Zydus Lifesciences' US Arm Agrees to Pay USD 5.9 Mn to Settle Generic Drug Pricing Litigation
Ahmedabad: Zydus Lifesciences Limited has disclosed that its wholly owned subsidiary, Zydus Pharmaceuticals USA Inc. (ZPUI), has entered into a Settlement Agreement with a putative class of Indirect Reseller Plaintiffs to resolve certain litigation matters related to generic pharmaceutical pricing.
According to the company, the litigation is proceeding as part of MDL No. 2724 (Case No. 16-md-2724), In re Generic Pharmaceuticals Pricing Antitrust Litigation, pending in the United States District Court for the Eastern District of Pennsylvania.
Under the Settlement Agreement, ZPUI has agreed to pay a total of USD 5.9 million to resolve the litigation matters. The settlement provides for a full and final release of all claims by the Indirect Reseller Plaintiffs.
The company stated that the Settlement Agreement was entered into without any admission of fault or wrongdoing by ZPUI.
Also Read: Zydus Wins GST Appeal, Rs 41.9 Lakh Demand Reduced to Rs 0.44 Lakh
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