IHH Healthcare Intensifies Legal Battle with Daiichi Sankyo

Malaysia's IHH Healthcare has significantly increased its damage claim against Japan's Daiichi Sankyo in Tokyo District Court, raising it from JPY 20 billion to JPY 200 billion. This lawsuit stems from Daiichi's alleged obstruction of IHH's bid for Fortis Healthcare, causing substantial losses to IHH's subsidiary, Northern TK Ventures.

Malaysia's IHH Healthcare has ramped up its legal front against Japan's Daiichi Sankyo, escalating its damage claim from an initial JPY 20 billion to a staggering JPY 200 billion in Tokyo District Court.

This legal move comes amidst allegations that Daiichi Sankyo obstructed IHH's efforts to acquire shares in Indian hospital chain Fortis Healthcare in 2018, resulting in severe financial implications for IHH's subsidiary, Northern TK Ventures (NTK).

IHH has asserted that Daiichi Sankyo's actions prevented the completion of NTK's open offer to Fortis shareholders, significantly impacting the company's operations and financial interests in the burgeoning Indian healthcare market.

(With inputs from agencies.)