Sun Pharma Settles U.S. Antitrust Litigation For $485 Million
Settlement covers multiple antitrust, consumer protection, and civil RICO class actions in connection with these generic drugs.
![<div class="paragraphs"><p>Brightly coloured pharmaceutical medication. [Photographer: Chris Ratcliffe/Bloomberg]</p></div>](https://media.assettype.com/bloombergquint%2F2022-03%2Fbe149f61-de34-41d0-b271-aaf086b749ce%2F327451670.jpg?rect=0%2C273%2C4000%2C2250&auto=format%2Ccompress&w=200)
Sun Pharmaceutical Industries Ltd. has agreed to pay $485 million (about Rs 3,700 crore) to settle an antitrust litigation for allegedly delaying generic versions of three drugs in the U.S.
Sun Pharma and its U.S.-based subsidiary, Ranbaxy Inc., have signed a binding agreement with two plaintiff groups to settle claims regarding the antitrust litigation, the company said in an exchange filing. The case has been ongoing for several years.
The matter is related to alleged conduct by Ranbaxy Laboratories, before its acquisition by Sun Pharma and deals with application for three generic drugs: Diovan, Nexium and Valcyte, the company said.
The settlement covers multiple antitrust, consumer protection, and civil RICO class actions in connection with these generic drugs. “With a view to resolve this dispute and avoid uncertainty, the company has agreed to enter a comprehensive settlement."
The settlement agreement, on execution, will ensure that all allegations against it, "which it has denied, not conceded and not admitted, do not survive and stand extinguished", it said.