Direct Purchaser Plaintiffs Announce Settlements in In Re Generic Pharmaceutical Pricing Antitrust Litigation.
What is the lawsuit about? Two proposed settlements (the “Settlements”) have been reached in a class action lawsuit (“the Lawsuit”), which alleges that Sun Pharmaceutical Industries, Inc. and its affiliates Caraco Pharmaceutical Laboratories, Ltd., Mutual Pharmaceutical Company, Inc., and URL Pharma, Inc., and Taro Pharmaceuticals U.S.A., Inc. (collectively “Settling Defendants”) violated the federal antitrust laws by conspiring with other generic drug manufacturers to fix, maintain, and stabilize prices, rig bids, and engage in market and customer allocations of certain generic drugs (the “Named Generic Drugs”), causing direct purchasers of the Named Generic Drugs to pay more than they should have. The Settling Defendants deny liability as alleged in the Lawsuit. The Court has not decided who is right. The proposed Settlements do not resolve any of the claims of the Settlement Class against the remaining Defendants. The Lawsuit against the remaining Defendants is ongoing.
