Top of the morning to you, and a fine one, especially so here at the temporary Pharmalot campus, where the substitute mascot has ceased yapping and we are left to focus on the tasks at hand. And there are many tasks — meetings, deadlines, phone calls, and things to read. Oh, my. This calls for a cup or three of stimulation and, as always, you are invited to join us. Meanwhile, here is the menu of tidbits to help you get started on your own day. We hope all goes well and do drop us a line if you run across anything interesting. We accept encrypted messages and dossiers …
An Indian court upheld a $550 million award granted to Daiichi Sankyo against the former owners of Ranbaxy Laboratories, who concealed information about fraudulent practices and ongoing investigations during talks that led to a $4.6 billion sale of the generic drug maker in 2008, The Economic Times reports. Daiichi took Malvinder Singh and Shivinder Singh to a tribunal in 2013 after pleading guilty to felony charges because Ranbaxy distributed adulterated medicines in the U.S. and falsified data. Daiichi paid a $500 million settlement with the U.S. Department of Justice.
Three large supermarket chains have filed a lawsuit accusing more than two dozen generic drug makers of colluding to set prices. Kroger (KR), Albertson’s, and H.E. Butt argue the price fixing was part of a “broad conspiracy” and cite ongoing government investigations into the generic drug industry to support their claims. Last year, two former Heritage Pharmaceuticals executives agreed to cooperate with authorities after being charged as part of a criminal probe into alleged antitrust activities.
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