Glenmark Pharma US arm to pay $29.63 mln over 5 yrs to settle legal disputes
This story was originally published at 10:48 IST on 23 May 2026
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--Glenmark Pharma US arm to pay $29.63 mln over 5 yrs to settle legal dispute
MUMBAI – Glenmark Pharmaceuticals Ltd. Saturday said its subsidiary Glenmark Pharmaceuticals Inc., USA has agreed to a settlement agreement to resolve several antitrust and consumer protection lawsuits. These cases involved allegations of price-fixing, market allocation, and related anti-competitive conduct regarding generic pharmaceutical products, Glenmark Pharma said in an exchange filing. The company will pay $29.63 million in annual instalments over five years to settle these disputes.
Since 2016, Glenmark Pharma USA has been named in more than 35 complaints which claim the company's products violated US federal antitrust laws relating to their pricing. The plaintiffs included direct purchasers, end-payers, indirect purchasers, and 46 state attorneys general. The company denied every allegation made by the plaintiffs. The settlement does not constitute any concession or admission of liability, wrongdoing, or illegality on the part of the subsidiary, Glenmark Pharma said. The company said this settlement will not have a significant impact on its finances.
For the December quarter, Glenmark Pharmaceuticals reported a consolidated net profit of INR 4.03 billion on revenue of INR 39.01 billion. Friday, shares of the company ended 5.6% lower at INR 2,259.10 on the National Stock Exchange. End
US$1 = INR 95.69
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Reported by Eshitva Prakash
Edited by Vandana Hingorani
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