Lupin Reaches Quarter-Of-A-Billion Dollar Deal Over Glumetza Antitrust Claims
Antitrust Class Action Filed In 2019; Bausch Health Settled Earlier In September
Lupin has agreed to pay $248m to settle the majority of antitrust claims against the company alleging that it caused and enabled the prolonged delayed launch of generic Glumetza, which subsequently saw a price hike of more than 800% by originator Valeant, now Bausch Health.
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Lupin’s 2021/22 financial year results revealed weakness in its core US generics business amid challenging market conditions. The Indian firm will continue to throw its weight behind its domestic business while rebuilding the US operation with more complex, high-value launches.
In 2021, courts across the US and beyond continued to weigh key patent litigation fights, alongside the thorny issue of induced infringement via label carve outs and controversial charges for generic price fixing.
Lupin’s Q2 was a tale of three generics settlements – on Glumetza, which is still a commercial win despite the quarter-billion dollar outgo so far, on Spiriva, which will likely lead to happy tidings next fiscal year, and on Revlimid, on which the company has yet to make up its mind.