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The story keeps getting stranger ...

Posted Nov 10 2008 4:17pm

The story keeps getting stranger by the day.  A little recent history can be found here.   The US is only 2-3% of their entire market so most pharmacies have already found other supplies, such as Walgreens did a few months ago when things started brewing.  Will this soon be a Japanese owned business?   The proposed purchase as stated below is not affected by the recent activities taking place in the US.  BD 

“Japan'sDaiichi SankyoCo., which is awaiting Indian government approval for its $4.6 billion bid for Ranbaxy, said the move won't affect the proposed deal. "We are implementing the [takeover] procedure as planned," a spokesman said.”

The Indian generic drugmaker, which is under investigation for allegedly falsifying records that resulted in the production and sale of generic meds that didn’t meet FDA standards, has hired Rudy Giuliani “to provide advice and review compliance issues,” according to a statement this evening.

This is the second time the former New York City mayor has acted as a paid consultant to a troubled drugmaker. He also worked for Purdue Pharma, which was fined for its Oxycontin marketing, and he helped negotiate a deal with federal prosecutors that kept company execs out of jail. Ironically, when he was a US Attorney in Manhattan, Rudy didn’t hesitate to send junk bond dealers to jail because they preyed on the system. Of course, Rudy is a private consultant now and paid to serve his clients.

http://www.pharmalot.com/2008/09/ranbaxy-hires-rudy-giuliani-to-fend-off-feds/

Technorati Tags: Ranbaxy, generic drugs, Guiliani, FDA, Pharma
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