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Ranbaxy to Pay $500 Million to Settle Criminal, Civil Cases

Ranbaxy Laboratories Ltd. agreed to pay $500 million to resolve fraud allegations made in a whistle-blower’s lawsuit and federal criminal charges that the company sold adulterated drugs while lying about it to U.S. regulators.

Ranbaxy, in papers filed in federal court in Baltimore yesterday, admitted it sold batches of drugs that were improperly manufactured, stored and tested. The company, India’s biggest drugmaker, also pleaded guilty to making fraudulent statements to the Food and Drug Administration about how it tested drugs at two of its Indian plants.