Zydus Lifesciences announced that its wholly-owned subsidiary, Zydus Pharmaceuticals USA Inc. (ZPUI), has entered into a Settlement Agreement to resolve class-action litigation concerning generic pharmaceuticals pricing. The company will pay a total of USD 5.9 million. This settlement, pertaining to MDL No. 2724 in the U.S. District Court for the Eastern District of Pennsylvania, resolves all claims without admitting fault or wrongdoing.
US Subsidiary Resolves Litigation
Zydus Lifesciences has disclosed that its U.S. subsidiary, Zydus Pharmaceuticals USA Inc. (ZPUI), has reached a settlement in a significant litigation matter. The agreement, termed “the Settlement,” addresses class-action claims related to pricing antitrust issues. This litigation was proceeding as part of MDL No. 2724, specifically Case No. 16-md-2724, “In re Generic Pharmaceuticals Pricing Antitrust Litigation,” which is pending in the United States District Court for the Eastern District of Pennsylvania.
Settlement Terms and Financial Impact
Under the terms of the Settlement, ZPUI has agreed to pay a total sum of USD 5.9 million to resolve the aforementioned litigation matters. The company emphasizes that the Settlement includes a full and final release of all claims brought by the Indirect Reseller Plaintiffs. Importantly, the agreement was entered into without any admission of fault or wrongdoing by ZPUI, thereby mitigating potential future liabilities and reputational damage.
Source: BSE
