Singh Bros Agree Religare Sale As Daiichi Settlement Case Roils
Religare Enterprises, led by Indian tycoons Malvinder and Shivinder Singh who are locked in a bitter arbitration battle with Daiichi Sankyo, has sold off its health insurance unit as it seeks to pare debt and focus on core financial services, in a move the brothers’ lawyers say is designed to raise capital.
You may also be interested in...
In what seems like some consolation for Daiichi Sankyo after its disastrous acquisition of Ranbaxy Laboratories and subsequent divestment of the Indian company, arbitration proceedings in Singapore against the Singh brothers of Ranbaxy have gone the Japanese firm's way.
The US Supreme Court has lifted a stay on document discovery in a multi-state lawsuit in which dozens of generics companies – including Teva, Mylan and Pfizer – are accused of price fixing. The ruling will allow a swathe of documents to be released in what Connecticut’s attorney general has said is potentially “the largest cartel case” in US history.
Daraprim, which saw its price jacked up by 4,000% by former drug company executive Martin Shkreli, now has a competitor with the US Food and Drug Administration’s approval of the first generic version of the nearly seven-decade-old drug used to treat a life-threatening parasitic infection known as toxoplasmosis.