Sun Pharmaceutical Industries Limited (“Sun Pharma”) has announced that its subsidiaries, Sun Pharmaceutical Industries, Inc. (“SPII”) and Taro Pharmaceuticals U.S.A., Inc. (“Taro”), have entered into a settlement agreement with the End Purchaser Plaintiffs in the In re Generic Pharmaceuticals Pricing Antitrust Litigation in the Eastern District of Pennsylvania, U.S.
Under the terms of the agreement, SPII and Taro will make a combined payment of $200 million. In return, all claims brought against them—along with their current and former parents, affiliates, predecessors, successors, directors, officers, employees, and representatives—will be fully released by the settlement class members in the End Purchaser Action.
The settlement amount may be reduced if more than a certain percentage of total insured class members opt out of the class.
Sun Pharma clarified that the settlement is being entered into without any admission of wrongdoing. The agreement remains subject to court approval.
In the meantime, Sun Pharma shares closed at ₹1,692.00 today, after opening at ₹1,682.50. During the session, the stock touched an intraday high of ₹1,696.00 and a low of ₹1,680.10. The stock remains below its 52-week high of ₹1,960.35, while staying comfortably above the 52-week low of ₹1,553.05.
