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For Immediate Release
Company name: DAIICHI SANKYO COMPANY, LIMITED
Representative: Joji Nakayama, President and CEO
(Code no.: 4568, First Section, Tokyo, Osaka and Nagoya Stock Exchanges)
Please address inquiries to Noriaki Ishida, Corporate Officer,
Vice President, Corporate Communications Department
Ranbaxy Announces Improved Business Standards and Quality Assurance Initiatives
Tokyo, Japan (May 22, 2013) – Ranbaxy Laboratories Limited (hereafter, Ranbaxy), a subsidiary of Daiichi Sankyo Co., Ltd. (hereafter, Daiichi Sankyo), today announced via the attached press release of the actions that Ranbaxy has taken in recent years to address past conduct under prior management.
Daiichi Sankyo continues to support Ranbaxy in its efforts to address and correct the conduct of the past which led to the investigations by the U.S. Department of Justice (“DOJ”) and the U.S. Food and Drug Administration (“USFDA”). These efforts include significant changes to Ranbaxy’s management, culture, operations and compliance.
Daiichi Sankyo believes that certain former shareholders of Ranbaxy concealed and misrepresented critical information concerning the U.S. DOJ and FDA investigations. Daiichi Sankyo is currently pursuing its available legal remedies and cannot comment further on the subject at this time.
RANBAXY HIGHLIGHTS IMPROVED BUSINESS AND QUALITY ASSURANCE STANDARDS
DEDICATED TO PROVIDING SAFE AND EFFICACIOUS MEDICINES GLOBALLY
Gurgaon, India, May 22, 2013: Ranbaxy Laboratories Ltd. (RLL, NSE: RANBAXY, BSE: 500359) (“Ranbaxy”) today highlighted some of the major specific actions the Company has been taking in recent years to address certain conduct of the past and to ensure the safety and efficacy of all Ranbaxy products currently available in the global market. These actions include:
- - Enhancing its compliance procedures and policies
- - Upgrading its business and manufacturing processes
- - Building a culture of accountability and excellence across all levels of the organization
- - Complete reconstitution of the Board of Directors and Executive Management team
For additional information on the above, please visit www.ranbaxy.com
Arun Sawhney, CEO & Managing Director, Ranbaxy, stated, “Ranbaxy is a different company today. The steps we have taken over the recent years reflect the wide-ranging efforts of the current board and management to address certain conduct of the past and ensure that Ranbaxy moves forward with integrity and professionalism in everything we do. We are fully committed to upholding the high standards that patients, prescribers and all other stakeholders expect.”
Sawhney added, “All Ranbaxy products currently in the global market are safe and effective, and we remain focused on our philosophy of ‘Quality and Patients First.’ In the recent years we have made significant improvements in the way we conduct our business to ensure greater quality control and have made investments of over US$ 300 million in our manufacturing facilities to install state-of-the-art technologies. We have also instituted a rigorous new Code of Conduct for all Ranbaxy employees, with clear accountability for compliance.”
Sawhney concluded, “Ranbaxy has successfully launched several new generic equivalents across the world recently, and maintains a robust pipeline of important new products as we look to build on our strong global portfolio of branded and generic prescription and OTC pharmaceuticals. We look forward to continuing to enrich lives globally with quality and affordable medicines.”
About Ranbaxy Laboratories Limited
Ranbaxy Laboratories Limited, India’s largest pharmaceutical company, is an integrated, research based, international pharmaceutical company producing a wide range of quality, affordable generic medicines, trusted by healthcare professionals and patients across geographies. Ranbaxy’s continued focus on R&D has resulted in several approvals, in developed and emerging markets many of which incorporate proprietary Novel Drug Delivery Systems (NDDS) and technologies, developed at its own labs. The company has further strengthened its focus on generics research and is increasingly working on more complex and specialty areas. Ranbaxy serves its customers in over 150 countries and has an expanding international portfolio of affiliates, joint ventures and alliances, ground operations in 43 countries and manufacturing operations in 8 countries. Ranbaxy is a member of the Daiichi Sankyo Group. Through strategic in-licensing opportunities and its hybrid business model with Daiichi Sankyo, a leading global pharma innovator headquartered in Tokyo, Japan, Ranbaxy is introducing many innovator products in markets around the world, where it has a strong presence. This is in line with the company’s commitment to increase penetration and improve access to medicines, across the globe. For more information, please visit www.ranbaxy.com.
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