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Ranbaxy makes $500 million provision related to US settlement

21 Dec 2011 Evaluate

Ranbaxy has agreed to a settlement with the US Food and Drug Administration (USFDA) and will make a $500 million provision in relation to a Department of Justice (DoJ) probe to resolve a dispute about plant violations.

Ranbaxy Laboratories Ltd. has signed a consent decree with the U.S. Food and Drug Administration (FDA). Ranbaxy has committed to further strengthen procedures and policies to ensure data integrity. It has also agreed to comply with current good manufacturing practices. The company says that the consent decree is subject to approval by the US District Court for the District of Maryland.

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