Tokyo Court Dismisses IHH Unit’s Claims Against Daiichi Sankyo

KUALA LUMPUR, Sept 10 (Bernama) -- The Tokyo District Court has dismissed all claims brought by IHH Healthcare Bhd’s indirect wholly-owned subsidiary Northern TK Venture Pte Ltd (NTK) against Japanese pharmaceutical company Daiichi Sankyo Company Ltd.

IHH said the court also ordered NTK to bear the costs of the litigation. “NTK respectfully disagrees with the court’s decision and maintains firm confidence in the merits of its position,” it said in a stock exchange filing.

IHH said NTK is reviewing the judgment in detail with its legal counsel and evaluating all available legal remedies to pursue the relief it believes is warranted. “NTK remains committed to vigorously protecting its rights and interests through every appropriate legal channel,” it added.

The healthcare group said it would make further announcements in the event of any material developments on the matter.

IHH said last year that NTK was seeking compensation of up to 109.3 billion Indian rupees (RM5.7 billion) from Daiichi Sankyo over its investment in India’s Fortis Healthcare Ltd.

NTK filed a claim in October 2023, alleging that the Japanese drugmaker had caused it losses by preventing it from proceeding with open offers to acquire additional shares in the Indian hospital chain in 2018.

-- BERNAMA