Ranbaxy Fraud


You’d be forgiven for thinking that you were reading a plot from a Bollywood movie from the 1980s. Except that this happened in the US, and in this millennium, and the whistleblower walked away with $48 million instead of getting a bullet through his chest:

On May 13, Ranbaxy pleaded guilty to seven federal criminal counts of selling adulterated drugs with intent to defraud, failing to report that its drugs didn’t meet specifications, and making intentionally false statements to the government. Ranbaxy agreed to pay $500 million in fines, forfeitures, and penalties — the most ever levied against a generic-drug company. (No current or former Ranbaxy executives were charged with crimes.) Thakur’s confidential whistleblower complaint, which he filed in 2007 and which describes how the company fabricated and falsified data to win FDA approvals, was also unsealed. Under federal whistleblower law, Thakur will receive more than $48 million as part of the resolution of the case.

via Dirty medicine – Fortune Features.

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