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.
This endeavor was unsuccessful as the FDA requested Ranbaxy to hand over audits conducted by its external consultant, Parexel, which the company claimed were confidential. The meeting culminated in a stalemate. On June 11, 2008, Singh surprised the Indian business community by declaring that he and his brother were selling their 33.5% stake in Ranbaxy to the Japanese pharmaceutical firm Daiichi Sankyo for $2 billion.