Companies

Lupin reviews details of US lawsuit on drug pricing

PTI New Delhi | Updated on May 15, 2019 Published on May 15, 2019

Drug maker Lupin said on Wednesday it is reviewing the details of a lawsuit filed in a US court accusing 21 generic medicine producers of hatching a conspiracy to fix prices.

“We have received a copy of the lawsuit filed against the generic drug manufacturers and are reviewing the details of the same,” Lupin Ltd said in a regulatory filing.

The company has been a key pharmaceutical player in the US and has demonstrated full commitment to compliance with all laws and ethical business practices, it added.

The Mumbai-based drug firm along with various other domestic companies such as Sun Pharma, Dr Reddy’s Laboratories and Wockhardt are among the 21 generic pharmaceutical firms and 15 other individual defendants against whom the Attorneys General of 49 US states, the Commonwealth of Puerto Rico and the District of Columbia had filed a complaint with respect to 116 generic drugs in the US District Court for the District of Connecticut.

The companies have been accused of violating antitrust laws by fixing prices and allocating customers.

Lupin shares ended 3.22 per cent down at Rs 783.10 on the BSE today.

Published on May 15, 2019
This article is closed for comments.
Please Email the Editor