HIT hard by mounting scrutiny and falling stocks, Ranbaxy CEO and MD Malvinder Singh said a big global pharma company was trying to scuttle the deal with Daiichi Sankyo. "This is part of a larger game of a global innovater company to block low-cost generic drugs,'' he said. According to him, there are many facts pointing to that direction (involvement of a big pharma company in hammering Ranbaxy share price and scuttle the deal). "We have received calls from a bunch of people referring to what is happening. It is not about safety and quality of medicines. The bigger issue is cheap drugs versus expensive drugs,' Mr Singh said. India's largest pharma company Ranbaxy makes off-patent (generic) medicines which are significantly cheaper than patented products. All developments have started in the last few weeks, after we announced the binding deal with Daiichi Sankyo on June 11. All this is reflective of one company trying to derail the deal. If you look at the market dynamics, generic companies have been hitting the top line and bottomline of big pharma companies. A strategic alliance will Daiichi Sankyo would further strengthen Ranbaxy's ability of what it is good at doing, Mr Singh added. Ranbaxy stocks fell 17.68% to Rs 437.45 on Friday from Rs 531.45 on Monday at BSE, since the news of US authorities legal action against Ranbaxy became public. The stock fell 3.26% on Friday alone. "The investigations have been going on for 2-3 years. They have not pointed out anything against the company or have filed any charge so far. All these (legal move and Congressional probe) are means and ways to create an issue and unstability, " Mr Singh added. He, however, declined to divulge the name of the big global company or whether it was any of the companies reportedly interested in buying Ranbaxy. This is the second time in the last 3 days that Mr Singh has come out in the open to defend the company and clear the air of uncertainty.