WASHINGTON (dpa-AFX) - Sandoz Group AG (SDZNY, SDZ.SW), a Swiss company that focuses on generic pharmaceuticals and biosimilars, on Monday reached settlement agreements with 43 US states and territories and indirect reseller plaintiffs to resolve all pending generic pricing litigation claims.
The company will make total payments of approximately $450 mln to resolve the disputes without admitting wrongdoing.
The settlements will have no impact on the company's full-year 2026 guidance or mid-term outlook, although it has increased its previously recognized provision to reflect the settlement amounts.
Under the settlement with 43 U.S. states and territories, the company will pay $400 million over seven years starting in 2027.
The resolution also requires an additional payment of about $50 million to states that settled earlier, bringing the total payment to about $450 million.
The company agreed to pay $28.5 million to settle claims brought by the indirect reseller plaintiffs class, resolving all remaining pending class-action litigation related to the matter.
The company said neither settlement includes an admission of wrongdoing and both remain subject to the required approvals.
On Friday, Sandoz Group AG closed trading 2.38% lesser at CHF 65.76 on the Swiss Stock Exchange.
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