Sun Pharma, subsidiary enter settlements in Modafinil antitrust litigation

New Delhi: Drug major Sun Pharmaceutical Industries Monday said the company along with its subsidiary has entered into settlements with certain plaintiffs in the Modafinil antitrust litigation pending in the US District Court for the Eastern District of Pennsylvania. The company, however, did not disclose the details of the settlement, saying the terms are confidential.

In a regulatory filing, Sun Pharma said “the settlements extend to all claims brought by the Direct Purchaser Plaintiffs”.

The company “and one of its wholly-owned subsidiaries have entered into settlements with certain plaintiffs in the ‘In re Modafinil Antitrust Litigation’ matter pending in the United States District Court for the Eastern District of Pennsylvania,” Sun Pharma said in a filing to the BSE.

Earlier in a regulatory filing on the quarterly results on November 13, 2018, the pharma major had reported a consolidated net loss of Rs 218.82 crore for the July-September quarter on account of a Rs 1,214-crore provision for the settlement of the Modafinil antitrust case in the US.

“After accounting for the provision of Rs 1,214 crore for the estimated settlement amount payable to all the remaining plaintiffs related to the Modafinil antitrust litigation in the US, the net loss for the quarter was at Rs 219 crore,” Sun Pharma had said.

Modafinil is a wakefulness-promoting drug for oral administration.

  • Related Posts

    • Pharma
    • March 27, 2024
    • 101 views
    Spurious drugs: Maiden Pharma blacklisted, all contracts cancelled

    Haryana has blacklisted Maiden Pharmaceuticals Ltd, based at Sonepat, for three years, thereby debarring the firm from participating in state tenders. All rate contracts issued to the firm have also…

    • Pharma
    • March 27, 2024
    • 67 views
    DCC Calls For Strict Implementation Of Revised Schedule M, State-Level Activities To Address AMR

    New Delhi: The Drugs Consultative Committee (DCC), the advisory committee formed by the Central government to advise the Central and state governments on matters that require uniform implementation of drug laws…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Spurious drugs: Maiden Pharma blacklisted, all contracts cancelled

    Spurious drugs: Maiden Pharma blacklisted, all contracts cancelled

    DCC Calls For Strict Implementation Of Revised Schedule M, State-Level Activities To Address AMR

    DCC Calls For Strict Implementation Of Revised Schedule M, State-Level Activities To Address AMR

    Sanofi, Cipla Join Hands To Expand Reach Of CNS Portfolio In India

    Sanofi, Cipla Join Hands To Expand Reach Of CNS Portfolio In India

    Cyberabad Police Seize 1 Kg Alprazolam, Arrest Three

    Cyberabad Police Seize 1 Kg Alprazolam, Arrest Three

    Lee Health develops natural capsule for effective Heart care

    Lee Health develops natural capsule for effective Heart care

    Medical Shop Run By Twenty20 In Kizhakkambalam Asked To Shut Down

    Medical Shop Run By Twenty20 In Kizhakkambalam Asked To Shut Down