RANBAXY LABORATORIES LTD.

RANBAXY LABORATORIES LTD. - Updates

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16 Oct 2014
Ranbaxy Laboratories Ltd has informed BSE that Ranbaxy has settled the litigation concerning its participation in the Texas Medicaid Program. Under the settlement agreement, Ranbaxy will make payments to the State of Texas totaling $39.75 million in a series of tranches through August 2015.<br/><br/>The claims at issue related exclusively to the manner in which the Ranbaxy has historically reported pricing data to Texas Medicaid for certain of its drugs. As has been widely reported, the State of Texas has brought nearly identical claims against virtually every other major pharmaceutical manufacturer in the United States. Ranbaxy believes that it fully complied with all relevant laws, however the Company settled the matter to avoid any further distraction and uncertainty of continued litigation with the State of Texas.
View all announcements for RANBAXY LABORATORIES LTD.	Source: BSE India

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