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To defend vigorously against price fixing conspiracy allegation in US: Dr Reddy's

Press Trust of India  |  New Delhi 

Tuesday said it will 'vigorously defend' against allegations that it engaged in conspiracy to prices in the US.

In a regulatory filing, the company said it was among the 21 and 15 other individual defendants against whom 49 US states, the Commonwealth of and the had filed a complaint in the for the District of with respect to 116 generic drugs.

"The complaint alleges that US subsidiary and the other named defendants engaged in a conspiracy to prices and to allocate bids and customers in the in the sale of the drugs," the company said.

Reacting to the lawsuit, said, "We intend to vigorously defend against these allegations and are in the process of filing our response with the of "

It further said, "Currently, we do not foresee any material impact to our operations and consolidated results with respect to this matter."

The company said its US subsidiary is specifically named as a defendant with respect to five generic drugs (Ciprofloxacin HCL tablets, tablets, tablets, Paricalcitol and Tizanidine), for an alleged "overarching conspiracy".

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

First Published: Tue, May 14 2019. 18:06 IST