This attempt failed as the FDA asked Ranbaxy to turn over audits done by its outside consultant, Parexel, which the company was claiming were confidential. The meeting ended in a standoff. On 11 June 2008, Singh stunned the Indian business world by announcing that he and his brother were selling their 33.5% stake in Ranbaxy to the Japanese drugmaker Daiichi Sankyo for $2 billion.
Ranbaxy's attempt at compliance with FDA regulations ended in a stalemate as the agency demanded access to audits conducted by an outside expert, Parexel, which the company maintained were proprietary. The meeting concluded without a resolution. On June 11, 2008, Singh made a shocking announcement that he and his brother would be selling their significant stake in Ranbaxy to Daiichi Sankyo for $2 billion.