Sandoz settles US antitrust case for $275 million by Investing.com

Sandoz (The six:), division Novartis (SIX:), has reached a $275 million settlement agreement with final payer plaintiffs in a U.S. generic drug antitrust class. an act (wa:) litigation.

The company announced this morning that the agreed-upon amount will be paid before the end of 2024, effectively settling all damage claims of the final payer class involved in the lawsuit.

In anticipation of further financial implications, Sandoz has also set aside an additional $265 million to address outstanding claims from plaintiffs who have opted out of the same case.

While Sandoz is prepared to defend against these claims vigorously, this provision represents a preliminary estimate of the potential costs that may arise from these additional legal challenges.

The combined financial impact of the settlement and the provision for outstanding claims is expected to result in an economic cost of CHF 1.1 per share.

The settlement represents a critical step for Sandoz in resolving ongoing litigation, providing a clearer path forward for the company’s financial planning and operations.

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