Sandoz has reached a settlement agreement with the class of final claimants for $275 million, according to a statement on Tuesday. In addition, provisions of $265 million have been set aside to cover potential further settlement costs for antitrust proceedings in the US generics industry.
These measures have no impact on the current annual forecast or the medium-term targets, it added. In recent years, Sandoz has gradually cleared up its legal legacy. The Group had already reached settlements with the US Department of Justice in 2020 and 2021. Then, in February of this year, with the plaintiff group of direct purchasers.
The settlement now announced with the class of ultimate purchasers, which includes consumers, insurers and social insurance companies, is expected to be paid before December 31, 2024. According to the information provided, the settlement still has to be approved by the court.
Translated from German by DeepL/mga
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