New Delhi: Sun Pharmaceutical Industries said Friday that two of its US-based subsidiaries have settled with the plaintiffs to settle a lawsuit filed under anti-competitive law regarding the price of generic drugs in the US. companies will pay a total of $ 85 million to resolve the claims against him.
“Taro Pharmaceuticals USA, Inc. and Sun Pharmaceutical Industries, Inc. have entered into agreements with direct purchasers in connection with the ongoing anti-competitive generic pharmaceutical pricing litigation in Pennsylvania, USA,” Sun Pharma said in a notice from the stock market. Under the terms of the settlement agreements, the subsidiaries will pay a total of $ 85 million to drop the claims against them.
Sun Pharma’s net profit increases 13% in the second quarter
Major pharmaceutical industry Sun Pharmaceutical Industries recently reported that its cumulative net profit increased 12.92 percent to Rs 2,047.01 crore for the September 30 quarter of the current fiscal year. Sun Pharma told the stock exchange that the company had made a net profit of Rs 1,812.79 crore in the corresponding period of the previous financial year. Revenue from operations was Rs 9,625.93 million for the quarter under review, compared to Rs 8,553.13 million in the same period last year.