Sun Pharma Settles US Antitrust Litigation For $200 Million
The settlement amounts may be reduced if more than a certain percentage of the total insured class members opt out of the putative class, the company stated.
Sun Pharmaceutical Industries on Thursday said it has settled an antitrust litigation in the US entailing a payment of $200 million.
The subsidiaries of the company, Sun Pharmaceutical Industries, Inc. and Taro Pharmaceuticals USA, Inc. have signed a settlement agreement with the End Purchaser Plaintiffs in the In re Generic Pharmaceuticals Pricing Antitrust Litigation in the Eastern District of Pennsylvania, US, the Mumbai-based drugmaker said in a regulatory filing.
"Under the terms of the settlement agreement, the subsidiaries will make an aggregate payment of $200 million in exchange for a full release of all claims asserted against them in the End Purchaser Action by the settlement class members," it added.
The settlement amounts may be reduced if more than a certain percentage of the total insured class members opt out of the putative class, the company stated.
The settlement agreement is subject to court approval, it added.
