Ranbaxy Settles With FDA, Sets Aside $500M For DOJ Probe

Law360, New York (December 20, 2011, 10:56 PM EST) -- Generic drug maker Ranbaxy Laboratories Ltd. said Tuesday it has settled with the U.S. Food and Drug Administration and set aside $500 million to resolve any liability arising from a separate U.S. Department of Justice investigation.

The Indian drugmaker said it had signed a consent decree with the FDA and agreed to strengthen procedures and policies regarding data integrity and to comply with good manufacturing practices. The settlement is subject to the District of Maryland's approval, according to Ranbaxy.

"We are pleased to have resolved this...
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