Ranbaxy Agrees to Pay at Least $350 Million to Settle U.S. Suit

Ranbaxy Laboratories Ltd. (RBXY) agreed to pay at least $350 million to settle a whistle-blower lawsuit joined by the U.S. that alleges the company made false claims in connection federal drug program payments.

The agreement, which also reflected the company’s plan to plead guilty to related criminal charges, was filed in federal court in Maryland.

To contact the reporter on this story: Andrew Zajac in Washington at azajac@bloomberg.net

To contact the editor responsible for this story: Fred Strasser at fstrasser@bloomberg.net

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