Glenmark’s US Arm to Pay $37.75 Million In Antitrust Settlement

Glenmark Pharmaceuticals Ltd. said on Wednesday its US subsidiary has agreed to pay $37.75 million to settle an antitrust lawsuit filed by a class of direct purchasers over alleged price-fixing in the generic drugs market.

The amount will be paid in two instalments and is subject to approval by the US District Court for the Eastern District of Pennsylvania. Glenmark clarified that the settlement does not constitute an admission of guilt.

“Glenmark USA denies each and every one of the allegations against it,” the company said in a regulatory filing.

The subsidiary is among several drugmakers facing consolidated lawsuits in the US involving alleged price-fixing, market allocation, and other anticompetitive practices. The cases have been filed by groups of direct purchasers, end-payers, and indirect purchasers.