Drug Safety Settlement

A Ranbaxy office building is pictured in the northern Indian city of Mohali May 14, 2013. Indian generic drugmaker Ranbaxy Laboratories Ltd pleaded guilty on Monday to felony charges related to drug safety and will pay $500 million in civil and criminal fines under the settlement agreement with the U.S. Department of Justice. The settlement is its largest-ever with a generic drugmaker over drug safety, according to the U.S. government. It includes $150 million in payments for a criminal fine and forfeiture and $350 million in payments for civil claims. REUTERS/Ajay Verma (INDIA - Tags: HEALTH BUSINESS)

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Japanese drugmaker Daiichi Sankyo Co, which bought control of Ranbaxy Laboratories in 2008, said it believes unnamed former shareholders of the company hid information regarding U.S. regulatory probes into Ranbaxy.  Full Article 

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BRUSSELS | Sun Jan 15, 2012 9:01am IST

BRUSSELS (Reuters) - The euro zone economy has a 40 percent chance of going into recession this year, with a contraction of up to 1.5 percent, ratings agency Standard & Poor's said on Saturday as it warned governments their policies were too focused on cutting debt.

"The risk of recession is rising and we are now forecasting a recession with a 40 percent probability for this year," S&P credit analyst Moritz Kraemer told a conference call.

"That could lead to a euro zone economic contraction of around 1.5 percent."

S&P downgraded the sovereign debt ratings of nine of the euro zone's 17 member states on Friday and said in the call with investors and reporters that it was disappointed the European Central Bank had not stepped up its purchases of the bloc's bonds in the secondary market to calm investors.

(Reporting By Robin Emmott)
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