Latest news with #SPII
Time of India
5 days ago
- Business
- Time of India
Sun Pharma shares in focus after $200 million settlement in US drug pricing case
Shares of Sun Pharmaceutical Industries will be in focus on Friday after the company announced that two of its subsidiaries – Sun Pharmaceutical Industries Inc. (SPII) and Taro Pharmaceuticals U.S.A. Inc. (Taro) – have agreed to pay $200 million to settle an antitrust case in the US. The settlement is part of the ongoing In re Generic Pharmaceuticals Pricing Antitrust Litigation in the Eastern District of Pennsylvania. The payment will secure a full release of all claims brought by the End Purchaser Plaintiffs against SPII, Taro, and their current and former affiliates, directors, officers, and employees. Explore courses from Top Institutes in Please select course: Select a Course Category MBA Product Management Data Science Healthcare PGDM others Digital Marketing Design Thinking Project Management Leadership Others Finance Technology healthcare Cybersecurity MCA Data Science Operations Management Degree Artificial Intelligence CXO Public Policy Skills you'll gain: Financial Management Team Leadership & Collaboration Financial Reporting & Analysis Advocacy Strategies for Leadership Duration: 18 Months UMass Global Master of Business Administration (MBA) Starts on May 13, 2024 Get Details Skills you'll gain: Analytical Skills Financial Literacy Leadership and Management Skills Strategic Thinking Duration: 24 Months Vellore Institute of Technology VIT Online MBA Starts on Aug 14, 2024 Get Details The final payout may be adjusted depending on how many class members opt out. Sun Pharma clarified that the settlement does not involve any admission of wrongdoing and is still subject to court approval. In June, Sun Pharma launched LEQSELVI (deuruxolitinib) 8 mg tablets in the US for adults with severe alopecia areata. The rollout follows a settlement and licensing agreement with Incyte Corporation, ending litigation in the District Court of New Jersey. Also Read: IEX crashes nearly 30% after market coupling nod: Technical analysts see no floor yet Live Events As part of that agreement, Sun Pharma obtained a limited, non-exclusive license to certain Incyte patents for non-oncology indications, including alopecia areata. The company will pay an upfront fee and ongoing royalties to Incyte. Other financial terms remain confidential. Sun Pharma share price target According to Trendlyne, the average target price for Sun Pharma is Rs 1,974, implying an upside of 17% from current levels. Out of 36 analysts tracking the stock, the majority maintain a 'Buy' rating. Also Read: Is the IPO market the new gold? 2025 listings outshine Nifty with 4X returns Sun Pharma shares closed 0.56% higher at Rs 1,692.1 on BSE on Thursday, outperforming the 0.66% drop in the Sensex. However, the stock is down 10% year-to-date and has declined 7% in the last six months. ( Disclaimer : Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
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Business Standard
5 days ago
- Business
- Business Standard
Sun Pharma resolves US antitrust case with $200 mn agreement
Sun Pharmaceutical Industries on Thursday said it has settled an antitrust litigation in the US entailing a payment of $200 million. The subsidiaries of the company, Sun Pharmaceutical Industries, Inc. (SPII) and Taro Pharmaceuticals USA, Inc. have signed a settlement agreement with the End Purchaser Plaintiffs in the In re Generic Pharmaceuticals Pricing Antitrust Litigation in the Eastern District of Pennsylvania, US, the Mumbai-based drugmaker said in a regulatory filing. "Under the terms of the settlement agreement, the subsidiaries will make an aggregate payment of $200 million in exchange for a full release of all claims asserted against them in the End Purchaser Action by the settlement class members," it added. The settlement amounts may be reduced if more than a certain percentage of the total insured class members opt out of the putative class, the company stated. The settlement agreement is subject to court approval, it added.
Business Upturn
5 days ago
- Business
- Business Upturn
Sun Pharma subsidiaries settle US antitrust litigation for $200 million
Sun Pharmaceutical Industries Limited ('Sun Pharma') has announced that its subsidiaries, Sun Pharmaceutical Industries, Inc. ('SPII') and Taro Pharmaceuticals U.S.A., Inc. ('Taro'), have entered into a settlement agreement with the End Purchaser Plaintiffs in the In re Generic Pharmaceuticals Pricing Antitrust Litigation in the Eastern District of Pennsylvania, U.S. Under the terms of the agreement, SPII and Taro will make a combined payment of $200 million. In return, all claims brought against them—along with their current and former parents, affiliates, predecessors, successors, directors, officers, employees, and representatives—will be fully released by the settlement class members in the End Purchaser Action. The settlement amount may be reduced if more than a certain percentage of total insured class members opt out of the class. Sun Pharma clarified that the settlement is being entered into without any admission of wrongdoing. The agreement remains subject to court approval. In the meantime, Sun Pharma shares closed at ₹1,692.00 today, after opening at ₹1,682.50. During the session, the stock touched an intraday high of ₹1,696.00 and a low of ₹1,680.10. The stock remains below its 52-week high of ₹1,960.35, while staying comfortably above the 52-week low of ₹1,553.05. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
