Sun Pharmaceutical Industries and certain of its subsidiaries have been defendants in antitrust litigation in the United States relating to a 2008 patent litigation settlement agreement with Pfizer concerning generic Lipitor (Atorvastatin).
Plaintiffs alleged that the settlement unlawfully delayed generic competition for Lipitor and that absent the unlawful settlement, Lipitor would have entered the market earlier than it did.
The matter has been disclosed from time to time in the Company's financial statements.
The United States Court of Appeals for the Third Circuit has affirmed the order of the United States District Court granting summary judgment in its entirety in favour of the Company and its subsidiaries.
The Appellate Court has also affirmed the District Court's orders denying class certification as to the plaintiffs.
This decision represents a significant favourable development for the Company and its subsidiaries in the matter, and brings the litigation substantially to a close, subject to any further remedies that may be available to the plaintiffs under applicable law.
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