Sun And Taro Strike Generic Price-Fixing Settlement
US Subsidiaries Will Pay $85m To Settle With Direct Purchaser Plaintiffs
Sun Pharma’s US subsidiaries have agreed to pay out $85m to settle US antitrust litigation over generic price-fixing with direct purchaser plaintiffs.
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Sun launched five generics in the US market during Q3 FY22 and is expecting to launch its generic version of Astellas and Gilead’s AmBisome (amphotericin B liposome injection) shortly. According to the Indian company, new launches and better supply chain management can help drive future growth.
Three civil settlements worth more than $447m in total have been reached with the US Department of Justice by Sandoz, Apotex and Sun’s Taro to resolve allegations over price-fixing. The deals follow criminal penalties previously paid by the three companies.
In the latest development arising from ongoing generic pricing investigations in the US, Taro has admitted to fixing prices, allocating customers and rigging bids for generic medicines, under a conspiracy with multiple firms, including Sandoz.