Sun Pharma Gains After Settling Antitrust Litigation In US

Sun Pharmaceutical Industries gained over 2% in the early morning trade on Monday after the company announced that it has settled antitrust litigation in the US.

The Indian pharma giant made the announcement post market hours on Friday.

Sun Pharma was trading at Rs 560.45, up by Rs 10.75 or 1.96% as at 1016 hours on Monday, on the BSE. The stock had hit an intraday high of Rs 567.30.

“Sun Pharmaceutical Industries (Sun Pharma) and one of its wholly-owned subsidiaries have entered into settlements with certain plaintiffs in Modafinil Antitrust Litigation matter currently pending in the United States District Court for the Eastern District of Pennsylvania. The settlements extend to all claims brought by Apotex Corporation and the Retailer Purchaser Plaintiffs. The settlements remain are confidential,” the company said.

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