Sun Pharmaceutical Industries Limited has informed the Exchange regarding 'Execution of settlement agreement in the In re Generic Pharmaceuticals Pricing Antitrust Litigation'.
SUNPHARMA · price
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Sun Pharma's U.S. subsidiaries, SPII and Taro, have signed a settlement agreement with End Purchaser Plaintiffs in an antitrust class action lawsuit related to generic drug pricing, pending in the Eastern District of Pennsylvania. Under the deal, the subsidiaries will collectively pay US$ 200 million in exchange for a full release of all claims. The settlement amount may be reduced if a significant portion of the insured class members opt out. The agreement is made without any admission of wrongdoing and is subject to court approval.
Shareholders should note a potential US$ 200 million (~₹1,670 crore) outflow from the company's U.S. subsidiaries, which could dent near-term earnings. The 'no admission of wrongdoing' clause and possibility of a reduced payout offer some cushion, but the settlement still represents a material liability being closed.