You are here:HomeCorporates

Ranbaxy whistleblower Thakur to get Rs 266 crore

close

Dinesh Thakur, former Ranbaxy director and global head of research information & portfolio management, is entitled to $48.6 million (Rs 266 crore with respect to $1=Rs 54.80) as the whistleblower in the case, the U.S. Justice Department said. It was Thakur who uncovered the unsafe practices and violations at Ranbaxy. (Read the full story here)

"Ranbaxy's management was notified of these widespread problems. When they failed to correct the problems, it left me with no choice but to alert healthcare authorities," Thakur said in a statement.

"It took us eight years to help government authorities unravel a complicated trail of falsified records and dangerous manufacturing practices that threatened to compromise the quality and safety of Ranbaxy drugs," he added.

Ranbaxy Laboratories pleaded guilty on Monday to felony charges related to drug safety and will pay $500 million (Rs 2,740 rore) in civil and criminal fines under the settlement agreement with the U.S. Department of Justice.

The settlement is its largest-ever with a generic drugmaker over drug safety, according to the U.S. government. It includes $150 million in payments for a criminal fine and forfeiture and $350 million in payments for civil claims.

Ranbaxy USA pleaded guilty to three felony counts related to the manufacture of drugs at two Indian locations that did not meet safety standards and to four counts of making material false statements.

(With inputs from Reuters)

Story first published on: May 14, 2013 09:43 (IST)

Tags: Ranbaxy Lab, Dinesh Thakur, Ranbaxy USA

MORE FROM NDTV

FROM THE WEB

MORE FROM THE WEB
MORE FROM NDTV

For Profit Update,
Follow NDTV on Pinterest

Post your comments:

Social Sharing

Advertisement

Advertisement

 

More From NDTV

More From the WEB

Advertisement

Market Data provided by © Accord Fintech.
© Copyright NDTV Convergence Limited 2014. All rights reserved.