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)