KUALA LUMPUR (Sept 10): IHH Healthcare Bhd (KL:IHH) said on Thursday its Singapore unit Northern TK Venture (NTK) has lost its lawsuit seeking more than ¥200 billion (about RM5.3 billion) in damages from Japanese drugmaker Daiichi Sankyo Co Ltd.

In a bourse filing, IHH said the Tokyo District Court delivered its judgment on Thursday, dismissing all of NTK’s claims and ordering the company to bear the litigation costs.

However, IHH said NTK disagrees with the decision and remains confident in the merits of its position.

NTK is reviewing the judgment with its legal counsel and evaluating all available legal remedies to seek the relief it believes is warranted, IHH said.

“NTK remains committed to vigorously protecting its rights and interests through every appropriate legal channel,” the group said.

The dispute between IHH and Daiichi dates back to 2018, when IHH, through NTK, acquired a 31.1% stake in India’s Fortis Healthcare through a preferential allotment of new shares. The acquisition triggered mandatory open offers for an additional 26% stake in Fortis and its subsidiary Fortis Malar Hospitals.

The open offers were subsequently held up after Daiichi Sankyo took legal action in India in connection with its long-running dispute with Fortis’ former promoters, brothers Malvinder and Shivinder Singh.

Daiichi had won an arbitration award against the brothers over its 2008 acquisition of Ranbaxy Laboratories and was seeking to enforce the award in India.

NTK alleged that Daiichi’s actions prevented it from completing the open offers, causing it financial losses. NTK subsequently sued Daiichi in the Tokyo District Court in 2023, initially seeking ¥20 billion in damages.

In May 2025, NTK increased its damages claim to about ¥200 billion, based on an expert report that assessed potential losses under three scenarios in which the open offers had proceeded without the alleged interference by Daiichi. The revised claim also included compensation for alleged defamation and reputational harm.

Shares of IHH fell three sen or 0.4% to RM7.89 on Thursday, giving the group a market capitalisation of RM69.7 billion.