Shares of Sun Pharmaceutical Industries Ltd are trading flat after touching a day’s high of Rs 1,700.10 on 25th July, following the announcement that its subsidiaries, Sun Pharmaceutical Industries, Inc. (SPII) and Taro Pharmaceuticals U.S.A., Inc. (Taro), have entered into a settlement agreement in the ongoing In re Generic Pharmaceuticals Pricing Antitrust Litigation in the Eastern District of Pennsylvania, US.

Sun Pharma’s US subsidiaries, Sun Pharmaceutical Industries, Inc. and Taro, have agreed to pay $200 million to settle a drug pricing antitrust case in the US. The payment will cover all claims brought by End Purchaser Plaintiffs. It also extends protection to their current and former affiliates, employees, and representatives.

The final amount may change depending on the number of class members who opt out. Sun clarified that the deal includes no admission of wrongdoing and still requires court approval.

Sun Pharmaceutical’s Product Launch & Licensing Deal:

Last month, Sun Pharma launched LEQSELVI (deuruxolitinib) 8 mg tablets in the US for the treatment of severe alopecia areata in adults. The drug is now available nationwide.

The launch follows a settlement with Incyte Corporation in a US patent case. As part of the deal, Sun received a limited license to use Incyte’s patent for non-cancerous uses, such as alopecia areata. Sun will make an upfront payment and ongoing royalties. However, other terms remain confidential.

At 11:44 AM, the shares of Sun Pharma were trading 0.37% higher at Rs 1,698.30 on NSE.

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