NTK had initially sought 20 billion yen in damages, with an interest rate of 3% per annum. However, on Feb 6, NTK submitted a preparatory brief along with an expert report on the detailed assessment of losses that it suffered, based on three counterfactual scenarios assuming that the Open Offer had proceeded as originally scheduled and that Daiichi Sankyo had not interfered.
IHH Healthcare’s unit Northern TK Venture (NTK) is increasing damages sought against Japanese drugmaker Daiichi Sankyo Co Ltd by ten times, from 20 billion yen ($180 million) to 200 billion yen.
The lawsuit, first announced on November 14, 2023, arose from alleged obstruction by Daiichi Sankyo against NTK’s efforts to complete its open offers to acquire shares in Fortis Healthcare Limited, and its step-down subsidiary, Fortis Malar Hospitals.
