When Daiichi Sankyo purchased a controlling stake of 63.9 percent in Ranbaxy Labs as it exports drugs to almost 125 countries while owning multiple facilities in different locations, little did it know that it was in for a rude surprise.
In a recent press release, the Japanese pharmaceutical company claims that previous shareholders of Ranbaxy concealed investigations carried out by the Department of Justice and U.S Food and Drug Administration.
This information comes right after the US government fined Daiichi Sankyo $500 million for importing adulterated drugs into the United States. The drugs which were identified to have issues were Sotret (isotretinoin), gabapentin and the antibiotic ciprofloxacin.
The US government also took steps to blacklist two facilities from exporting drugs to the United States until they brought they increased safety levels in compliance with the FDA code.
However, the company also added that they are making an effort to support Ranbaxy’s effort to not only resolve any legal issues but also to ensure that its subsidiary (Ranbaxy) is making the necessary changes to its business practice after this major slip up.
Yet this isn’t the first time such an incident has occurred as a stomach acid blocker was recalled from the Netherland in February 2012 as it was found to have impurities. In addition, the company stopped production of Lipitor that made it to the United States after glass was found in some bottles.
The company is also said to have sell ineffective HIV medication in Africa, and where its executives said, “Who cares? It’s just black dying.”
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