IHH subsidiary sues Japanese pharma company over Fortis Malar deal

The IHH unit is seeking to claim damages of JPY20b from the Japanese company.

Northern TK Venture, an indirect wholly owned subsidiary of IHH Healthcare, has filed a lawsuit against Japanese pharmaceutical company, Daiichi Sankyo for allegedly preventing them from proceeding with open offers to buy a stake at India’s Fortis Healthcare.

In a bourse filing, SGX-listed IHH Healthcare said its subsidiary filed a JPY20b claim against Daiichi Sankyo at the Tokyo District Court for causing losses to the former.

Under the lawsuit filed by NTK, Daiichi Sankyo will have to pay JPY20b with interest of 3% per annum.

“NTK is also seeking an injunction to prevent Daiichi Sankyo from making defamatory remarks against NTK concerning the open offers,” IHH Healthcare stated.

“The claims filed by NTK against Daiichi Sankyo are tort claims premised on the latter’s unlawful interference with NTK’s trade or business, conspiracy of Daiichi Sankyo and other persons, malicious falsehood and defamation under the applicable substantive laws,” the company added.