Sun Pharma Subsidiaries Settle with Plaintiff in US Generic Drug Pricing Litigation
New Delhi: Sun Pharmaceutical Industries Limited has informed that three of its subsidiaries have signed a settlement agreement with a plaintiff in the In re Generic Pharmaceuticals Pricing Antitrust Litigation before the US District Court for the Eastern District of Pennsylvania.
The settlement amount is confidential.
The subsidiaries are Sun Pharmaceutical Industries, Inc. (SPII), Taro Pharmaceutical Industries Ltd. (Taro Ltd.) and Taro Pharmaceuticals U.S.A., Inc. (Taro USA).
Sun Pharma stated that under the terms of the settlement agreement, the subsidiaries will make the settlement payment in exchange for a full release of all claims asserted against them (and all of their current and former parents, affiliates, predecessors and successors as well as their current and former directors, officers, employees and representatives) in this Action. Other terms of the settlement remain confidential.
The company added that the agreement was entered into without any admission of wrongdoing.
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