Pharmaceutical giant from Basel –
Sandoz settles dispute with 275 million in the United States
The generic drug specialist has agreed to pay to end a lawsuit over the price of its treatments.
Published today at 7:41 a.m.
Two subsidiaries of the Rhine group reached an agreement with the plaintiffs before the Eastern District Court of Pennsylvania.
KEYSTONE/Gaetan Bally
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Generic drug specialist Sandoz will pay $275 million to end a dispute over generic treatment prices. The Basel group assures that these payments will have no impact on its financial objectives.
Sandoz Inc and Fougera Pharmaceuticals Inc, both subsidiaries of the Rhine group, reached an agreement with the plaintiffs before the Eastern District Court of Pennsylvania, according to a press release from the laboratory published Tuesday.
The Swiss company will pay 275 million dollars (246.1 million francs) to close the dispute opposing it to consumers, insurers, health funds, social protection and employee allowances and “other entities having paid and reimbursed” for medicines.
To face other ongoing litigation in the United States and Canada, Sandoz has set aside $265 million.
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