Sandoz to pay $275 million to settle US generic drug litigation and sets aside $265 million

From Nasdaq: 2024-12-17 01:30:22

Sandoz Group AG has agreed to pay $275 million to end payer plaintiffs to settle US generic drug antitrust litigation. The company also set aside $265 million for potential additional settlement costs. The settlement will not impact 2024 financial results or guidance. Sandoz US reached an agreement with plaintiffs in the multi-district litigation without admitting wrongdoing. The deal resolves claims from end payer class members, including consumers, insurers, and benefit plans. The settlement is pending court approval and follows previous settlements with the DOJ and direct purchaser plaintiffs. Sandoz is also facing a class action in Canada for alleged price fixing in the generic pharmaceutical market.



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