You are here: Home » News-CM » Companies » News
Business Standard

Sun Pharma update on Generic Drug Application Antitrust Litigation in US

Capital Market 

Sun Pharmaceuticals Industries announced that the company along with wholly owned subsidiaries is a defendant in a multi-district litigation brought by various classes of plaintiffs, in the US District Court (District of Massachusetts), alleging a delay in the market entry for three generic drugs (Valganciclovir, Valsartan and Esomeprazole). The complaints assert claims under the Racketeer Influenced and Corrupt Organizations Act, federal and state antitrust laws, and state consumer protection laws.

These litigations have already been disclosed in the Company's 2018-19 annual report.

On 27 November 2019, the US District Court (District of Massachusetts) entered a decision denying in part and granting in part Sun Pharma's motion to dismiss the claims of certain plaintiffs.

Under the ruling the majority of those plaintiff's claims survive and several state law claims are dismissed. The litigation is proceeding in discovery.

Sun Pharma will continue to vigorously defend against all claims and is also considering its appeal options as to the claims that were not dismissed in the above court decision.

Powered by Capital Market - Live News

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, December 02 2019. 09:29 IST
RECOMMENDED FOR YOU
RECOMMENDED FOR YOU