Under the terms of the settlement agreements, the subsidiaries will make a block payment of a combined total amount of US $ 85 million in return for a full discharge of all claims made against them in the direct buyer action by the subsidiaries. members of the settlement group, he added.
Settlement payment amounts will be reduced by $ 10 million if the direct purchasers who opt out of the putative category collectively represent 20 percent or more of Taro and Sun Pharmaceutical Industries, Inc.’s total dollar sales of the generic pharmaceuticals involved in the claim. the direct action of the buyer, said Sun Pharma.
“The full amount of payments under the settlement agreements has already been forecast in the prior consolidated financial results of Sun Pharmaceutical Industries Ltd. The settlement agreements were reached without admitting any wrongdoing in the direct purchaser action “, he added.
Settlement agreements are subject to court approval, Sun Pharma said.