Sun Pharma Subsidiaries Settle Antitrust Litigation for $200 Million

Sun Pharmaceutical Industries Limited (Sun Pharma) announced that its 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. The subsidiaries have agreed to make an aggregate payment of US$ 200 Million in exchange for a full release of all claims asserted against them in the End Purchaser Action by the settlement class members. The settlement amount 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 and is subject to court approval.