Sun Pharmaceutical Industries Ltd. settled claims worth $200 million in an antitrust case in Pennsylvania alleging that the firm, along with others, colluded to fix prices of generic drugs.
The units of India’s number one drugmaker — Sun Pharmaceutical Industries Inc. and Taro Pharmaceuticals USA Inc. — will pay the suing consumers in exchange for a full release of all claims against them, the company said in a statement to Indian exchanges Thursday.
The amounts may be reduced if “more than a certain percentage of the total insured class members opt out of the putative class,” the company said, adding that the settlement is “without admission of any wrongdoing” and is subject to court approval.
The Indian parent — which reported revenue of $6.1 billion in fiscal year 2025 — gets about a third of that from the US. Among its top generic therapies in the U.S. is Revlimid used for treating multiple myeloma — a cancer of plasma cells.
The case involves potential class action lawsuits against a number of pharmaceutical manufacturers for overcharging on 18 drugs, according to the Eastern District Court of Pennsylvania.
The Indian parent also settled a patent lawsuit this month with Incyte Corp. for hair loss drug Leqselvi and signed a licensing agreement to sell the drug in the U.S. for an undisclosed amount.
Copyright 2025 Bloomberg.
Was this article valuable?
Here are more articles you may enjoy.
Want to stay up to date?
Get the latest insurance news
sent straight to your inbox.
Source link