Mumbai: Shares of drug maker Ranbaxy Laboratories Ltd plunged as much as 9.3% in trade on BSE on Thursday. The company’s Japanese parent Daiichi Sankyo Co. Ltd had on Tuesday said it is exploring legal action against the former promoters to recover the $500 million fine that it had to pay the US Food and Drug Administration to settle the civil and criminal charges against the company last week.

Daiichi Sankyo had in a statement on Tuesday said for the first time after its acquisition of the Indian company in 2008 that the former shareholders concealed critical information about criminal investigation initiated by the US department of justice and the drug regulator against Ranbaxy from it at the time of the deal.

Daiichi had also said that it had spent about $300 million to upgrade the company’s compliance level and also to rectify the company from the wrong conduct of the past management.

Shares of Ranbaxy Laboratories fell 8.80% to 393.15 apiece on BSE, while the exchange’s benchmark Sensex shed 1.93% to end at 19,674.33 points.

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