Sun Pharma up 4% as US arm's Taro Pharma resolves antitrust investigation

Taro Pharma has reached a settlement agreement with the US Department of Justice, Antitrust and Civil divisions to pay more than $200 million to settle the generic drug price fixing allegations

Shares of Sun Pharmaceutical Industries were up 4 per cent to Rs 496 in the early morning trade on the BSE on Friday after its US subsidiary, Taro Pharma reached a settlement agreement with the US Department of Justice (DoJ), Antitrust and Civil divisions to pay more than $200 million to settle the generic drug price fixing allegations against the company.

“Taro Pharmaceutical Industries has announced that its wholly-owned subsidiary, Taro Pharmaceuticals USA Inc., has resolved all cases involving the Company in connection with the multi-year investigations by the Department of Justice, Antitrust Division and Civil Division into the US generic