Glenmark to settle US lawsuits over generic drug for over Rs 715 crore
The settlements will make clear that the company denies each and every one of the allegations against it and the settlements are not on the basis of it having conceded or admitted any liability or illegality, it added.;
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New Delhi: Glenmark Pharmaceuticals said on Tuesday it will pay USD 87.5 million to three plaintiff groups to settle multiple antitrust and consumer protection lawsuits in the US related to a generic drug. There were multiple antitrust and consumer protection lawsuits, including a class action, consolidated in the Eastern District of Virginia against the company and its subsidiary Glenmark Pharmaceuticals Inc. in connection with generic Zetia, a drug for the treatment of cholesterol, the Mumbai-based drug maker said in a regulatory filing.
The lawsuits alleged that in 2010, Glenmark entered an anticompetitive agreement to settle patent infringement litigation involving a patent related to ezetimibe (the active ingredient in Zetia) with Schering Corporation and MSP Singapore Company LLC.
The trial for the case began on April 19, 2023 in the US courts. Three plaintiff groups collectively representing all of the claims against the company and Merck are referred to as the Direct Purchaser Plaintiffs, the Retailer Plaintiffs, and the End-Payor Plaintiffs, Glenmark said.
The settlements will make clear that the company denies each and every one of the allegations against it and the settlements are not on the basis of it having conceded or admitted any liability or illegality, it added.
Read also: Glenmark Pharma weighs selling stake in Glenmark Lifesciences
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