Lupin Limited on Friday said its US subsidiary has entered into a settlement agreement with Humana Inc. to resolve one of the civil lawsuits filed as part of the consolidated In Re Generic Pharmaceuticals Antitrust Litigation in the United States.
In an exchange filing, the drugmaker said Lupin Pharmaceuticals, Inc. (LPI), its wholly owned US arm, will pay $30 million for a full and final release of all claims by Humana against LPI and its current and former parents, affiliates, directors, employees, and officers.
“The settlement explicitly states that LPI denies all allegations made against it, and that the Agreement does not imply any admission of liability or unlawful conduct by LPI,” Lupin added.
The litigation is being heard in Philadelphia, Pennsylvania, and relates to allegations of anticompetitive behaviour and violations of federal and state antitrust laws.
Lupin said LPI continues to deny all allegations made against it. The settlement, the company added, does not imply any admission of liability or unlawful conduct.
The company further said the settlement amount has already been provided for in its prior consolidated financial results, and the agreement was entered into considering that other defendants have settled similar claims and to avoid the costs and uncertainties of prolonged litigation.
