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By Chris Wack
Allergan PLC (AGN) said Monday that its Warner Chilcott and Watson subsidiaries have reached resolutions with all plaintiffs, including a class of direct purchasers, individual direct purchasers that previously opted out of the direct purchaser class, and a class of indirect purchasers of Loestrin 24 Fe and Minastrin 24 Fe.
The company said the settlement concludes the previously disclosed antitrust litigation in the U.S. District Court for the District of Rhode Island.
Allergan said the settlements make no admission of wrongdoing on the part of the company and resolve the litigation that was scheduled to go to trial Monday.
The company said Warner Chilcott and Watson will pay about $300 million under the settlement agreements, which are subject to court approval of the agreements with the direct and indirect purchaser classes.
Allergan said it will take a pre-tax charge of $300 million to its fourth quarter earnings.
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(END) Dow Jones Newswires
January 06, 2020 07:24 ET (12:24 GMT)
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