Sun Pharmaceutical Industries Limited announced that its subsidiaries, including Sun Pharmaceutical Industries, Inc. and Taro Pharmaceutical Industries Ltd., have entered into a settlement agreement with a plaintiff in the In re Generic Pharmaceuticals Pricing Antitrust Litigation. The settlement is for a confidential amount and provides a full release of all claims against the subsidiaries and related entities. The agreement is entered into without admission of any wrongdoing.
Settlement Agreement Reached in Antitrust Litigation
Sun Pharmaceutical Industries Limited (Sun Pharma) has disclosed that its subsidiaries, specifically Sun Pharmaceutical Industries, Inc. (“SPII”), Taro Pharmaceutical Industries Ltd. (“Taro Ltd.”), and Taro Pharmaceuticals U.S.A., Inc. (“Taro USA”), have executed a settlement agreement. This agreement pertains to the ongoing litigation titled “In re Generic Pharmaceuticals Pricing Antitrust Litigation,” which was being heard in the Eastern District of Pennsylvania, U.S.
Key Terms of the Settlement
The terms of the settlement agreement stipulate that the subsidiaries will make a payment for a comprehensive release from all claims brought forth in the Action. This release extends to the subsidiaries themselves, as well as their current and former parents, affiliates, predecessors, successors, and their respective directors, officers, employees, and representatives. The specific financial amount of the settlement has been kept confidential. It is important to note that the settlement has been entered into by the parties without any admission of wrongdoing regarding the allegations in the Action.
Source: BSE
