Glenmark to pay $30 million in an antitrust settlement in US over cholesterol drug pricing
Glenmark Pharmaceuticals said its US subsidiary has entered into a pact with the US Department of Justice, Antitrust Division (DOJ) to resolve all of its court proceedings related to pricing of a cholesterol drug pravastatin, and would be paying $30 million in six installments.
The company in an exchange notification said that it has entered into a three-year deferred prosecution agreement, and if the company adheres to the terms of the agreement, including the payment of $30 million, payable in six installments, the DOJ will dismiss the pending superseding indictment.
“Glenmark is committed to being a socially and ethically responsible company and has devoted considerable resources to strengthen our compliance practices,” said Sanjeev Krishan, president, Glenmark Pharma.