Two Marion directors were "out of the country and will be arrested as soon as they land in India," senior police official Ram Badan Singh told Reuters.
Uzbekistan in December said the children died after consuming Marion's cough syrups.
The same toxin was found in cough syrups exported to Gambia by another Indian company, Maiden Pharmaceuticals.
India in October suspended production at Maiden for violations of manufacturing standards after the World Health Organization said four of its cough syrups may have killed dozens of children in Gambia.
The deaths in Gambia and Uzbekistan have dented the image of the $41 billion pharmaceutical industry in India, which is known as the "pharmacy of the world."