sun Pharmaceutical Industries Ltd: Sun Pharma’s two US branches to pay $ 85 million in settlements in antitrust dispute

New Delhi: Sun Pharmaceutical Industries said on Friday that two of its US-based subsidiaries have signed settlement agreements with direct buyer plaintiffs in the US generic drug price antitrust litigation case and will pay a fee. total of $ 85 million for the full release of claims against them. “Taro Pharmaceuticals USA, Inc and Sun Pharmaceutical Industries, Inc. have signed settlement agreements with direct purchaser plaintiffs in the In re Generic Pharmaceuticals Pricing antitrust litigation that has been taking place in the Eastern District of Pennsylvania, United States since awhile, ”Sun Pharma said in a regulatory filing.

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.

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