Court Affirms Summary Judgment in Favor of Sun Pharma in US Antitrust Litigation Over Lipitor
Sun Pharmaceutical Industries Limited has secured a significant legal victory in ongoing antitrust litigation in the United States related to its involvement with generic Lipitor (Atorvastatin). The United States Court of Appeals for the Third Circuit has affirmed the order granted by the United States District Court, granting summary judgment in its entirety in favor of Sun Pharma and its subsidiaries.The litigation stemmed from a 2008 patent litigation settlement agreement between Sun Pharmaceutical Industries Limited and certain subsidiaries with Pfizer concerning generic Lipitor. The plaintiffs had alleged that this settlement unlawfully delayed generic competition for the medication, claiming that Lipitor would have entered the market earlier without the disputed agreement.
In the appellate decision, the Court confirmed the findings of the District Court. Furthermore, the Appellate Court affirmed the District Court's prior rulings denying class certification as to the plaintiffs in the matter.
This judicial development is considered a significant favorable outcome for Sun Pharmaceutical Industries Limited and its subsidiaries regarding the antitrust litigation. The court's affirmation substantially brings the case toward a conclusion, although the company noted that further remedies may still be available to the plaintiffs under applicable law.
SUNPHARMA Stock Price Movement
Sun Pharmaceutical Industries Limited shares slipped on Friday, closing at ₹1930, down ₹2.00 or 0.10% from the previous close. The stock settled on a trading volume of 881,282 shares, having traded within a range that included a day low of ₹1914.7 and a high of ₹1937.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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