Lupin Limited has informed the Exchange about execution of Settlement Agreement.
LUPIN · price
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Lupin's US subsidiary, Lupin Pharmaceuticals Inc. (LPI), has entered into a settlement agreement with Humana Inc. to resolve antitrust litigation claims. The settlement involves LPI paying USD 30 million for a full release of all claims related to alleged anticompetitive behavior and antitrust law violations in the generic pharmaceuticals business. The case was part of consolidated litigation called 'In Re Generic Pharmaceuticals Antitrust Litigation' in Philadelphia. LPI has denied all allegations and the settlement amount was already provisioned in prior financial results. Other defendants in similar cases have also settled previously.
The settlement removes uncertainty around one antitrust case, though LPI continues to face similar lawsuits in the same litigation. The already-provisioned amount means no additional financial impact is expected, but ongoing antitrust litigation remains a contingent liability for shareholders.