Endgame For Singh Bros As India’s Top Court Upholds $550m Daiichi Arbitration Panel Award
Tycoons Malvinder and Shivinder Singh have exhausted Indian legal avenues in their fight against enforcement of a Singapore arbitration panel order to pay $550m to Japanese firm Daiichi Sankyo and now must decide whether to take their battle to a Singapore court.
You may also be interested in...
Daiichi Sankyo has secured another favorable ruling in Singapore in a case pertaining to the enforcement of the INR35bn arbitration award against the sparring Singh brothers of Ranbaxy, piling more pressure on the duo. An appeal remains an option.
Daiichi Sankyo has demanded that an Indian court block a mega-deal to sell Indian hospital chain Fortis to a local healthcare provider until the hospital chain’s founders, Malvinder Singh and Shivinder Singh, pay a $550m international arbitration award to the Japanese drugmaker.
Attempts to maximize the current commercial portfolio and prepare for upcoming pipeline launches spell more job losses at the US arm of major Japanese pharma Daiichi Sankyo.