Sun Pharma subsidiaries settle US generic drug pricing antitrust case for confidential amount
The settlement involves Sun Pharmaceutical Industries Inc. (SPII), Taro Pharmaceutical Industries Ltd and Taro Pharmaceuticals U.S.A. Inc. The litigation is before the Eastern District of Pennsylvania, US.
“This is to inform you that Sun Pharmaceutical Industries Limited (Sun Pharma) subsidiaries, Sun Pharmaceutical Industries, Inc. (SPII), Taro Pharmaceutical Industries Ltd. (Taro Ltd.) and Taro Pharmaceuticals U.S.A., Inc. (Taro USA), have signed a settlement agreement with a plaintiff in the Inre Generic Pharmaceuticals Pricing Antitrust Litigation in the Eastern District of Pennsylvania, U.S., for a confidential amount,” according to a stock exchange filing.
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Under the agreement, the subsidiaries will make the settlement payment in exchange for a full release of all claims asserted against them in the action. The release also covers their current and former parents, affiliates, predecessors and successors, as well as their current and former directors, officers, employees and representatives.
Other terms of the settlement remain confidential. Sun Pharma said the agreement was entered into without admission of any wrongdoing in the action.
Shares of Sun Pharmaceutical Industries Ltd ended at ₹1,842.00, down by ₹22.00, or 1.18%, on the BSE.
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