MNC trying to derail Daiichi deal, says Ranbaxy

MNC trying to derail Daiichi deal, says Ranbaxy
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First Published: Fri, Jul 18 2008. 01 30 PM IST
Updated: Fri, Jul 18 2008. 01 30 PM IST
PTI
New Delhi: Hit hard by the attack in the US, Ranbaxy Laboratories has alleged that a multinational player was trying to derail its deal with Japanese drug major Daiichi Sankyo and said the talks of a probe into approvals for its drugs by American authorities was part of a “larger game.”
“The US Congressional Committee’s move to probe approvals by the US FDA of the company’s drug is a part of the larger game by an MNC — trying to scuttle its deal with Daiichi Sankyo,” Ranbaxy CEO Malvider Mohan Singh said.
“All these issues have emerged after the deal with Daiichi Sankyo... This is a much larger issue. It is not only about Ranbaxy, but about high quality affordable generic drugs versus expensive innovative products,” he said adding an MNC is trying to derail Ranbaxy’s deal with Daiichi Sankyo.
Recently, the Department of Justice has filed a motion in the US court against Ranbaxy alleging systematic fraudulent conduct and supplying fabricated information to the US FDA.
Meanwhile, reports have emerged that the US Congressional Committee will probe the role of US FDA in approving Ranbaxy’s products in that country.
Singh, however, continued to deny all these allegations and said we are cooperating with the agencies and will continue to supply high quality affordable generic drugs in the US market.
He said post its deal with Daiichi Sankyo, Ranbaxy was on boils for greater growth, which some of the rivals did not like to happen.
“It (deal with Daiichi Sankyo )is a landscape changer. We will have affordable high quality generic as well as innovative drug,” he said.
Singh, however, said the development in the US would not necessarily affect its business there.
“I do not see its impact on the business. We will continue to supply our products there. Obviously there are people who are trying to affect us,”
On the open offer by Daiichi Sankyo, he said everything is on track and regulatory approvals are awaited.
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First Published: Fri, Jul 18 2008. 01 30 PM IST