IHH Healthcare has announced that its subsidiary is claiming compensation from Daiichi Sankyo in respect of its acquisition of shares from Fortis Healthcare amounting up to 109.3 billion rupees.
In October 2023, NTK, which is a subsidiary within IHH Healthcare, served notice of the claim against Daiichi describing how the pharmaceutical firm had suffered loss by preventing NTK's successful open offers for the purchase of the stake in Fortis Healthcare back in 2018.
Earlier, damages of 20 billion yen ($130.99 million) were claimed by NTK, which was awarded by the court in November 2023 and now became payable by Daiichi.
The expert report thus has made NTK allege damages ranging from 4.24 billion Indian rupees to 109.3 billion Indian rupees.
Reports suggest that IHH Healthcare, Asia's largest healthcare group, had halted its open offer to acquire a further 26 percent in Fortis due to a contempt petition filed by Daiichi against the founding members of Fortis.
There was no response available from either Daiichi or Fortis on a request for comments made by Reuters.
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