Taro Pharmaceutical has asked a court in Manhattan to approve a $36m settlement to resolve a class action lawsuit claiming that the Sun Pharma subsidiary misled investors about its involvement in alleged generic price fixing for two years, to the detriment of the price of the company’s securities.
Taro Agrees $36m Securities Settlement Over US Price-Fixing Claims
Eight-Year-Old Lawsuit Alleged Firm’s 'False Statements' Misled Investors
Sun’s Taro subsidiary is looking to move forward with an eight-figure settlement deal in the US, after plaintiffs including a firefighters’ pension fund accused the firm of misleading investors via its involvement in generic price fixing, leading to a fall in the price of its securities.
More from Legal & IP
• By
After Amgen’s surprise launch of the first US biosimilar to Eylea last year, expectations around competition are being further upended with the news that Biocon Biologics has struck a settlement deal with Regeneron allowing it to launch its own aflibercept rival in the second half of 2026. Will other challengers follow suit?
• By
Having failed in US patent litigation over Amgen’s Enbrel, Sandoz is taking an alternative approach in trying to get its Erelzi biosimilar to market in the US ahead of patent expiry in 2029: launching an antitrust attack against the originator for “unlawfully extending and entrenching its monopoly."
• By
Jazz has agreed a nine figure settlement agreement in the US with purchasers of its Xyrem blockbuster following claims that it illegally delayed generic competition to the blockbuster treatment for narcolepsy via patent-litigation settlement agreements with several ANDA sponsors.
• By
With sales of $550m last year and a high barrier to entry, Exparel marks an intriguing target for abbreviated new drug application sponsors. Having shot down a US patent last year and won US FDA approval for its ANDA, Jiangsu Hengrui’s US eVenus Pharmaceutical Laboratories subsidiary and partner Fresenius Kabi have just reached a settlement agreement.
More from Generics Bulletin
• By
Cipla will look to give its US operations a boost later this year by launching only the second Abraxane ANDA product.
• By
After having its facility cleared by the FDA earlier in the year, Biocon Biologics finally saw its bevacizumab biosimilar receiving approval in the US.
• By
The company did not disclose which particular drugs it secured through the deal that further boosted its portfolio that already includes more than 100 assets.