent, with corresponding reductions in operational costs and carbon dioxide emissions, says a new study. If passengers had been...
Read more on Apple Balla
 
Belly fat increases high BP risk
Washington, Sep 2 (IANS) People with fat around their abdominal area are at greater risk of developing hypertension (high blood pressure) when compared to those with similar body mass index (BMI) but fat concentrations...
Read more on Celebrity Balla
 
Fung targets home success at PGM Sabah Championship
Sabah (Malaysia), Sep 2 (IANS) Reigning Asian Development Tour (ADT) Order of Merit champion Nicholas Fung hopes to recover from a fever in time to contend for the Professional Golf of Malaysia (PGM) Sabah Championship...
Read more on Sport Balla
 
Watching action movies makes your waistline grow
New York, Sep 2 (IANS) If your kids love to watch Hollywood action movies, better watch out for their junk food consumption. According to a study, viewers who watch action-packed programmes indulge in over-eating. "We...
Read more on Celebrity Balla
 
Pitch Perfect cast feel 'under pressure' with sequel
Ben Platt says the cast of 'Pitch Perfect' are feeling the pressure ahead of the sequel. The actor, who has starred in the popular Broadway production 'The Book of Mormon', acknowledges that the eagerly-awaited sequel...
Read more on Movie Balla
 
Imagine Entertainment in talks for 24 movie
Imagine Entertainment want to make a '24' movie. According to TVLine, the production company's chairman, Brian Grazer, has expressed an interest in taking the hit Fox series to the big screen following the end of the...
Read more on Movie Balla
 
Stan Lee reveals Black Panther movie is in the works
Stan Lee has suggested plans to make a Black Panther movie are still in development. Lee, the former president and chairman of Marvel Comics, says that Marvel Studios will look to make a film based on the first black...
Read more on Movie Balla