Sun Pharmaceutical Industries Ltd group has signed settlement agreement in the In re Generic Pharmaceuticals Pricing Antitrust Litigation

Sun Pharmaceutical Industries Limited ("Sun Pharma") subsidiaries, Sun Pharmaceutical Industries, Inc. ("SPII") and Taro Pharmaceuticals U.S.A., Inc. ("Taro"), have signed 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 settlement agreement, the subsidiaries will make an aggregate payment of US$ 200 Million in exchange for a full release of all claims asserted against them (and all of their current and former parents, affiliates, predecessors and successors as well as their current and former directors, officers, employees and representatives) in the End Purchaser Action by the settlement class members. The settlement amounts may be reduced if more than a certain percentage of the total insured class members opt out of the putative class.

The settlement agreement is entered into without admission of any wrongdoing in the End Purchaser Action. The settlement agreement is subject to court approval.

Shares of Sun Pharmaceutical Industries Limited was last trading in BSE at Rs. 1698.60 as compared to the previous close of Rs. 1692.10. The total number of shares traded during the day was 95901 in over 4857 trades.

The stock hit an intraday high of Rs. 1701.50 and intraday low of 1682.30. The net turnover during the day was Rs. 162850428.00.

Source : Equity Bulls

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SunPharmaceuticalIndustries INE044A01036 SettlementAgreement