The Hindu Business Line : Price fixing: Ranbaxy UK arm cleared

New Delhi, July 22 The English Crown Court has quashed the six-year long and expensive prosecution against Ranbaxy’s UK subsidiary by the UK Serious Fraud Office (SFO).

In a statement , the company said that the prosecution had been “quashed and that the court had declined an SFO’s application to appeal to the English Court of Appeal.”

The SFO could appeal in another court.

Acting on information from a whistle-blower, the SFO investigated; and in 2006 charged the companies and some of its executives with conspiracy to defraud the National Heath Service, by forming a cartel that fixed and falsely inflated prices of generic drugs between January 1996 and December 2000.

Amongst those cleared of charges, is Mr Anil Sharma, formerly with Ranbaxy (UK).

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