Sandoz agrees $450 million settlement with 43 US states over antitrust claims
Tweet
Share
E-mail
FILE PHOTO: Four thousand U.S. dollars are counted out by a banker counting currency at a bank in Westminster, Colorado November 3, 2009. REUTERS/Rick Wilking/File Photo
Aug 3 (Reuters) - Swiss generic drugmaker Sandoz said on Monday that it has entered into a $450 million settlement agreement with 43 U.S. states and territories to resolve litigations concerning alleged anti-competitive conduct in the U.S. market for generic medicines.
Under the agreement, the firm's U.S subsidiary is to pay a total of $400 million over seven years starting from 2027, with an additional payment of approximately $50 million to states that settled earlier, Sandoz said.
Neither settlement contains an admission of wrongdoing by Sandoz US, the company added.
"These settlements do not affect full-year 2026 guidance or the Sandoz mid-term outlook," it added.
(Reporting by Tristan Veyet in Gdansk, editing by Miranda Murray)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Germany's AfD eyes Saxony-Anhalt win as first step toward federal power
- Norway to give over $9 billion to Ukraine in 2027
- Vietnam approves customs law changes to strengthen IP enforcement
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
