Daiichi Sankyo case: Setback for Singh brothers in Singapore court

Daiichi has convinced an Indian court to halt the sale of another firm founded by the Singhs

Singapore’s High Court has rejected an appeal from Shivinder and Malvinder Singh and upheld an earlier order that they must pay $526 million to Daiichi Sankyo, according to people familiar with the matter.

The verdict is the latest court victory for the Japanese drugmaker as it seeks to enforce a finding by a Singapore tribunal that the Singhs concealed information during the sale of their Ranbaxy Laboratories a decade ago. Ranbaxy plead guilty to the distribution of adulterated drugs and had to pay the US Department of Justice a $500 million penalty in 2013 after Daiichi bought it from the Singhs.