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Swiss drugmaker Sandoz settles US anti-trust charges

Published on December 17, 2024

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Swiss drugmaker Sandoz settles US anti-trust charges — Sandoz reaches further settlement in the USA Keystone-SDA

Generated with artificial intelligence.

The Swiss generic drugs manufacturer Sandoz has agreed to pay more than $500 million to settle legacy United States anti-trust legal issues.

This content was published on December 17, 2024 - 08:31

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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

This news story has been written and carefully fact-checked by an external editorial team. At SWI swissinfo.ch we select the most relevant news for an international audience and use automatic translation tools such as DeepL to translate it into English. Providing you with automatically translated news gives us the time to write more in-depth articles.

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