Sun Pharma Settles US Antitrust Litigation for USD 200 Mn

Sun Pharmaceutical Industries on Thursday said it has settled an antitrust litigation in the US entailing a payment of USD 200 million.

The subsidiaries of the company, Sun Pharmaceutical Industries, Inc. (SPII) 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 USD 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.