homehealthcare NewsGlenmark to pay $48 mn to Direct Purchaser Plaintiffs in connection with Zetia generic
Glenmark to pay $48 mn to Direct Purchaser Plaintiffs in connection with Zetia generic
In the pending antitrust and consumer protection litigation, Glenmark pharma is named as a defendant and trial for this case is scheduled to begin on April 19, 2023 in the U.S. courts. The Company has agreed to enter a settlement with the Direct Purchaser Plaintiff group and shall pay US$ 48mn to the Direct Purchasers.
There are multiple antitrust and consumer protection lawsuits, including a class action, consolidated in the Eastern District of Virginia, U.S. against the Company and its subsidiary Glenmark Pharmaceuticals Inc., USA in connection with generic Zetia, a drug for the treatment of cholesterol.
The lawsuits allege that in 2010, Glenmark entered an anticompetitive agreement to settle patent infringement litigation involving a patent related to ezetimibe (the active ingredient in Zetia) with Schering Corporation and MSP Singapore Company LLC.
In the pending antitrust and consumer protection litigation, the Company is named as a defendant along with Schering Corporation, MSP Singapore Company LLC, Merck & Co., Inc., Merck Sharp & Dohme Corp., now known as Merck Sharp & Dohme LLC, and Schering-Plough Corp.
The trial for this case is scheduled to begin on April 19, 2023 in the U.S. courts.
Three plaintiff groups collectively representing all of the claims against the Company and Merck are referred to as the Direct Purchaser Plaintiffs, the Retailer Plaintiffs, and the End-Payor Plaintiffs.
With a view to reducing uncertainty, the Company has agreed to enter a settlement with the Direct Purchaser Plaintiff group. Under this settlement, the Company must pay an amount of US$ 48mn to the Direct Purchasers, in accordance with the agreement entered into with them.
The settlement will make clear that the Company denies each and every one of the allegations against it and has not conceded or admitted any liability.
The stock is trading 1 percent higher on the exchanges today.
First Published: Apr 19, 2023 11:11 AM IST
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