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Ranbaxy shells out £ 4.5 m to settle UK fraud case
 
Ranbaxy shells out £ 4.5 m to settle UK fraud case
Almost a dozen senior executives of 6 UK-based drug companies, including generic UK, part of Merck and Ranbaxy Laboratories UK unit are likely to face trial on alleged charges of conspiracy to defraud the National Health Services (NHS) of more than £100 m by rigging the prices for some of the most commonly used drugs.

However, Ranbaxy and NHS reached an out-of-court settlement in April 2005 under which the Delhi based Pharma major agreed to pay £ 4.5m.

It is said that the evidence supplied by 16 insiders, including materials from boardroom meetings, have been collected, which allegedly shows that how the companies agreed to fix the prices and divide the profits.
Posted On : 9/13/2005 3:20:06 PM

 
 
 
Ranbaxy shells out £ 4.5 m to settle UK fraud case