Daiichi Sankyo case: Setback for Singh brothers in Singapore court

By license, Regulation, litigation

Malvinder Singh and Shivinder Singh

Daiichi Sankyo case: Setback for Singh brothers in Singapore court

Singapore’s High Court has rejected an appeal from Shivinder and Malvinder Singh and upheld an earlier order that they must pay $526 million to Daiichi Sankyo, according to people familiar with the matter.

The verdict is the latest court victory for the Japanese drugmaker as it seeks to enforce a finding by a Singapore tribunal that the Singhs concealed information during the sale of their Ranbaxy Laboratories a decade ago.

Ranbaxy plead guilty to the distribution of adulterated drugs and had to pay the US Department of Justice a $500 million penalty in 2013 after Daiichi bought it from the Singhs.

Business Standard News

https://wap.business-standard.com/article/companies/daiichi-sankyo-case-setback-for-singh-brothers-in-singapore-court-118122101306_1.html

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