Drug markers Sun Pharma, Dr. Reddy’s, Wockhardt, and Glenmark in their respective filings to exchanges gave clarification on media reports stated that US states had filed a Lawsuit in Federal Court alleging that other generic pharmaceutical companies had violated antitrust Laws by fixing prices and allocating customers.
Accordingly, Dr. Reddy's
US subsidiary is specifically named as a defendant with respect to five generic drugs (Ciprofloxacin HCL tablets, Glimepiride tablets, Oxaprozin tablets, Paricalcitol and Tizanidine), for an alleged "overarching conspiracy''.
For Sun Pharma
, lawsuit filed against aro Pharmaceuticals USA, Inc. (Taro).
In a press statement, Dr. Reddy’s said," We intend to vigorously defend against these allegations and are in the process of filing our response with the District Court of Connecticut. Currently, we do not foresee any material impact on our operations and consolidated results with respect to this matter."
Further, Sun Pharma also clarified that, "As we understand from our concerned subsidiaries, in their belief, the allegations made in these Lawsuits against them are without merit and our concerned subsidiaries will continue to vigorously defend against them."
said, "The company has denied all the relevant accusations in the first State AG Action and is vigorously defending the matter."
clarified, "A class action was initiated against various pharmaceutical companies including Wockhardt Limited. This anti-trust action relates to a price hike of various generic drugs such as Clobetasol, Desonide, Lidex, Fluocinonide, Propranolol, Pravastatin, Divalproex ER, Econazole, Levothyroxine, etc. The company is one of the manufacturer and marketer of the few of the said products viz.; Clobetasol & Desonide. For Clobetasol, the company along with other Defendants filed motions to dismiss the consolidated amended complaints.:
"The matter relating to Divalproex may move into Multidistrict Litigation (MDL). The matter, as it stands today, as regards the company’s exposure to risk and potential liabilities, we see minimal exposure (actual or threatened) as the matter is currently being argued in the USA by our legal and regulatory personnel and we are positively hopeful that the Company’s name would be removed from the said litigation/ class action claims,” Wockhardt added.