Lupin to pay fine of Euro 40 million to European Commission

The Court of Justice of the European Union dismissed the final appeal filed by Lupin against the order of the European Commission levying fine of Euro 40 million, in July 2014.

The patent settlement agreement entered into by the Company with Servier in January 2007 for the product Perindopril was found to be anticompetitive by the European Commission.

Pursuant to the judgement, the Company will be required to make payment of Euro 40 million and interest thereon to the European Commission. However, there will not be any impact on the P&L of the Company for the current financial year since this was already provided earlier in the accounts on a prudent basis.

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