Analysis Group Client Daiichi Sankyo Is Awarded Over $500 Million in Arbitration
June 15, 2016
A Singapore International Arbitration Centre panel awarded Daiichi Sankyo, a Japanese pharmaceutical firm, the rupee-denominated equivalent of approximately US $525 million on April 29, 2016 in connection with an arbitration related to Daiichi Sankyo's 2008 investment in Indian generic pharmaceutical firm Ranbaxy. The damages award, which includes attorneys' fees and expenses, pre-award interest, and reimbursement of arbitration costs, relates to the former owners of Ranbaxy fraudulently concealing and misrepresenting U.S. Food and Drug Administration and Department of Justice investigations into Ranbaxy at the time of Daiichi Sankyo's investment.
An Analysis Group team led by President and CEO Martha Samuelson, Managing Principal Richard Starfield, and Vice Presidents Crystal Pike and Ted Davis, supported academic affiliate Dr. Ray Ball in assessing economic damages to Daiichi Sankyo stemming from the fraudulent concealment.